Taiwan says it hopes for more favourable US tariff rate, awaits ‘concluding’ meeting

[TAIPEI] Taiwan’s government said on Friday that it hoped for a more favourable tariff rate from the United States after talks achieved “certain progress”, and it was now awaiting a “concluding” meeting.

Taiwan’s exports to the United States are currently subject to a 20 per cent tariff.

Taiwan Deputy Trade Representative Yen Huai-shing said in a statement that talks with the United States continued to advance.

“Both sides acknowledge that the current negotiations have achieved certain progress, and we are now awaiting the US side to schedule a concluding meeting,” Yen said.

“Given the impact of the current 20 per cent temporary reciprocal tariffs on our industries, we hope to secure more favourable and reasonable reciprocal tariff rates and preferential treatment for Section 232 tariffs through this agreement,” she added.

Rates on semiconductors - a major Taiwanese export - and other key technology goods have not yet been set as they are the subject of a US national security probe that is being conducted under Section 232 of the Trade Expansion Act of 1962.

SEE ALSO

Asian exporters absorbing about 20% of US tariffs, passing on remaining costs: Nomura

Trump to impose tariffs on semiconductor imports from firms not moving production to US

DECODING ASIA

Navigate Asia in
a new global order

Get the insights delivered to your inbox.

The United States Trade Representative’s office did not immediately respond to a request for comment outside of office hours in Washington.

US Commerce Secretary Howard Lutnick said on Thursday on CNBC that “we have a big deal coming with Taiwan”, but he did not give details. REUTERS