US, Taiwan to resume trade, investment talks

The United States and Taiwan have agreed to resume trade and investment talks that have been stalled for nearly five years.

US Trade Representative Katherine Tai and Taiwanese minister John Deng held an online meeting on Thursday.

Both sides announced that they have agreed to convene a meeting to discuss a trade and investment framework agreement in the coming weeks. The talks have been stalled since October 2016.

The Office of the US Trade Representative said Tai stressed the importance of US-Taiwan trade and the investment relationship.

It says she also expressed her country's continued interest in working with Taiwan on issues of common concern in multilateral organizations.

Taiwanese authorities said Deng described Taiwan as an important part of the global supply chain and a reliable partner for the US.

The US is working with its allies to strengthen its supply chain for advanced technology and other products, while viewing China as its biggest competitor.

The US is also deepening relations with Taiwan amid China's increasing military pressure on Taiwan.

The latest move to strengthen ties between the US and Taiwan is expected to draw a sharp response from China, which upholds the "one-China principle."