Taiwan, left out of IPEF, agrees to a new trade initiative with U.S.

The U.S. and Taiwan have agreed to launch an “Initiative on 21st-Century Trade,” senior Biden administration officials said on Tuesday, a week after Taiwan was left out of the Indo-Pacific Economic Framework it had hoped to join. The initiative, which will deal “exclusively” with trade issues, was launched on Wednesday during a virtual meeting between Deputy U.S. Trade Representative Sarah Bianchi and Taiwanese Minister-Without-Portfolio John Deng, who handles trade issues. “In the days and weeks ahead, we will move quickly...