US, Taiwan Reach Deal on 1st Part of ‘21st Century’ Trade Pact

Flags of Taiwan and United States are placed for a meeting between U.S. House Foreign Affairs Committee Chairman Ed Royce speaks and with Su Chia-chyuan, President of the Legislative Yuan in Taipei, Taiwan, on March 27, 2018. Tyrone Siu/Reuters

WASHINGTON—The U.S. and Taiwan reached agreement on the first part of their “21st Century” trade initiative, covering customs and border procedures, regulatory practices, and small business, the U.S. Trade Representative’s office said on Thursday.

After the initial agreement of the U.S.–Taiwan Initiative on 21st Century Trade is signed, negotiations will commence on other, more complicated trade areas including agriculture, digital trade, labor and environmental standards, state-owned enterprises, and non-market policies and practices, USTR said.