Taiwan Strikes Trade Deal with Trump, Vows More U.S. Chip Factories
The New York Times • • business
Key Points:
- The United States and Taiwan reached a trade agreement involving a $250 billion investment in semiconductor and technology manufacturing in the U.S., with a reciprocal reduction of U.S. tariffs on Taiwanese imports from 20% to 15%.
- Taiwan will provide an additional $250 billion in credit guarantees to support smaller companies in the semiconductor supply chain to expand operations in the United States.
- Negotiations included more than a dozen meetings between Taiwanese and U.S. officials, with multiple trips to Washington led by Vice Premier Cheng Li-chiun and trade representative Yang Jen-ni.
- Taiwan's economy is heavily export-driven, with the U.S. now its largest buyer, particularly of computer chips, electronics, and steel products such as screws and bolts
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