Taiwan, Taipei: ‘Best tariff agreement with the US’

Taipei (Taiwan), 16 January (LaPresse/AP) – Taiwanese Prime Minister Cho Jung-tai welcomed the new trade agreement reached with the US, calling it ‘the best tariff agreement’ ever signed by countries with trade surpluses with Washington. ‘We have obtained the best tariff agreement enjoyed by countries with a trade surplus with the United States,’ Cho Jung-tai said, adding that ‘this also shows that the United States considers Taiwan an important strategic partner.’ ‘Our goal is to reduce reciprocal tariffs,’ he continued, ‘therefore, based on the results of the negotiations, Taiwan has successfully obtained 15% tariffs at no additional cost. These are the same tariffs imposed on Japan, Korea and the European Union.’ The agreement reached by the US and Taiwan provides for new investments of $250 billion by Taiwanese semiconductor and technology companies in the United States. In return, the Trump administration will reduce tariffs on Taiwanese products.