On October 20, 2025, Minister of Economic Affairs Kung Ming-Hsin and Tennessee Governor Bill Lee signed a Memorandum of Understanding (MOU) on Economic and Trade Cooperation, marking a new milestone in strengthening bilateral cooperation.

This MOU sets the stage for collaboration across various sectors, such as artificial intelligence, computing servers, and advanced manufacturing, thereby laying the foundation for deeper trade, investment, and industrial partnerships between the two sides.

Minister Kung emphasized that Tennessee, renowned for its robust automotive sector and its emergence as an important AI hub in the United States, is a key partner for Taiwan in advancing its industrial capabilities and strengthening supply chain resilience.

He further welcomed Tennessee's plan to establish a representative office in Taiwan, which Governor Lee highlighted would be Tennessee's 13th global presence, providing a direct channel for Taiwanese companies and facilitating closer ties between both sides.

Bilateral trade has grown substantially, rising from US$4.59 billion in 2022 to US$7.76 billion in 2024. With this MOU, both sides reaffirm their commitments to intensifying their industrial cooperation and advancing mutually beneficial win-win partnerships.