Council members consist of private companies with business interests in Taiwan, and range in size from one-person consulting firms to large multinational corporations.

The mission of the US–Taiwan Business Council – as defined in its bylaws – is to develop private economic, commercial and financial relationships, to foster investment, trade, and commerce between the United States and Taiwan.

[3] The organization provides a variety of services to its members, including: Tactical and strategic business advice to companies looking to get established, or to expand, in the Taiwan market.

Issues covered include General Business, Finance & Banking, Defense & Security, Semiconductors, PCs, Intellectual property, and Biotechnology, among others.

The council occasionally publishes reports providing up-to-date analysis on events and developments that affect businesses operating within the triangular U.S.-Taiwan-China relationship.

Both the United States Congress and the Executive Branch frequently call upon the organization to express its views on the US-Taiwan business relationship.

Since U.S. diplomatic recognition had been transferred from Taipei to Beijing, the council took on greater importance as it continued to work towards strengthening trade and communications with Taiwan on behalf of American companies.

The council also moved once more to Arlington, Virginia, to share a floor with the American Institute in Taiwan (AIT), the entity that – under contract to the U.S. State Department – manages America’s unofficial relationship with the island.

In 2001, the name of the organization was again changed to “US-Taiwan Business Council.” In 2003, William Cohen was elected as chairman, and Senator Conrad Burns of Montana took the place of Frank Murkowski as honorary co-chairman.