The chairman of the American Chamber of Commerce in Taiwan expressed optimism on Thursday about the possibility of eventually signing a free trade deal between the United States and Taiwan. This hope stems from the high level of bipartisan political support for Taiwan in the U.S., which is seen as a strong indication of progress on current trade talks.
While Taiwan was excluded from the Biden administration’s Indo-Pacific Economic Framework (IPEF) in 2022, trade talks have begun under the 21st Century trade initiative. If this agreement is completed, it would lay the foundation for a free trade deal between the U.S. and Taiwan. The chairman believes that political will is key in moving forward with such a deal, especially considering the strong bipartisan support for Taiwan in Congress.
Taiwan, a key player in the semiconductor industry, has been pushing for a free trade deal to strengthen its position in the face of diplomatic and military pressure from Beijing. Despite Beijing’s opposition to high-level engagement between the U.S. and Taiwan, including trade talks, Taiwan remains steadfast in rejecting China’s sovereignty claims. The chairman is hopeful that a free trade deal with Taiwan could be on the horizon, buoyed by ongoing efforts and support in both countries.
The American Chamber of Commerce in Taiwan represents over 570 companies and sees this as positive news for potential bilateral trade agreements in the future. As such, they are closely watching developments under both initiatives and remain optimistic about their chances for success despite challenges ahead
