Global Outlook

 The United States will launch new trade talks with Taiwan, just days after the Joe Biden administration excluded the island from its Asia-Pacific trade initiative.  The U.S. officials said on Wednesday that US and Taiwan will “develop a roadmap" for the planned U.S.-Taiwan Initiative on 21st-Century Trade in the coming weeks. Two senior U.S. administration officials said that in-person meetings between US and Taiwan leaders will take place in the U.S. in June.  U.S.-Taiwan Initiative The U.S.-Taiwan Initiative aims to fight corruption, improve common standards on digital trade, implementation of labor rights, improvement in environmental standards, and efforts to curb state-owned enterprises and non-market practices.  Reportedly, this initiative in some ways parallels the Biden administration's Indo-Pacific Economic Framework (IPEF), an economic partnership with 13 Asian countries that he launched last week during a visit to South Korea and Japan.  Biden unveil...