Washington, D.C. – Congressman Darin LaHood (IL-16), a member of the Ways and Means Trade Subcommittee, joined the full Ways and Means Committee to advance bipartisan, bicameral legislation to approve agreements signed under the U.S.-Taiwan Initiative on 21st-Century Trade, and set robust transparency and Congressional consultation requirements for any future agreements negotiated under the initiative.
"Congress has a constitutional obligation to lead on trade, and this bipartisan bill underscores the strong desire in Congress for a robust and ambitious trade agenda, particularly in the Indo-Pacific region," said Rep. LaHood. "As the United States and Taiwan deepen economic engagement, the bill requires that Congress be consulted on and approve any future trade steps with Taiwan."
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LaHood spoke in favor of the legislation during the Ways and Means mark-up and his remarks can be viewed above and HERE.
This bill approves the first agreement under the U.S.-Taiwan Initiative on 21st-Century Trade, which sets rules of the road in five areas of trade: customs administration and trade facilitation, good regulatory practices, services regulation, anti-corruption, and small and medium-sized businesses.
The legislation:
- Provides for congressional approval of the first agreement arising from the U.S.-Taiwan Initiative on 21st Century Trade; and
- Imposes new congressional consultation and transparency requirements on the Administration with respect to the negotiation of any subsequent agreements arising under the initiative.
LaHood recently spoke about the importance of developing a strong economic relationship with Taiwan at a Ways and Means Trade Subcommittee hearing on China, and he is also a member of the Select Committee on China.
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