TAIPEI, Feb 13 — Taiwan and the United States (US) have signed a trade agreement aimed at lowering tariff barriers and expanding high-tech partnerships after months of negotiations, reported the German Press Agency (dpa).
"This is a new chapter for Taiwan's foreign trade," Taiwan's President Lai Ching-te said today, adding that the deal would deepen economic and technological cooperation with the US, the self-ruled island's key ally.
The agreement comes ahead of US President Donald Trump's planned visit to China in April and is designed to help Washington address trade imbalances, secure supply chains outside China, and strengthen economic ties with a key Indo-Pacific partner.
The agreement still requires approval from Taiwan's Parliament.
Under the deal, US tariffs on Taiwanese goods will be capped at 15 per cent, while the US will gain preferential access to export industrial and agricultural products, such as cars and beef, to Taiwan. The island, which relies on energy imports, will also purchase US$44.4 billion (RM173.4 billion) worth of liquefied natural gas and crude oil from the US.
"This Agreement also builds on our longstanding economic and trade relationship with Taiwan and will significantly enhance the resilience of our supply chains, particularly in high-technology sectors," said US Ambassador Jamieson Greer during the signing ceremony yesterday.
In Taipei, Lai said Taiwan would establish a "Taiwan model" for tech cooperation in the US, integrating its semiconductor and information and communications technology industries with the US artificial intelligence sector.
According to the Office of the United States Trade Representative, Taiwanese semiconductors and related products will receive preferential treatment under the agreement.
