Taiwan and the US are planning to come up with an "early harvest list" on a bilateral trade deal before the end of this year. That was the word from Deputy Trade Representative Yang Jen-ni from Taiwan's Office of Trade Negotiations at the legislature on Monday.
The so-called “early harvest” lists are usually frontrunners to more comprehensive free trade agreements. They list products on which tariffs are lowered and are often considered a sign of trust between negotiation partners.
The two sides are also in talks in regards to 11 trade areas on which they hope to agree next year. The talks are a part of the U.S.-Taiwan Initiative on 21st-Century Trade.
The 11 trade areas include small-and-midsize enterprises (SME), facilitating trade, digital trade, regulatory practices, fighting corruption, agriculture, standards, labor, environmental protection, state-owned enterprises, and non-market policies and practices.