US to begin formal trade negotiations with Taiwan

The US has announced that it will begin formal trade negotiations with Taiwan. The announcement came weeks after a controversial visit by US House Speaker Nancy Pelosi.

The Office of US Trade Representative, in a statement said, the first round of talks are expected to begin in early fall.

According to media reports, the discussion will include talks on trade facilitation, digital trade and anti-corruption standards. Trade between the US and Taiwan was worth nearly 106 billion dollar in 2020.