US and Taiwan Finalize Trade Agreement to Lower Tariffs and Boost Investments
The US and Taiwan have finalized a trade agreement aimed at reducing tariffs and enhancing market access for American products. Taiwan commits to purchasing over $44 billion in US liquefied natural gas and crude oil, $15 billion in civil aircraft, and investing $25 billion in power-generation equipment by 2029. The agreement lowers tariffs on Taiwanese goods to 15% and includes exemptions for certain products. The deal requires approval from Taiwan's legislature amidst concerns over transparency and local industry impacts.
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The US and Taiwan have finalized a trade agreement to reduce tariffs and increase investments, with Taiwan pledging over $44 billion for US liquefied natural gas and crude oil, $15 billion for civil aircraft, and $25 billion for power-generation equipment by 2029. Tariffs on goods from Taiwan will be lowered to 15%, with exemptions for specific products.
The agreement includes provisions for US companies to increase semiconductor production in Taiwan, though details on financing remain unclear. The deal now awaits approval from Taiwan's legislature, facing opposition due to transparency concerns.
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