Taiwan Pushes for Lower U.S. Tariffs Amid Trade Talks Progress

Taiwan is seeking more favorable tariff rates from the U.S. following progress in trade talks. Current exports face a 20% tariff. Discussions focus on securing preferential treatment under Section 232 tariffs, especially for key Taiwanese exports like semiconductors. The U.S. Commerce Secretary hinted at a forthcoming deal.

The Taiwanese government is actively pursuing a reduction in tariff rates imposed by the United States, following "certain progress" achieved in recent trade discussions. Officials are optimistic about a more favorable deal as they await a "concluding" meeting with U.S. representatives.

Deputy Trade Representative Yen Huai-shing expressed hope that Taiwan could secure advantageous reciprocal tariff rates and preferential treatment, specifically on Section 232 tariffs. These discussions are pivotal, given the current 20% tariff on Taiwanese exports, including key sectors like semiconductors and technology.

Although the United States Trade Representative's office has not commented, U.S. Commerce Secretary Howard Lutnick indicated a significant trade agreement with Taiwan is forthcoming, though specific details have yet to be disclosed.

(With inputs from agencies.)