Taiwan and US sign reciprocal trade agreement｜Taiwan News

Описание: Bilingual text here: https://english.ftvnews.com.tw/news/2...
雙語文字版: https://english.ftvnews.com.tw/news/2...

Our official website: ➔ https://english.ftvnews.com.tw/

Follow us on
Facebook: ➔   / ftvformosanews  
X (Twitter): ➔ https://x.com/FTV_Taiwan_News
After many months of negotiations, Taiwan and the US have finally signed a reciprocal trade agreement. US tariffs on Taiwanese goods will be capped at 15%, Taiwan’s semiconductors and related products will be granted the most favorable treatment under Section 232 of the US’ Trade Expansion Act. A total of 2,072 Taiwanese goods amounting to early US$10 billion will be exempt from tariffs. Vice Premier Cheng Li-chiun has said that, originally, the US had hoped the tariff rates would take effect after approval from the Legislative Yuan. But Taiwan’s negotiating team managed to chance the process so that they take effect once procedural steps are completed. Still, Cheng urged the Legislature to review the agreement as soon as possible. Let’s hear from her.

Cheng Li-chiun
Vice premier
We secured a non-cumulative reciprocal tariff rate of 15%. If we factor the exempted items, the average tariff rate on Taiwan exports is just about 12.33%. That’s a total reduction of 23.45% from our two stages of negotiations. At one point, the US had requested that the tariff rates take effect after the agreement cleared the Legislative Yuan. But thanks to our efforts, the US agreed to implement them quickly, following its domestic administrative procedures. The rates will take effect once the agreement is published in the Federal Register.

Representatives from both countries posed for a commemorative photo with the agreement. From the Taiwan side, it’s Vice Premier Cheng, Minister Without Portfolio Yang Jen-ni and Taiwan’s representative to the US Alexander Yui. From the US side, it’s Secretary of Commerce Howard Lutnick, Trade Representative Jamieson Greer and AIT Managing Director Ingrid Larson. The key takeaway is that tariffs on Taiwanese goods have been reduced from 20% to 15%, putting Taiwan on par with other Asian countries such as Japan and South Korea. For key industries like the chip making industry, the pressure has eased for now.

For more Taiwan news, tune in:
Mon to Fri at 9:30 pm on Channel 152
Tue to Sat at 1 am on Channel 53

#tariffs #us #taiwan #economy #reciprocaltariffs #trump

#台灣新聞 #TaiwanNews #民視新聞 #FTV新聞 #Taiwan