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Free AccessHouse Committee To Vote On Taiwan Legislation Tuesday
MNI London: The House Ways and Means Committee will vote tomorrow to impose greater Congressional oversight on issues relating to Taiwan.
- The vote, which will come within a broader markup of tax legislation, will approve a Taiwan trade deal stuck by the Biden administration in May and, "impose new congressional consultation and transparency requirements on the administration for negotiations with Taiwan on other potential agreements covering agricultural, digital trade, labor, environment and other areas laid out in a negotiating mandate last year," according to Politico.
- Ways and Means Chair Jason Smith (R-MT) said in a statement with congressional trade leaders: “It is imperative that we act now in a bipartisan manner to support this early agreement with Taiwan, require that Congress be consulted on and approve any future trade steps with Taiwan, and ensure any such future agreements like this are only established through robust Congressional consultation and a vote of approval."
- The vote appears set to rein in some of the executive powers used by the Biden administration to negotiate wide-ranging trade deals without Congressional approval, as they have done with recently with Japan and the Indo-Pacific Economic Framework.
To read the full story
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Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.