US, Taiwan Clinch Deal to Cut Tariffs, Boost Chip Investment
Bloomberg.com • • business
Key Points:
- The US and Taiwan reached a trade agreement reducing tariffs on Taiwanese goods from 20% to 15%, aligning with rates for Japan and South Korea.
- The pact includes a commitment for Taiwanese semiconductor companies to increase investment in American operations by $500 billion.
- The new tariff rate will not be added on top of existing most-favored-nation duties, ensuring no additional tax burden on Taiwanese exports.
- This agreement marks a significant step in strengthening economic ties between the US and Taiwan amidst regional trade dynamics.
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