(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.