Taiwan-US Tariff Talks Near Consensus with Tech Expansion on the Horizon

Taiwan and the U.S. have reached a 'broad consensus' on tariff talks, with hopes for a reduction in tariffs on Taiwanese exports. Discussions focus on Taiwan's offer to help build tech clusters and U.S. expectations for increased semiconductor manufacturing by TSMC. An agreement announcement is anticipated soon.

The United States and Taiwan are poised to potentially announce a breakthrough in tariff negotiations, aiming to lower tariffs on Taiwanese exports to the U.S. from 20% to 15%, according to officials in Taipei. The talks highlight Taiwan's strategic move to assist the U.S. in replicating its successful tech industry model.

Sources indicate that Taiwan, a significant player in the semiconductor industry, is offering to contribute its expertise in developing tech clusters. Meanwhile, U.S. authorities are urging Taiwan Semiconductor Manufacturing Co. (TSMC) to expand its operations, considering five additional facilities in Arizona.

An agreement may be unveiled by the end of January, insiders reveal, emphasizing the urgency to finalize details. While Taiwan's semiconductor products currently bypass U.S. tariffs, the broader negotiations are seen as a strategic economic partnership between the two nations.

(With inputs from agencies.)