July 19, 2023
The United States Senate approved the US-Taiwan Initiative on 21st-Century Trade First Agreement Implementation Act by unanimous consent on the evening of July 18. The bill was jointly introduced on June 9 by House of Representatives Ways and Means Committee Chairman Jason Smith (R-MO), Senate Finance Committee Chairman Ron Wyden (D-OR), and other members of Congress from both sides of the aisle. It aims to ensure through congressional procedures that future trade agreements and trade relations between Taiwan and the United States will be more durable and receive due support. Following its adoption by the House of Representatives on June 21 and the Senate on July 18, the bill will be presented to President Joe Biden for signing. The speed of the legislative process demonstrates the high regard that US Congress members of both parties have for the Taiwan-US Initiative on 21st-Century Trade and points to their robust support for stronger bilateral trade relations. The Ministry of Foreign Affairs (MOFA) of the Republic of China (Taiwan) sincerely appreciates the concrete action again taken by the US Congress to express its firm commitment to strengthening the Taiwan-US trade partnership.
The Taiwan-US Initiative on 21st-Century Trade marks an important milestone in the deepening of trade relations between Taiwan and the United States. In coordination with the Executive Yuan’s Office of Trade Negotiations, MOFA will continue to work closely with the US administration and Congress to elevate the Taiwan-US trade partnership to the next level.