US, Taiwan reach initial agreement in new trade initiative

Washington [US], May 20: Reuters news agency on May 19 reported that the US and Taiwan had signed the initial agreement of the 21st Century Trade Initiative announced by the two sides in June last year. This is also the first bilateral trade agreement under US President Joe Biden.
The agreement covers trade and regulatory facilitation, anti-corruption, and support for small and medium-sized businesses of both sides, CNN reported, citing a statement from the Office of the United States Trade Representative (USTR).
Taiwan 's Office of Trade Negotiations called the deal "historical" and said the island wanted to complete negotiations on all remaining issues by the end of the year.
The announcement of the trade deal came shortly before meetings scheduled between Chinese Commerce Minister Wang Wentao, US Commerce Secretary Gina Raimondo and USTR Representative Katherine Tai.
Source: Thanh Nien Newspaper