Taiwan and US seal deal to lower tariffs, boost chip investment

Washington seeks improved access to strategic chip industry of island nation, over which China claims sovereignty.

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Taiwan and the United States have struck a trade deal that will see the island nation boost tech and energy investments in the US in exchange for lower tariffs.

In a statement announcing the deal late on Thursday, the US Commerce Department said Taiwan’s semiconductor and technology businesses will invest at least $250bn in the US. In exchange, it said Washington will reduce its general tariff on imports of Taiwanese goods from 20 percent to 15 percent.

Taiwan and US seal deal to lower tariffs, boost chip investment

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