Taiwan hails its ‘best’ trade deal with US, as China protests
ABC News • • business
Key Points:
- Taiwan and the United States have reached a trade deal reducing U.S. tariffs on Taiwanese goods to 15% in exchange for $250 billion in new U.S. tech investments, matching tariff levels with the EU, Japan, and South Korea.
- Taiwan Premier Cho Jung-tai described the deal as the "best tariff deal" for countries with trade surpluses with the U.S., emphasizing Taiwan's strategic partnership with Washington.
- China condemned the agreement, with a Foreign Ministry spokesperson opposing any deals implying official relations with Taiwan, which China claims as its territory.
- The U.S. Department of Commerce highlighted that the deal will support reshoring of the semiconductor industry by establishing U.S.-based industrial parks and providing favorable tariff treatment
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