As Taiwan lifted its import ban on pork with ractopamine, the major obstacle for a US-Taiwan FTA has been removed. It is time for USTR to consider starting to negotiate a bilateral trade agreement with Taiwan.
- Taiwan is overly reliant on the Chinese economy: 40% of exports and 70% of investment goes to the Chinese market. This gives the PRC a leverage to affect the political decision making in Taiwan and as a consequence undermines Taiwan’s sovereignty.
- The PRC has been blocking Taiwan from signing FTAs with other countries. As a country that strongly supports market economy, it is in the U.S. interest to oppose the PRC’s bullying of Taiwan by signing a US-Taiwan FTA.
- S.Res.804 (116th): A resolution expressing the sense of the Senate that the United States should initiate negotiations to enter into a free trade agreement with Taiwan.
- H.Con.Res.117 (116th): Expressing the sense of Congress that the United States should resume normal diplomatic relations with Taiwan, negotiate a bilateral free trade agreement with Taiwan, and support Taiwan’s membership in international organizations.