Ranking Member Krishnamoorthi Applauds Announcement of Trade Deal Between the United States and Taiwan

WASHINGTON, D.C. – Today, Congressman Raja Krishnamoorthi (D-IL), Ranking Member of the Select Committee on the Strategic Competition Between the United States and the CCP, released the following statement on the announcement of the first trade deal between the United States and Taiwan under the U.S.-Taiwan Initiative on 21st Century Trade.

“I am pleased to see the United States and Taiwan take another step in strengthening our economic bonds by signing this historic new trade agreement under the U.S.-Taiwan Initiative on 21st Century Trade,” said Ranking Member Krishnamoorthi. “This is good news for American manufacturers who will be able to sell more goods into Taiwan with reduced red tape and restrictions. It will also help Taiwan build their own economic resilience in the face of an increasingly aggressive and coercive Chinese Communist Party. I look forward to working with members of the Select Committee to further support initiatives that strengthen the security, stability, and prosperity of both the United States and Taiwan.”

This new trade deal falls in line with the policy recommendation set forth in the Select Committee on the CCP’s recently released, bipartisan ‘Ten for Taiwan’ report, which states, “Accordingly, Congress should support efforts to reduce the taxation burden on U.S.-Taiwan cross-border investment as well as broader trade negotiations with a particular focus on developing shared standards and regulations to combat the CCP’s unfair economic policies.”

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