TAIPEI: Taiwan remains engaged in negotiations with the US to secure improved tariff terms following a 20% levy imposed by former President Donald Trump. Vice Premier Cheng Li-chiun confirmed the discussions during a press briefing on Monday.
“Taiwan’s goal is to seek a better and more reasonable tariff rate from the U.S.,“ Cheng stated. She emphasised that talks are ongoing and updates will be provided to Taiwan’s parliament.
The negotiations coincide with a US national security review under Section 232 of the 1962 Trade Expansion Act. Taiwan holds the sixth-largest trade deficit with the US, driven largely by semiconductor exports.
Taiwan Semiconductor Manufacturing Company (TSMC), the world’s top contract chipmaker, supplies major tech firms like Nvidia. Semiconductors, electronics, and ICT products dominate Taiwan’s US-bound exports.
Final tariff rates for these critical sectors are still under discussion. The outcome will significantly impact Taiwan’s trade dynamics with the US. – Reuters