Trump plans to cut Taiwan tariffs to 15%

The US and Taiwan reached a trade agreement that would reduce tariffs on goods from Taiwan to 15%, down from the current 20% rate, according to a White House announcement scheduled for Thursday.

The agreement places Taiwan's tariff rate equal to those of Japan and South Korea, which secured similar deals last year. Under the terms, Taiwanese semiconductor companies would increase financing for American operations by $500 billion.

Taiwan's technology industry committed to making at least $250 billion in direct investments to expand advanced semiconductor, energy and artificial intelligence operations in the US, according to the press release statement.

The deal addresses what was described as a long-sought trade agreement between the two parties. The tariff reduction and investment commitments represent the primary components of the bilateral arrangement.

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