31.10.202506:37:04UTC+00Taiwan, U.S. Move Closer to Trade Deal

Taiwan has announced that technical consultations in its reciprocal trade negotiations with the United States are "largely finalized." Document exchanges have commenced, marking significant progress in the long-standing discussions. This update was delivered by Taiwan's delegation at the APEC summit in South Korea after a meeting between Taiwan's chief trade negotiator, Jenni Yang, and U.S. Deputy Trade Representative, Rick Switzer. The negotiations primarily aim to reduce the 20% U.S. tariff imposed on Taiwanese exports, with semiconductors—the mainstay of Taiwan's exports—remaining unaffected by these tariffs. According to the statement, "Both parties reviewed the progress and expressed mutual enthusiasm for enhanced collaboration to drive industrial growth and economic development." Although Taiwan has turned down the U.S. suggestion of a 50-50 split in semiconductor production, it is contemplating establishing a more extensive high-tech strategic partnership to bolster U.S.-Taiwan cooperation.