Senate Committee Backs Bill to Deepen U.S. Economic Ties With Taiwan

The Senate Finance Committee on Thursday passed a bill that would deepen economic ties between the United States and Taiwan and effectively create a tax treaty that is expected to pave the way for more Taiwanese investment in the American semiconductor industry.

The effort by Congress could inflame tensions between the United States and China at a time when the Biden administration has been working to stabilize the relationship. President Biden dispatched three cabinet officials to Beijing…