August 8, 2023
The White House announced on August 7 that the United States-Taiwan Initiative on 21st-Century Trade First Agreement Implementation Act has been signed into law by US President Joe Biden, officially completing the legislative process. The Ministry of Foreign Affairs (MOFA) of the Republic of China (Taiwan) sincerely welcomes and appreciates the high regard of the US administration and Congress for the US-Taiwan Initiative on 21st-Century Trade and their strong support for enhancing bilateral economic and trade relations.
Taiwan and the United States have long enjoyed a close and cordial partnership based on shared values and common interests. Bilateral ties have grown even more robust and solid through concerted efforts in recent years. The first agreement under the US-Taiwan Initiative on 21st-Century Trade is the most comprehensive trade accord signed between the two countries since 1979. It also marks an important milestone in the deepening of bilateral economic and trade relations. Following the completion of this first phase of the initiative, Taiwan and the United States will continue to hold talks on other issues to jointly advance economic and trade ties and further elevate bilateral partnership.