TNC Business Strategy Research
Taiwan 2020 Urging Washington and Taipei to Sign BTA
Urging Washington and Taipei to Sign BTA
Lotta Danielsson, vice chairman of the Business Council of Taiwan’s non-profit organization in the United States, urged Washington and Taipei to sign a bilateral trade agreement (BTA) after Taiwan announced its decision to lift the limitation on the pork and beef imported from U.S.
Despite of opposition from opposition politicians and local farmers, Taiwanese government has eliminated the main obstacle and made closer trading with the United States. She said Washington should deepen economic cooperation between the 2 countries.
Members of the US House of Representatives are increasingly supporting the BTA with Taiwan and the "Taipei Act" passed by Congress has also encouraged business with Taiwan, emphasized by Danielsson. She mentioned that BTA can benefit the United States by allowing Taiwan to play a more important role in Indo-Pacific region. Taiwan’s semiconductor industry is vital to the global technology supply chain and can help American technology companies having new business opportunities.
At the same time, Danielsson pointed out that if Taiwan fails to establish deeper relations with other countries, it may be forced to establish economic partnerships with China. She pointed out that China's increased influence in the Taiwan market may harm the interests of the United States. Therefore, the BTA signed with Washington will reduce the country's economic dependence on China.