Taiwan says ‘general consensus’ reached with US on trade deal

US media reports accidental tariffs volition beryllium chopped to 15 percent successful speech for TSMC investment.

Taiwan and the United States person reached a “general consensus” connected a commercialized pact that would trim US tariffs connected Taiwanese exports, officials successful Taipei person said.

Taiwan’s Office of Trade Negotiations said connected Tuesday that the outlines of a woody had been reached pursuing months of negotiations with US officials.

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“The extremity of the US-Taiwan tariff negotiations has ever been to question reciprocal tariff reductions without stacking tariffs, and to get preferential attraction nether Section 232,” the bureau said successful a statement, according to the AFP quality agency.

The commercialized bureau did not instantly respond to Al Jazeera’s petition for comment.

US President Donald Trump announced a 32 percent “reciprocal tariff” connected Taiwanese exports successful April, earlier lowering the complaint to 20 percent successful August pending further negotiations.

Countries person made pledges to boost investments successful the US successful speech for tariff alleviation since Trump launched his commercialized warfare past year.

Japan and South Korea past twelvemonth agreed to put $550bn and $350bn, respectively, to spot their tariff rates chopped from 25 to 15 percent.

Taiwan’s commercialized bureau did not supply details connected the deal, but Bloomberg and The New York Times reported that the self-governing island’s tariff complaint would beryllium lowered to 15 percent.

As portion of the deal, the Taiwan Semiconductor Manufacturing Company (TSMC) would hold to physique astatine slightest 4 much accumulation facilities successful the US authorities of Arizona, according to Bloomberg and The New York Times, which cited unnamed officials.

TSMC, the world’s largest chipmaker and supplier to companies specified arsenic Nvidia and Apple, said successful March that it planned to walk $100bn connected caller fabrication and packing plants successful the US, bringing its full concern successful the state to $165bn.

Due to its strategical importance, the chipmaker has been nether unit from Washington since 2020 to grow accumulation extracurricular Taiwan.

The US fears that a blockade of Taiwan by China, which claims the land arsenic its territory, could chopped disconnected entree to TSMC’s chips.

While TSMC has agreed to physique caller accumulation facilities successful the US, Japan, and Germany, it continues to marque its astir precocious chips successful Taiwan.