(1) The people of the United States and the people of the
Republic of China on Taiwan have long enjoyed extensive ties.
(2) Taiwan is currently the 8th largest trading partner of
the United States.
(3) The executive branch of Government has committed
publicly to support Taiwan's bid to join the World Trade Organization and has declared
that the United States will not oppose this bid solely on the grounds that the People's
Republic of China, which also seeks membership in the World Trade Organization, is not yet
eligible because of its unacceptable trade practices.
(4) The United States and Taiwan have concluded
discussions on a variety of outstanding trade issues that remain unresolved with the
People's Republic of China and that are necessary for the United States to support
Taiwan's membership in the World Trade Organization.
(5) The reversion of control over Hong Kong -- a member of
the World Trade Organization -- to the People's Republic of China in many respects affords
to the People's Republic of China the practical benefit of membership in the World Trade
Organization for a substantial portion of its trade in goods despite the fact that the
trade practices of the People's Republic of China currently fall far short of what the
United States expects for membership in the World Trade Organization.
(6) The executive branch of Government has announced its
interest in the admission of the People's Republic of China to the World Trade
Organization; the fundamental sense of fairness of the people of the United States
warrants the United States Government's support for Taiwan's relatively more meritorious
application for membership in the World Trade Organization.
(7) Despite having made significant progress in
negotiations for its accession to the World Trade Organization, Taiwan has yet to offer
acceptable terms of accession in agricultural and certain other market sectors.
(7) It is in the economic interest of United States
consumers and exporters for Taiwan to complete those requirements for accession to the
World Trade Organization at the earliest possible moment.