Taiwan and U.S. Seal Game-Changing Trade Deal
Taiwan's trade team visits the U.S. to finalize a major trade deal decreasing tariffs from 20% to 15%. Taiwan pledges $250 billion investment in U.S. high-tech sectors and grants $250 billion in credit for further ventures. This deal fortifies Taiwan-U.S. strategic cooperation.
Taiwan's trade delegation has traveled to the United States to finalize a pivotal trade and tariff agreement initially reached last month, as announced by the government on Tuesday.
The agreement specifies a reduction in tariffs on Taiwan's exports to the U.S. from 20% to 15%. In return, Taiwanese companies will invest $250 billion to enhance semiconductor, energy, and artificial intelligence production in the U.S. Additionally, Taiwan commits to $250 billion in credit to spur further investment.
Taiwan Vice Premier Cheng Li-chiun and chief trade negotiator Yang Jen-ni departed on Tuesday evening to finalize discussions on the 'Taiwan–U.S. Agreement on Reciprocal Trade'. This strategic move aims to reinforce Taiwan's significant technological alliance with the U.S., its primary international ally, despite the absence of formal diplomatic ties.
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