House Ways and Means Committee Chairman Jason Smith (MO-08) released the following statement after President Biden signed H.R. 4004, the United States – Taiwan Initiative on 21st Century Trade Agreement Implementation Act, into law.
“Congress’s constitutional authority over trade is well-established and represents the will of the American people. I am glad that President Biden signed this legislation that reinforces our strong trade relationship with Taiwan and makes the initial trade agreement with Taiwan durable. What President Biden signed is not a suggestion – it’s the law. Congress will hold the President and his Administration accountable for following its requirements to the letter.
“The President cannot ignore the core principle this legislation reiterates—that the Executive Branch can only enter into binding trade agreements with approval from Congress. This applies both to ongoing negotiations with Taiwan and trade initiatives being negotiated with other partners, all of which must show concrete benefits to American workers, small businesses, and farmers to earn the support of Congress.”