Rep. Chris Smith (R-NJ), Co-Chair of the Congressional-Executive Commission on China (CECC), issued the below statement following the U.S. Department of Commerce’s announcement that the American Institute in Taiwan and the Taipei Economic and Cultural Representative Office in the United States (TECRO) have signed a historic trade deal that will enhance Taiwanese investment in U.S. domestic semiconductor supply chains, combating global reliance on Chinese technology:

             “Today’s momentous trade agreement—achieved by President Trump—is mutually beneficial to both nations and reinforces the integral, symbiotic relationship between the United States and Taiwan.

             “Critically, Taiwan—a global semiconductor giant—has agreed to invest $250 billion in U.S. semiconductor supply chains, including the establishment of top-notch industrial parks that can produce chips and other technological infrastructure on U.S. soil. Taiwan’s investments will also help advance U.S. energy and artificial intelligence production, creating countless jobs and bolstering our economy.

             “Similarly, Taiwan will facilitate U.S. investment in its semiconductor, biotechnology, defense technology, telecommunications, and AI sectors, strengthening the collaborative relationship between our two nations and expanding vital market access for American businesses.

             “At a critical moment when the United States and Communist China are locked in a tight race for technological dominance, Taiwan’s impressive investment in U.S. technological development makes a world of difference. By standing and working with Taiwan, our loyal ally, we can ensure that the PRC’s attempts at global technological dominance are overshadowed by the U.S.-Taiwan technological partnership and superior ingenuity.”

###