February 13, New Delhi: The United States signed a trade deal with Taiwan on Thursday, confirming a 15% tariff rate on imports from Taiwan while committing Taiwan to a schedule for eliminating or reducing tariffs on nearly all U.S. goods.
The document, released by the Office of the U.S. Trade Representative, also commits Taiwan to significantly increasing purchases of U.S. goods from 2025 through 2029.
Taiwan President Lai Ching-te described the agreement as an important opportunity to achieve a level playing field with major competitors. He stated, "Regarding Taiwan's exports to the United States, we have secured reciprocal tariffs and the 'Most Favored Nation' (MFN) treatment under Section 232. Taiwan's reciprocal tariffs will be reduced to 15 percent and will not be cumulative, allowing us to achieve a level playing field with major competitors such as Japan, South Korea, and the European Union."