Returning With American Optimism
There has seemingly never been more resounding advocacy for Taiwan on the Hill. America’s message during AmCham’s 2024 Doorknock trip was clear: support for Taiwan is strong ad bipartisan.
Almost 20 senior members and staff traveled to Washington, D.C., in late June as the Chamber’s Doorknock returned in full glory after a five-year hiatus. They met with members of Congress, the Senate, think tanks, and other important stakeholders to discuss pressing issues. At the top of the agenda was double taxation avoidance, the U.S.-Taiwan Initiative on 21st Century Trade, resilience and defense, and the upcoming elections.
Discussions revolved around key issues like robust supply chains, the digital economy, and the future of the bilateral relationship. Each topic highlighted the strategic importance of Taiwan in the global arena, particularly in technology and defense sectors.
Supply Chain Resilience
One of the pivotal discussions during the Doorknock sessions focused on enhancing supply chain resilience, emphasizing Taiwan’s critical role in the global semiconductor and advanced computing industries. Dialogue shed light on U.S. initiatives aimed at more deeply integrating Taiwan into its industrial and technological frameworks. This strategic integration is seen as essential to bolster both economies against potential economic coercion by China.
Participants discussed the necessity of building a highly durable supply chain that can endure geopolitical tensions and reduce vulnerabilities to disruptions. The United States and Taiwan are exploring streamlined trade policies and investment climates to facilitate smoother and more predictable business operations.
Digital Economy
Meetings revealed concerns about policy continuity and clarity, particularly with the recent changes in Taiwan. Industry leaders called for more definitive requirements in energy resilience, secure cloud services, and critical supply stockpiles. The strategic digital trade ties are being fortified, recognizing Taiwan’s vital role despite challenges from geopolitical tensions.
A significant focus was on cybersecurity as a cornerstone of digital policy, aiming to protect the integrity of digital trade and infrastructure. The U.S. side encouraged Taiwan to adopt proactive regulations for AI and other digital technologies, aligning with international standards like those in the EU and the United States.
Implications of the Double Taxation ADTA Bill
The ADTA bill was another critical topic, with broad bipartisan support acknowledged as crucial for economic cooperation between the United States and Taiwan. The bill’s passage, however, faces delays due to its association with more contentious legislative issues. Resolving double taxation would not only facilitate smoother operations for companies like TSMC and its SME suppliers but also strengthen economic ties and improve Taiwan’s strategic positioning globally.
U.S.-Taiwan Defense and Security Cooperation
Discussions on defense and security highlighted the bipartisan support in the States for Taiwan and the strategic military assistance being provided, including expedited delivery of military equipment. This support seeks to advance Taiwan’s immediate defense capabilities against the rising military threats from China, focusing on both traditional and asymmetric warfare readiness.
Looking Forward
Ultimately, the sessions have set a foundational dialogue for future economic and security initiatives, ensuring that both Taiwan and the United States can navigate the complexities of their bilateral relationship in an increasingly uncertain global environment.
In the upcoming month, AmCham will invite members for a more in-depth dissection of its findings from the 2024 Doorknock.