US-Taiwan trade deal becomes law with Biden's signature

US President Joe Biden has signed the trade agreement with Taiwan into law. It was reported that US President Joe Biden has signed the trade agreement between Taiwan and the US into law. In a statement released by the White House, it was announced that Biden signed the first implementation agreement bill as part of the "U.S.-Taiwan Initiative on 21st Century Trade" negotiations. In a written statement, Biden noted that the law also includes requirements for the negotiation of certain additional trade agreements with Taiwan that raise constitutional concerns. It was stated that the agreement would deepen the trade partnership of the two countries. Within the framework of the "U.S.-Taiwan Initiative on 21st Century Trade" negotiations between the US and Taiwan, agreements were reached on issues such as customs administration and trade facilitation, good regulatory practices, the fight against corruption, and small and medium-sized businesses. It was noted that with the agreement, US businesses could provide more products to Taiwan and Taiwanese customers, while more transparent, streamlined regulatory procedures could be established that could facilitate investment and economic opportunities in both markets, especially for small and medium-sized businesses. The agreement was said to deepen the trade partnership and boost trade between the US and Taiwan to promote innovation and inclusive economic growth for workers and businesses.