Pelosi hints at possible US-Taiwan trade deal soon as China slaps sanctions on Taipei

US House Speaker Nancy Pelosi addressed a joint press conference with Taiwan's President Tsai Ing-Wen on Wednesday where she hinted at a possible trade agreement between the two nations. Expressing enthusiasm on strengthening relations with Taipei, Pelosi stated that the two sides had discussed three important parts of the bilateral relations-- security, governance, and economy, laid down under the US Congress' Taiwan Relations Act. 

"There is great enthusiasm on both sides of the aisle for the US-Taiwan relationship. Over 4 decades ago, Taiwan Relations Act was built for both countries for advancing our shared interests in security, governance, and economy. Our solidarity is more important than ever," said Nancy Pelosi.

She added, "There 3 important parts--security, governance, and economy. On security our relationship is strong and we discussed how to make it stronger. On the economy, we discussed a trade agreement that may be possible soon and in governance, I would salute Taiwan on its leadership in tackling COVID, a real model for the world."

China imposes trade sanctions on Taiwan

On Tuesday, China announced the halt of natural sand export to the island and suspended imports of citrus fruits, chilled white hairtail, and frozen horse mackerel from the Taiwan region from Wednesday, according to the country's General Administration of Customs, Li Bijian. China also temporarily halted imports of products from multiple Taiwanese food companies, Taiwan's Council of Agriculture (COA) confirmed, as per Focus Taiwan. 

Confirming Li Bijian's statements, the COA revealed that the blacklisted companies include producers of tea leaves, dried fruits, honey, cocoa beans, and vegetables, as well as catches from around 700 fishing vessels. China has also announced economic sanctions and import bans on several Taiwanese companies producing pastries, baked goods, and sweets.

US House Speaker Nancy Pelosi, second in line to the Oval Office after the US vice-president, arrived in Taiwan on Tuesday amid China's continuous threats. With this, Pelosi became the highest-ranking American official to set foot in Taiwan in a quarter century. Her entry into Taiwan prompted a furious China to release propaganda videos and announce military drills and missile tests. Meanwhile, China's Ambassador to the US, Qin Gang, has lodged a stern demarche and strong protest to the White House National Security Council and the Department of State.