Smith meets with Taiwan Ambassador Bi-khim Hsiao
Underscores close ties between the two democracies
Rep. Chris Smith (R-NJ), Chair of the Congressional-Executive Commission on China, met with Taiwan Ambassador Hsiao Bi-khim on Thursday to discuss Taiwan’s security needs and the United States’ commitment to work with the democratic country to combat the Chinese Communist Party’s (CCP) security threats and malign influence.
“In great contrast to Xi Jinping’s cruel dictatorship, Taiwan is a beacon of freedom and a great strategic partner who respects human rights and shares our values and aspirations,” said Smith, who has chaired over 85 hearings and markups on the CCP’s human rights abuses.
“Now more than ever, the United States must stand firmly with the great people of Taiwan to counter the growing threat posed by Xi Jinping’s Communist regime not only to Taiwan but also to US national security,” said Smith.
Smith and Hsiao also discussed the need to amend US Treasury Department regulations, which subject Taiwanese investors in the United States to double taxation.
“It makes no sense to penalize Taiwanese investors while privileging investors from Communist China, especially when Taiwan is investing money so we can securely manufacture semiconductors in the United States,” said Smith. “Taiwanese investors pay three times the tax rate on dividends compared to investors from China, which gets even more preferable treatment than our allies Australia and South Korea.”
“This is also a national security issue,” Smith added. “Investors from Communist China are buying farmland near strategically-sensitive locations. Meanwhile, Taiwan is investing roughly $40 billion to build semiconductor factories in the United States at our invitation so we can help insulate ourselves from mainland Chinese pressure. The US should be disincentivizing investment from Communist China while encouraging investment from democratic Taiwan—not the other way around.”
Smith also personally thanked Ambassador Hsiao for Taiwan’s donation of 300,000 medical masks to New Jersey residents in the early days of the COVID-19 pandemic after he contacted Taiwanese consulates in New York and Washington seeking personal protective equipment amid a dire shortage in the state.
“The people of Taiwan were there for us when we were facing the worst of COVID-19, and we must have their backs in their own time of need,” said Smith, who reintroduced legislation this week aimed at holding the CCP accountable for its large-scale misrepresentation campaign during the pandemic. Smith’s bill would allow US citizens the right to sue the Communist regime and ask probing questions in court that will hopefully lead to answers about the virus’ outbreak.