Congress Sends Chairman Smith’s Taiwan Trade Bill to President for Signature
WASHINGTON, D.C. – Bipartisan Ways and Means Committee legislation, the United States-Taiwan Initiative on 21st-Century Trade First Agreement Implementation Act, is headed to President Biden’s desk, after Speaker Kevin McCarthy (CA-20) signed the legislation. The bill confirms Congress’ support for the initial trade agreement that was negotiated by the United States and Taiwan, stipulates that the agreement and future agreements with Taiwan cannot take effect without congressional approval, and requires that the Biden Administration consult with Congress and the American people on any future agreements with Taiwan. The bill garnered strong bipartisan support in the House and in the Senate.
Speaker McCarthy said: “The relationship between the United States and Taiwan is grounded in our shared commitment to peace and democracy, and our economic partnership is critical in our pursuit of freedom across the world. I am grateful to Chairman Jason Smith for understanding this important friendship and putting forth legislation which will serve as a first step of many in House Republicans’ continued efforts to support the people of Taiwan.
“Congress is focused on ensuring trade agreements are in the best interest of American workers, families, farmers, and small businesses. Thank you to Senators Wyden and Crapo and Ranking Member Neal for partnering to stand up for Congress’ constitutional authority over trade. A bipartisan coalition in the House and Senate came together to send the message that the responsibility for trade policy rests, as defined by the Constitution, with the branch closest to the people,” said Ways and Means Committee Chairman Jason Smith (MO-08). “As China continues to threaten American interests, Taiwan has maintained a close trade relationship with America. This legislation strengthens that relationship with this vital ally and ensures the American people have a powerful voice, through their representatives, in future trade negotiations. President Biden should sign this legislation into law without delay.”