The first agreement under the U.S.-Taiwan Initiative on 21st Century Trade was signed on June 1, 2023.
Taiwan Trade Summary
U.S. total goods trade with Taiwan were an estimated $158.6 billion in 2024. U.S. goods exports to Taiwan in 2024 totaled $42.3 billion, up 6.0 percent ($2.4 billion) from 2023. U.S. goods imports from Taiwan in 2024 totaled $116.3 billion, up 32.5 percent ($28.5 billion) from 2023. The U.S. goods trade deficit with Taiwan was $73.9 billion in 2024, a 54.6 percent increase ($26.1 billion) over 2023.
