Taiwan-U.S. Trade Talks: Progress Amid APEC Summit

Taiwan-U.S. trade negotiations at the APEC summit in South Korea show progress with the finalization of technical consultations. Talks aim to reduce a 20% tariff on Taiwanese exports to the U.S. while exploring high-tech partnerships. Key discussions include semiconductors and strengthening bilateral economic ties.

Technical consultations for the Taiwan-U.S. trade talks have reached a crucial stage, with document exchanges currently progressing, according to Taiwan's delegation at the APEC summit in South Korea. Despite ongoing negotiations, no final agreement on reducing the 20% tariff on Taiwanese exports to the U.S. has been achieved yet. Notably, semiconductors remain excluded from the tariff list.

In a recent announcement, Taiwan's delegation at the APEC summit in Gyeongju highlighted a meeting between Taiwan's top trade negotiator Jenni Yang and U.S. Deputy Trade Representative Rick Switzer. Discussions aimed at enhancing economic and trade relations between Taiwan and the U.S. have been a focal point, according to the delegation. Additionally, document exchanges are paving the way for more fruitful collaborations.

Amid these talks, Taiwan has proposed forming a high-tech strategic partnership with the U.S., seeking increased investment. While Taiwan leads in semiconductor production, the nation has rejected a 50-50 chip-making proposal, fostering an environment for strategic discussions on mutually beneficial ventures.

(With inputs from agencies.)