U.S. Congress passes Taiwan trade bill
United States-Taiwan Initiative on 21st-Century Trade First Agreement Implementation Act
United States-Taiwan Initiative on 21st-Century Trade First Agreement Implementation Act
The U.S. Senate passed H.R. 4004—the United States-Taiwan Initiative on 21st-Century Trade First Agreement Implementation Act—and it has been sent to the White House for action by the president.
The U.S. House of Representatives previously passed the legislation in June 2023.
A summary explains that the bill:
- Expresses the approval of Congress for the June 1, 2023, agreement regarding trade between the United States and Taiwan
- Imposes requirements on the negotiations of certain further trade agreements between the United States and Taiwan
- Imposes requirements on the negotiation of further agreements under the United States-Taiwan Initiative on 21st-Century Trade
The June 1, 2023, agreement may enter into force no earlier than 30 days after the president certifies in writing to Congress that Taiwan has taken measures necessary to comply with the agreement.
In addition, a further agreement will not take effect unless (1) the president, at least 60 days before entering into the further agreement, makes the text publicly available on a USTR website; and (2) a bill is enacted into law expressly approving the further agreement.
Read text [PDF 118 KB] of the bill
For more information, contact a professional with KPMG’s Trade & Customs services:
Doug Zuvich |
John L. McLoughlin |
Andy Siciliano |
Steve Brotherton |
Luis (Lou) Abad |
Irina Vaysfeld |
Amie Ahanchian |
Christopher Young |
Gisele Belotto |
George Zaharatos |
Andy Doornaert |
Jessica Libby Principal E: jlibby@kpmg.com |
| John Anderson Managing Director E: johneanderson@kpmg.com |
Jenna Leigh Glass Managing Director |
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