Bill to Boost Taiwan-US Chip Investment Moves to Senate Floor

Legislation providing treaty-like benefits between the US and Taiwan sailed through a Senate committee Thursday, as Washington seeks to woo Taipei’s producers of high-tech products to US shores without angering China.

All 27 Senate Finance Committee members voted to send the bill, which would end double taxation for firms doing business in Taiwan and the US, to the Senate floor. The legislation proposes making the changes through the tax code instead of by a tax treaty because the island democracy isn’t recognized by the US as a sovereign nation. China has claimed it as its own territory.

Deepening economic ties ...