The U.S. Commerce Department issued a press release of an introductory call between Secretary of Commerce Gina Raimondo and Taiwan Minister of Economic Affairs Mei-hua Wang, announcing that they "intend to cooperate through a new Technology Trade and Investment Collaboration (TTIC) framework."

The press release says that the call was held "under the auspices of the American Institute in Taiwan (AIT) and the Taipei Economic and Cultural Representative Office (TECRO)." During the meeting, Raimondo "expressed the United States’ continued interest in working together with Taiwan on issues of common commercial concern, particularly in the area of semiconductor supply chains and related eco-systems."

Raimondo and Wang announced that "AIT and TECRO, in partnership with the Department of Commerce’s International Trade Administration (ITA) and the Taiwan Ministry of Economic Affairs (MOEA) Bureau of Foreign Trade (BOFT), intend to cooperate through a new Technology Trade and Investment Collaboration (TTIC) framework, under which ITA and the Taiwan authorities aim to develop commercial programs and explore actions to strengthen critical supply chains." The TTIC framework "will also support actions focused on the U.S. and Taiwan investment environment, industry trends, and new opportunities while concurrently promoting investment into the United States."

Raimondo and Wang "committed to regularly engaging with partners and stakeholders across critical supply chains, related eco-systems, and associated customer bases," and "to identifying other steps to support semiconductors and other critical supply chains and planned to instruct the designated representatives at the bureau-level to plan and convene the first meeting of the TTIC under the auspices of AIT and TECRO in the coming months."

When speaking to the media, Wang said (link in Chinese) that "this collaboration framework allows Taiwan and the United States to promote exchanges, cooperation and investment between the two sides in several key areas, including semiconductors, 5G, electric vehicles, and so on." When commenting on the surging trade surplus with the United States over recent years, Wang said that "we have also made it clear to the United States that [] sales from Taiwan allows them to obtain safer information and communication products."

A report (link in Chinese) published by the Taiwan Ministry of Economic Affairs also noted that Wang expressed hope to "further work with the United States on third party infrastructure," and help Taiwanese companies to "participate in the United States Build Back Better ​​program."