S. 821: Taiwan Assurance Implementation Act

This bill, known as the Taiwan Assurance Implementation Act, aims to enhance the United States' reporting and oversight regarding its guidelines on relations with Taiwan. Here’s a breakdown of what the bill proposes:

Increased Reporting Requirements

The bill seeks to amend an existing law, specifically the Taiwan Assurance Act of 2020. The key changes include:

• Updating the references to any official documents that provide guidance on U.S. relations with Taiwan, expanding what is included beyond just a single memorandum.
• Establishing a schedule for periodic reviews of the U.S. Department of State's guidance concerning Taiwan, which must occur at least once every five years.

Secretary of State Responsibilities

The bill places specific responsibilities on the Secretary of State:

• The Secretary must conduct a review of the guidance on Taiwan relations every five years. This includes the periodic memorandum titled "Guidelines on Relations with Taiwan" and other related documents.
• After each review, the Secretary is required to submit an updated report to both the Senate Foreign Relations Committee and the House Foreign Affairs Committee within 90 days of completing the review.

Contents of Updated Reports

The updated reports, as mandated by the bill, must contain:

• All information that was previously required under the existing reporting section.
• A description of how the updated guidance aligns with the goals and objectives related to U.S.-Taiwan relations.
• An identification of any self-imposed restrictions on U.S.-Taiwan relations that were lifted in the most recent update, demonstrating a clearer picture of how U.S. policy may be evolving.

Objective

The overall goal of the bill is to ensure that U.S. policy regarding Taiwan is regularly reviewed and updated, enhancing transparency and accountability in how the U.S. engages with Taiwan. This could potentially provide greater clarity to both U.S. agencies and the public about the nature of U.S.-Taiwan relations and any changes in policy that may occur over time.

Relevant Companies

• TSM - Taiwan Semiconductor Manufacturing Company: Given its critical role in global semiconductor supply chains, any changes in U.S. relations with Taiwan could impact TSM's operations and partnerships.
• AAPL - Apple Inc.: Apple relies heavily on Taiwanese manufacturers for its components. Changes in relations or policy could affect its supply chain or operational strategies.
• NVDA - NVIDIA Corporation: As a major player in the chip industry that collaborates with Taiwanese suppliers, NVIDIA could face operational impacts due to changes in U.S.-Taiwan relations.