WASHINGTON – U.S. Senator Bob Menendez (D-N.J.), Chairman of the Senate Foreign Relations Committee, released the following statement in reaction to successful negotiation of the first ever U.S.-Taiwan Trade Initiative:
“As the Co-Chair of the Senate Taiwan Caucus, I have long called for the United States to negotiate a comprehensive free trade agreement with Taiwan to strengthen our economic partnership. Today’s signing of the first agreement between the United States and Taiwan under the Initiative on 21st Century Trade is a strong first step toward that goal.
“Taiwan shares our most fundamental values and interests – including respect for human rights, democracy, free markets, and the rule of law - and increased economic ties with Taipei will strengthen U.S. economic security and supply chain resiliency. That’s why I have introduced the Taiwan Tax Agreement Act that will authorize the negotiation and conclusion of a tax agreement with respect to United States and Taiwan, and to provide for broader economic ties between our people. I look forward to working with the State Department, Treasury, and the U.S. Trade Representative on future negotiations with Taiwan to ensure that they are fully transparent with the public, and are durable because they include close consultation with and approval by Congress.”
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