Taiwan hails its trade deal with the US, while China objects
AP News • • business
Key Points:
- Taiwan and the United States reached a trade deal reducing U.S. tariffs on Taiwanese goods to 15% in exchange for $250 billion in new U.S. tech industry investments, matching tariff levels with the EU and Japan.
- Taiwan Premier Cho Jung-tai hailed the agreement as the best tariff deal for countries with trade surpluses with the U.S., emphasizing Taiwan's strategic partnership with Washington.
- China condemned the deal, with a Foreign Ministry spokesperson opposing any agreements between Taiwan and other countries that imply sovereignty over Taiwan.
- The U.S. Commerce Department highlighted the deal as historic, aiming to boost domestic semiconductor manufacturing by establishing U.S.-based industrial parks and offering favorable tariff treatment to Taiwanese semiconductor investors.
- The agreement
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