The Office of the United States Trade Representative (USTR) just delivered President Biden's 2022 Trade Policy Agenda and 2021 Annual Report to Congress. The report cited Taiwan as a democratic ally and an important trading partner of the United States in the Asia-Pacific region, with which it shares a long-standing and vibrant trade relationship.

The 11th Taiwan-U.S. Trade and Investment Framework Agreement (TIFA) Council was held in June 2021. It was a key venue for both sides to resolve and make progress on a wide range of trade and investment issues. Meanwhile, in order to combat exploitative labor in global supply chains, both sides agreed to form a Labor Working Group under TIFA.

To strengthen economic and trade relations and supply chain cooperation with the United States, the Ministry of Economic Affairs (MOEA) will continue to cooperate with other relevant ministries in having dialogues with the U.S. Department of Commerce, the U.S. Department of State and other administrative departments on economic issues through such channels as the Taiwan-U.S. Technology Trade and Investment Cooperation Framework (TTIC) and the Economic Prosperity Partnership Dialogue (EPPD).
 
Recently, a senior bipartisan delegation from the United States and former Secretary of State Mike Pompeo visited Taiwan on separate occasions, demonstrating the United States' firm support for Taiwan. The relationship between Taiwan and the United States is now arguably at its historic best.