The agreement covers customs and border procedures, regulatory practices, and small business.
Flags of Taiwan and U.S. are placed for a meeting in Taipei, Taiwan March 27, 2018. REUTERS/Tyrone Siu
After the initial agreement of the U.S.-Taiwan Initiative on 21st Century Trade is signed, negotiations will commence on other, more complicated trade areas including agriculture, digital trade, labor and environmental standards, state-owned enterprises, and non-market policies and practices, USTR said.
"We look forward to continuing these negotiations and finalizing a robust and high-standard trade agreement that tackles 21st Century economic challenges," Tai said.
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