U.S. Trade Commission Investigates Free Trade With Taiwan
WASHINGTON, DC (BRAIN)--The Senate Committee on Finance began an investigation into the likely economic impact of a free trade agreement (FTA) between the United States and Taiwan.
The U.S. International Trade Commission (ITC) will submit its report on the subject by
October, said Brian Allen, an ITC trade analyst assigned to the bike industry. As part of its investigation, the ITC will hold a public hearing May 13. It is inviting members of industries impacted by this decision to submit comment.
Taiwan's recent entry into the World Trade Organization has strengthened its role as a U.S. trading partner making an FTA possible. Such an agreement would be similar to Canada and Mexico's trading relationship spelled out in the North American Free Trade Agreement (NAFTA). This move would be a big boon for Taiwan's bicycle manufacturers since tariffs reductions are usually a part of FTAs. This would make Taiwanese bikes more cost competitive with Chinese bikes. Lower tariffs also benefit consumers by lowering selling prices.
Anyone from the bicycle industry wishing to comment on this proposed change in status can contact Brian Allen, U.S. International Trade Commission trade analyst at (202) 708-4728.
The U.S. International Trade Commission (ITC) will submit its report on the subject by
Taiwan's recent entry into the World Trade Organization has strengthened its role as a U.S. trading partner making an FTA possible. Such an agreement would be similar to Canada and Mexico's trading relationship spelled out in the North American Free Trade Agreement (NAFTA). This move would be a big boon for Taiwan's bicycle manufacturers since tariffs reductions are usually a part of FTAs. This would make Taiwanese bikes more cost competitive with Chinese bikes. Lower tariffs also benefit consumers by lowering selling prices.
Anyone from the bicycle industry wishing to comment on this proposed change in status can contact Brian Allen, U.S. International Trade Commission trade analyst at (202) 708-4728.
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