Taiwan Targets Relief from Temporary U.S. Tariffs Amid Tech Tensions
Taiwan's President Lai Ching-te labels the 20% U.S. tariff on imports from Taiwan as temporary and aims to negotiate more favorable terms. While Taiwanese tech exports face a U.S. national security probe, Taiwan hopes to reach a better agreement. Taiwan remains a crucial partner in the U.S.-China tech rivalry.
In a strategic move, Taiwan's President Lai Ching-te announced that the 20% U.S. tariff on imports from the island is temporary, sparking hopes for a more favorable negotiation outcome. The current tariff level, although lower than previously feared, has prompted Taiwan to engage in further discussions.
As a critical player in global technology, Taiwan's key exports, including semiconductors, are undergoing a U.S. national security probe under Section 232 of the Trade Expansion Act of 1962. These goods are anticipated to receive different tariff rates, aligning with efforts to maintain the U.S. competitive edge over China.
While awaiting the results of the ongoing probe, Taiwan's diplomats remain proactive. U.S. Commerce Secretary Howard Lutnick revealed that results will be announced soon, which may pave the way for more advanced negotiations. Despite trade tensions, Taiwan is seen as a major partner and opponent in the U.S.-China tech contest.
(With inputs from agencies.)
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