US reaches commerce settlement with Taiwan | EUROtoday

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The United States and Taiwan have reached a long-awaited commerce deal that can scale back customs tariffs on items from the self-governing island to fifteen% and permit Taiwanese semiconductor firms to extend funding for American operations by $500 billion.

Under the phrases of the deal, which the White House was poised to announce Thursday, tariffs on Taiwanese shipments will drop from the earlier price of 20%, bringing them into line with these of Japan and South Korea, which reached their very own agreements final yr.