According to a joint statement published 24 October 2017, negotiations for a tax information exchange agreement (TIEA) between Singapore and the United States are substantially completed, and both sides are committed to signing the agreement, with the aim of doing so by the end of the year. Along with the TIEA, a reciprocal intergovernmental FATCA agreement will also be signed. The joint statement also notes that the two countries will continue discussions on whether to negotiate an income tax treaty.