What industries stand to gain from the U.S.-Taiwan FTA?
Taiwans economy is already very open to U.S. exports. We have removed many barriers and lowered tariffs as a result of our accession to the WTO on January 1, 2002. The studies performed on the gains from a U.S.-Taiwan FTA show clear benefits for the U.S. in areas like financial services, transportation, education and telecommunications. U.S. agricultural exports should also increase V we estimate by as much as $500 million per year. The U.S. and Taiwan information technology industries are already very closely intertwined. We would expect cooperation in the IT sector to deepen and grow under the FTA. In general, in view of the complementary industrial structure of our two countries, an FTA between the U.S. and Taiwan would produce broad-based gains for both economies, while largely avoiding disruptions or economic displacement as a result of trade competition…….
