Resolution Supporting the United States in Signing a Bilateral Trade Agreement with Taiwan

Policy Status

  • Type: Model Resolution
  • Status: Final
  • Date Introduced: December 3, 2020
  • Date Finalized: January 8, 2021

Issues

  • International Trade

    • Task Forces

  • Federalism and International Relations

    • Related Articles

    Tags

  • SNPS 2020
  • SNPS 2020 Policy

    • Summary

    The economic bonds between the United States and Taiwan have continued to grow over the years. On August 28, 2020, Taiwan President Tsai Ing-wen announced the decision to resolve outstanding issues of beef and pork in bilateral trade with the United States, in an effort to remove obstacles and pave the way for advancing the bilateral US-Taiwan trade relationship. This is a timely effort, amidst international discussions on supply chain security and the need to stimulate economic recovery from the COVID-19 pandemic. It is time to forge a US-Taiwan Bilateral Trade Agreement (BTA) to further create the infrastructure to fortify and deepen the already significant trade relationship between reliable and like-minded partners. In light of the American Legislative Exchange Council’s principle on expanding free markets, this resolution supports and calls for the signing of a Bilateral Trade Agreement between the United States and Taiwan.
    Draft

    Resolution Supporting the United States in Signing a Bilateral Trade Agreement with Taiwan

    Whereas, the United States and Taiwan have enjoyed long-standing partnership with the shared common values of freedom, democracy, and human rights; and

    Whereas, Taiwan is an exceedingly vibrant and dynamic democracy, described as a “democratic beacon of hope” for the Indo-Pacific, serving as a key trading partner and strategic ally to the United States, ranking as the 11th freest economy in the world according to the Heritage Foundation’s 2020 Index of Economic Freedom; and

    Whereas, the United States ranks as Taiwan’s 2nd  largest trading partner and the 3rd  largest source of energy imports; Taiwan was the United States’ 9th largest trading partner in the first half of 2020, the 7th largest agricultural export market in 2019, and the 6th largest export market for US beef; and

    Whereas, Taiwan supported over 373,000 well-paying American jobs through investment from Taiwan-affiliated companies and exports of the United States goods and services to Taiwan and the two-way trade volume reached 85.5 billion dollars in 2019; and

    Whereas, it is in the interests of both nations to negotiate a bilateral trade agreement during the COVID-19 pandemic, to further expand the global market and secure international supply chains; and

    Whereas, American and Taiwanese industries are highly complementary, and a bilateral trade agreement would facilitate cross-border commerce ensuring mutual market access and enabling legal harmonization in digital trade, intellectual property, medical device standards, and many other areas; and

    Whereas, 161 bipartisan Members in the House of Representatives sent a joint letter of support for signing a bilateral trade agreement with Taiwan; it would not only further strengthen both sides’ economic cooperation and their trading partnership but also create growth opportunities for the United States jobs and exports to the benefit of the US economy; and

    Therefore be it resolved, that lawmakers from [INSERT STATE] support and urge the President of the United States to launch immediate negotiations with Taiwan on the establishment of a Bilateral Trade Agreement between our two democracies.