What does Taiwan get from the foreign aid bill and why is the US economy among the biggest winners?

Taiwan's President Tsai Ing-wen speaks during a lunch meeting with Michael McCaul, Chairman of the US House Foreign Affairs Committee in April 2023. Photograph: Taiwan Presidential Office/Reuters

Taiwan’s president Tsai Ing-wen has praised the US Congress for passing a sweeping foreign aid package this week which included arms support for the island, and has drawn the ire of China.

After months of delays and contentious debate, the bill was signed into law by Joe Biden on Wednesday. Described as $95bn in aid for Ukraine, Israel and Taiwan, the legislation actually contains provisions that broadly affect many parts of the Asia-Pacific, while also spending billions of dollars at home in America.