Taiwan sticking to its foreign trade policies in wake of U.S. vote

Taiwan will continue to seek closer trade links with countries in Asia as part of its efforts to join economic integration in the region and will keep pursuing closer cooperation with the United States, Presidential Office spokesman Alex Huang (黃重諺) said Saturday.

His remarks came in response to news reports that U.S. President Barack Obama’s administration had suspended its efforts to seek congressional approval of the Trans-Pacific Partnership (TPP) deal before President-elect Donald Trump takes office in January and that the TPP’s fate will be decided by Trump and Republican lawmakers.

The Obama administration had been lobbying lawmakers for months to pass the 12-country TPP deal in the post-election period. But those plans have been stymied since the Republican election victory on Tuesday, which will send Trump to the White House in January and retain the party’s majority in Congress.

Over the past years, Taiwan has repeatedly expressed interest in joining the TPP.

Asked about the issue, Huang said that in light of Trump’s campaign promises to dismantle the TPP and increase protectionism, there is tremendous uncertainty about the fate of multilateral trade negotiations and regional economic integration.

However, that will not hamper Taiwan’s efforts to expand trade links with countries in the region, Huang said.

He said Taiwan will continue to seek closer trade ties with neighboring Asian countries and to join regional economic integration.

Taiwan will also continue to advance economic cooperation with the U.S. to build a mutually beneficial relationship, Huang said.

Source: Focus Taiwan News Channel

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