United States and Taiwan held the Inaugural Meeting of the U.S-Taiwan Initiative on 21st-Century Trade on June 27, 2022. Both countries reiterated their shared interest to develop concrete ways to deepen the U.S.-Taiwan economic and trade relationship, advance mutual trade priorities based on shared values, and promote innovation and inclusive economic growth for workers and businesses. They also discussed the development of an ambitious roadmap for negotiations to reach agreements with high-standard commitments and economically meaningful outcomes. The commitments will cover a number of trade areas, including trade facilitation, regulatory practices, agriculture, anti-corruption, small- and medium-sized enterprises, digital trade, labor, environment, standards, state-owned enterprises, and non-market policies and practices.
On August 17, 2022 the United States and Taiwan reached consensus on the negotiating mandate for the U.S.-Taiwan Initiative on 21st-Century Trade announced on June 1, 2022. The negotiating mandate announced out the broad objectives shared by the two sides for the upcoming trade negotiations. It is expected that the first round of negotiations will take place early fall 2022.
The United States and Taiwan held in-person conceptual discussions on the U.S.-Taiwan Initiative on 21st-Century Trade in New York City on Tuesday, November 8, and Wednesday, November 9.
On January 17-20, 2023, United States and Taiwan held negotiating round for the U.S.-Taiwan Initiative on 21st- Century Trade. During the four-day negotiating round in Taipei, the two sides exchanged views on proposed texts covering trade facilitation, anticorruption, small and medium-sized enterprises, good regulatory practices, and services domestic regulation. Officials also reached consensus in a number of areas and pledged to maintain an ambitious negotiating schedule in the months ahead to continue this momentum.
On March 16, 2023, the Office of the United States Trade Representative (USTR) released summaries of texts proposed by the U.S. side during the first negotiating round of the U.S.-Taiwan Initiative on 21st Century Trade, which was held in Taipei, Taiwan from January 14-17, 2023.