The House passed the measure on Wednesday evening by voice vote, sending it to the Senate for consideration.
The US-Taiwan Initiative on 21st-Century Trade First Agreement Implementation Act expresses Congress' approval for the agreement regarding trade between the United States and Taiwan. It also would require additional negotiations for certain other possible trade agreements between the United States and Taiwan.
The bill also establishes that the agreement agreed to on June 1 may enter into force no earlier than 30 days after the US president certifies in writing to Congress that Taiwan has taken measures necessary to comply with the agreement.
Moreover, the legislation requires the US Trade Representative be fully transparent of its negotiations with Taiwan.
Last month, the American Institute in Taiwan (AIT) and the Taipei Economic and Cultural Representative Office in the United States (TECRO) met to finish negotiations on the first phase of the US-Taiwan Initiative on 21st Century Trade.
This agreement addresses trade matters in the areas of customs administration and trade facilitation, good regulatory practices, services domestic regulation, anticorruption, and small and medium-sized enterprises.
The provisions in the first trade agreement, the USTR said, will help US businesses be able to bring more products to Taiwan and Taiwanese customers, while creating conditions to facilitate investment and economic opportunities in both markets, especially for small- and medium-sized companies.
China previously said it opposes the United States' initiative to strengthen economic ties with Taiwan, specifically any efforts with sovereign connotations and of an official nature.