TAIPEI: Taiwan and the US have reached a “broad consensus” on their tariff talks and are discussing a timetable for holding a concluding assembly, Taipei stated on Tuesday (Jan 13), as a supply accustomed to the matter stated an announcement might come by the top of the month.
Taiwan is aiming for tariffs on its exports to the US to be lower to fifteen per cent from 20 per cent, the federal government stated in December.
Taiwan and the US started negotiations in April to hash out a commerce deal after US President Donald Trump slapped a 32 per cent tariff on Taiwanese exports, which was later lowered to twenty per cent, as a part of his sweep of measures in opposition to dozens of commerce companions.
A significant semiconductor producer, Taiwan has repeatedly stated its supply to the US has included assist in replicating the island’s success in constructing tech clusters round devoted science parks.
The Trump administration is nearing a commerce take care of Taiwan to scale back its tariff fee to fifteen per cent and needs chipmaker TSMC to decide to constructing not less than 5 extra amenities in Arizona, the New York Occasions reported on Monday.
Taiwan’s commerce surplus with america was the seventh highest of any nation in 2024, reaching US$73.9 billion.
Responding to the report, Taiwan’s Workplace of Commerce Negotiations stated its aim has at all times been to get a discount within the tariff fee.
“Taiwan and america have reached broad consensus on the related points,” it stated, with out giving particulars. “The 2 sides are at the moment discussing the timetable for holding a concluding assembly.”
Taiwan’s commerce officers additionally vowed to offer “a whole clarification of the negotiations and the settlement” to the opposition-controlled parliament and the general public.
A supply accustomed to the talks, chatting with Reuters on situation of anonymity given the sensitivity of the matter, stated an settlement may very well be unveiled earlier than the top of January.
“It is now only a matter of getting all the ultimate particulars so as,” the supply added whereas declining to offer additional particulars.
The Workplace of america Commerce Consultant didn’t instantly reply to a request for remark exterior of regular enterprise hours in Washington.
TSMC declined to touch upon whether or not it might make investments extra within the US on high of the US$165 billion that it has already pledged.
Taiwan’s chips are usually not topic to the US tariffs.
