Arizona House Bill HCR2061

Arizona 2024 Regular Session

• Introduced: 6/14/24

Caption

United States; Taiwan; supporting trade

Impact

The resolution emphasizes Arizona's economic interests, notably in light of Taiwan being the state's ninth largest export market, accounting for $765 million in exports in 2022. Additionally, the bill points out the substantial investment by the Taiwan Semiconductor Manufacturing Company (TSMC) in Arizona, with an increase from $12 billion to $40 billion for the construction of advanced facilities. This investment is set to generate approximately 10,000 high-paying jobs, showcasing the potential benefits of stronger trade relations with Taiwan and underscoring Arizona’s economic development.

Summary

HCR2061 is a concurrent resolution introduced in the State of Arizona that aims to support a closer trade partnership between the United States and Taiwan. The bill highlights the significant trade relationship, which reached an estimated $135.6 billion in 2022, positioning Taiwan as the ninth largest trading partner of the U.S. This resolution not only reflects a desire for enhanced economic ties but also acknowledges past actions by Congress encouraging negotiations for a bilateral trade agreement with Taiwan, reinforcing bipartisan support for stronger economic collaboration.

Contention

While HCR2061 is primarily a supportive resolution, it does raise questions about the geopolitical implications. The call for a bilateral trade agreement and Taiwan's inclusion in various international organizations reflects the U.S. commitment to supporting Taiwan on the global stage. However, such actions may provoke tensions with the People's Republic of China, which considers Taiwan a part of its territory. As a result, the resolution might face scrutiny regarding its diplomatic ramifications, with potential pushback from various stakeholders concerned about the United States' stance towards Taiwan and mainland China.