Taiwan and the US agree on reciprocal tariffs to boost trade

Taiwan and the US have reached a reciprocal tariff agreement, with a 15% non-cumulative tariff and most-favored-nation treatment for some Section 232 tariffs. This agreement significantly benefits Taiwanese industries, reducing tariffs on machine tools, auto parts, bicycles, and hand tools, making them more competitive against international rivals. Taiwan's small but experienced trade negotiation team, led by Zheng Li-chun, worked tirelessly, often adjusting to US time zones, to achieve these favorable terms.