Taiwanese President Tsai Ing-wen announced Friday that she has instructed her government ministries to relax restrictions on imports of American Beef and Pork—a move she said was consistent with Taiwan’s “overall national interests and future strategic development goals.”
“I trust that if we can take this key step regarding U.S. beef and pork issues, it will be an important starting point for more comprehensive Taiwan-U.S. economic cooperation,” said Tsai. “In the future, we can develop a more dynamic and vigorous economic and trade strategy. For industries, especially traditional industries, that have been impacted over the past two years by the U.S.-China trade conflict and the pandemic, this is an important opportunity.”
Tsai said that from Congress to the U.S. business community, “There are clear expectations of building deeper economic and trade ties with Taiwan, which includes the potential of a Taiwan-U.S. bilateral trade agreement (BTA).”
Bilateral Trade Relationship Mooted
The announcement was warmly welcomed by trade bodies and the U.S. government.“It is hard to calibrate how quickly U.S. Trade Representative (USTR) will respond to this bold unilateral move by President Tsai,“ said U.S.-Taiwan Council President, Rupert Hammond-Chambers, in a statement. ”There is strong support for a BTA within Congress, as well as from the U.S. Departments of Agriculture, Commerce, and State, and from the National Security Council.”
“Opening up additional trade and economic avenues with Taiwan, which is already the number two trading partner of my home state of Idaho, is important to advancing our already strong partnership,” Risch said in a statement. “I strongly support the United States exploring a free trade agreement with Taiwan and reaching more markets with high quality products made in Idaho.”
According to President Tsai, U.S.-Taiwan relations are at their strongest in decades.
“Taiwan is a significant and critical trade partner of the U.S., and Taiwan and American businesses have close cooperative relationships,” she said. “I trust that if we can take this key step regarding U.S. beef and pork issues, it will be an important starting point for more comprehensive Taiwan-U.S. economic cooperation. In the future, we can develop a more dynamic and vigorous economic and trade strategy.”
The U.S.-Taiwan Business Council, meanwhile, called on the United States to respond to the move by initiating BTA negotiations as soon as possible.
“A BTA between the U.S. and Taiwan would be the kind of template agreement that the Trump Administration could highlight as a future platform for global trade engagement,“ said Hammond-Chambers. ”It could include important new platforms for technology, particularly in the semiconductor industry, and for energy and healthcare collaboration. In addition, we would see improved market access for American manufacturers and agricultural producers.”
“It would be a huge win for America,” he said.