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Introduced on February 4, 2025 by Young Kim
This bill directs the United States to push for fair treatment of Taiwan at the International Monetary Fund (IMF). It tells the U.S. representative at the IMF to support Taiwan’s bid to join if Taiwan seeks it, to include Taiwan in the IMF’s regular economic checkups, to allow hiring of Taiwan nationals at the IMF, and to make sure Taiwan can get IMF training and technical help. It also says the United States should not discourage Taiwan from seeking IMF membership.
The Treasury Secretary may waive these requirements for up to one year at a time if doing so would help Taiwan take part meaningfully in international financial institutions, but must report those waivers to Congress. These requirements end if Taiwan joins the IMF or 10 years after the law takes effect. For the next seven years, the Treasury Secretary’s required testimony to Congress must include what the United States is doing to support Taiwan’s participation in these institutions. The bill’s findings note Taiwan’s large economy, strong trade ties with the United States, significant foreign exchange reserves, and longstanding U.S. policy that Taiwan should not be excluded from international financial institutions.