The most directly affected would be the government and people of Taiwan, whose unofficial diplomatic presence in the U.S. would gain a more direct and arguably higher-status name. This could enhance Taiwan's international standing and national identity, making it easier for them to operate and gain recognition without formal diplomatic ties. For U.S. citizens, it could subtly shift how Taiwan is perceived.

The U.S. Department of State would be tasked with initiating negotiations, and all U.S. government agencies would need to update their records if the name change occurs. The People's Republic of China would likely be significantly affected, as it views Taiwan as a breakaway province and would likely see this name change as a provocative step towards greater recognition of Taiwan's independence, potentially increasing regional tensions.