By Zoila Palma: The United States and Taiwan have reached a trade deal aimed at reducing tariffs and boosting investment in the U.S. semiconductor sector, officials announced Friday.
Under the agreement, Washington will lower tariffs on Taiwanese goods from 20 percent to 15 percent, while Taiwanese firms will invest at least $250 billion in U.S. production of advanced semiconductors and AI technology.
Taiwan will also provide $250 billion in credit guarantees to support these investments and expand the U.S. semiconductor supply chain, AFP reports.
Taiwanese officials emphasized that the island will remain the world’s leading producer of AI semiconductors despite the deal.
Economic Affairs Minister Kung Ming-hsin projected that production capacity for advanced chips will be split roughly 85-15 between Taiwan and the U.S. by 2030, ensuring Taiwan’s continued dominance.
The agreement comes amid concerns about potential disruptions from China, which claims sovereignty over Taiwan and has opposed the deal.
The pact will also cap tariffs on specific sectors, including auto parts, timber, lumber, wood products, and certain pharmaceuticals.
The post International News: U.S. and Taiwan strike deal to cut Tariffs, boost $250 Billion chip investment appeared first on Belize News and Opinion on www.breakingbelizenews.com.
By Zoila Palma: The United States and Taiwan have reached a trade deal aimed at reducing tariffs and boosting investment in the U.S. semiconductor sector, officials announced Friday. Under the agreement, Washington will lower tariffs on Taiwanese goods from 20 percent to 15 percent, while Taiwanese firms will invest at least $250 billion in U.S.
The post International News: U.S. and Taiwan strike deal to cut Tariffs, boost $250 Billion chip investment appeared first on Belize News and Opinion on www.breakingbelizenews.com.
