US lowers tariffs on Taiwan's goods to 15%

 The United States Department of Commerce announced on Thursday that the American Institute in Taiwan and the Taipei Economic and Cultural Representative Office in the US signed a trade deal today, lowering the tariffs on Taiwan's goods to 15%.

According to the agreement, Taiwanese chipmakers and other tech companies will invest at least $250 billion to advance US semiconductor and artificial intelligence production and innovation capacity. Additionally, Taiwan is also set to provide credit guarantees worth at least $250 billion for these investments.

In return, Washington agreed to lower both the reciprocal tariffs on Taiwanese imports and the tariff on Taiwanese auto parts, timber, lumber, and wood derivative products to 15%. The US also dropped its tariff on generic pharmaceuticals, generic ingredients, aircraft components, and unavailable natural resources from Taiwan, and promised to reward Taiwanese chipmakers that invest in the United States.

https://breakingthenews.net/Article/US-lowers-tariffs-on-Taiwan's-goods-to-15/65490819