Taiwan Hopes To Seal Free Trade Deal With US As Biden Administration Holds Talks

The United States and Taiwan will hold trade talks on Monday under a newly agreed-on framework.

What Happened:  The office of the U.S. Trade Representative said the Deputy Trade Representative Sarah Bianchi would meet Taiwan's top trade negotiator, John Deng, to discuss an initiative on 21st-century trade, Without providing more details, Reuters reported.

This came days after the Biden administration excluded the Chinese-claimed island from its Asia-focused economic plan, the Indo-Pacific Economic Framework, or IPEF. The IPEF is designed to counter China's growing influence in the world trade market.

Deng told the publication that Taipei is hoping to eventually seal a free trade deal with the U.S. under the Biden administration.

The U.S. does not have official ties with Taiwan, but it has been stepping up engagement with the major producer of semiconductors — home to key Apple Inc. AAPL and Tesla Inc. TSLA supplier Taiwan Semiconductor Mfg. Co. Ltd. TSM — as China seeks to isolate it from global institutions.

China has repeatedly accused Washington of jeopardizing its efforts toward peace and warned the US envoys to stop trade talks with Taiwan. Recently, the Chinese defense minister also warned his US counterpart during the talks in Singapore that Beijing will "not hesitate to start a war" if Taiwan declares independence.

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