US and Taiwan Finalize Trade Deal to Reduce Tariffs on Exports

The United States and Taiwan have signed a trade agreement that lowers tariffs on Taiwanese exports from 20% to 15%, aligning with rates from South Korea and Japan. In exchange, Taiwan will purchase approximately $85 billion in US goods, including energy and aircraft. The deal allows Taiwan to eliminate or reduce tariffs on 99% of US goods, while securing exemptions for around 2,000 Taiwanese products. This agreement is seen as a significant boost for Taiwan's economy, particularly in enhancing its market competitiveness.