Promoting Ties with Taiwan Act This bill requires the Department of State to submit to Congress a strategy to (1) work with allies and partners to support the expansion of Taiwan's relations and engagement with countries around the world, (2) promote the establishment of Taiwan's presence in countries and partners where Taiwan does not have a permanent presence, and (3) strengthen economic relations and supply chain resilience among Taiwan and like-minded partners to counter threats and malign influences from authoritarian regimes. Within one year of submitting the strategy, the State Department must report to Congress on actions taken to carry out the strategy.