Скачать или смотреть US state secretary Blinken signals revival of TIFA talks with Taiwan

After being stalled for five years, Taiwan-U.S. trade and investment talks could be moving forward at last. Speaking at a congressional hearing on Monday, U.S. Secretary of State Antony Blinken signaled plans for trade talks on a “framework agreement” with Taiwan. He appeared to be referring to the Trade Investment Framework Agreement with Taiwan, a framework for dialogue that could lead to a bilateral trade agreement. This framework, called TIFA, has been dormant since 2016, largely due to a dispute over U.S. pork containing ractopamine.

At a budget hearing on Monday, Blinken was asked for the Biden administration’s position on a bilateral trade deal with Taiwan. Blinken made it clear that talks on trade would resume, enabling progress in Taiwan-U.S. business cooperation.

Antony Blinken
US secretary of state
I’d have to refer you to Katherine Tai, the U.S. trade representative, but I know we are engaged in conversations with Taiwan, or we will be, on some sort of framework agreement.

Su Tseng-chang
Premier
Taiwan’s diplomatic relations with other countries are getting better and better. We look forward to advancement in Taiwan-U.S. relations.

Previously, the Tsai administration said that Taiwan’s ban on U.S. pork containing ractopamine was a hurdle to a Taiwan-U.S. trade pact. Since the lifting of that import ban, the U.S. has signaled that progress will be made on deepening trade ties. Who stands to benefit from deeper ties? According to economics ministry data, Taiwan’s exports to the U.S. would grow by US$1.9 billion if the two sides eliminate tariffs and barriers to service sector trade. Sectors that would benefit from tariff-free trade are machinery products, chemicals, steel and aluminum, metal tools, rubber products, optical products, and panels, with machinery to get the biggest export boost. But there would be losers in the equation, too, with the agriculture and service sectors getting the brunt of the impact.

Wang Ting-yu
DPP lawmaker
For Taiwan as a whole, a free-trade deal is a development I would be happy to see. But during trade negotiations, there’s no such thing as winner-takes-all.

Following its donation of COVID vaccines, the U.S. has indicated willingness to move forward on a BTA, to advance Taiwan-U.S. ties.