Taiwan applauds U.S. Senate's passage of China competition bill
Taipei, June 9 (CNA) Taiwan's Ministry of Foreign Affairs (MOFA) on Wednesday commended the United States Senate for passing an expansive bill to counter China's growing economic influence.
The U.S. Innovation and Competition Act, which passed the Senate with a 68-32 vote on Tuesday, also demonstrates bipartisan support among American lawmakers for stronger Taiwan-U.S. ties, MOFA said.
Aimed at bolstering the U.S.' competitive edge against China, the bill paves the way for an investment of US$250 billion in scientific and technological innovations such as semiconductor manufacturing and advanced wireless technologies.
The bill, introduced by Senate Majority Leader Chuck Schumer and Republican Sen. Todd Young, also incorporates legislation that will facilitate expanded ties with Taiwan, MOFA said.
Among them are the Taiwan Fellowship Act and Taiwan Symbols of sovereignty Act, the foreign ministry said.
Under the Taiwan Fellowship Act, the U.S. will authorize US$17.3 million over seven years to provide fellowships to eligible U.S. citizens for up to two years in Taiwan.
The Taiwan Symbols of Sovereignty Act, meanwhile, requires the U.S. Secretary of State to rescind any measures limiting the ability of the Republic of China (Taiwan) or its Taipei Economic and Cultural Representative Office (TECRO) to display symbols of Taiwan's sovereignty for official purposes.
The U.S. Innovation and Competition Act has been sent to the House of Representatives for consideration.
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