Taiwan-US trade pact lowers tariffs and aims to boost investments.

A reciprocal trade agreement signed by the United States and Taiwan reduces tariffs on Taiwanese goods from 20% to 15% and exempts generic pharmaceuticals, chips and smartphones; the U.S. Trade Representative said the pact removes trade barriers and will help strengthen high-technology supply chains.

The United States and Taiwan have signed a reciprocal trade agreement that lowers tariffs on goods from Taiwan and formalizes a deal first announced in January. The pact reduces the general tariff rate on Taiwanese goods from 20% to 15%. There are specific exemptions for generic pharmaceuticals, chips and smartphones, which U.S. officials had previously investigated for possible future levies. U.S. Trade Representative Jamieson Greer described the agreement as removing tariff and non-tariff barriers facing U.S. exports and said it would build on the economic relationship between the two sides and strengthen supply-chain resilience in high-technology sectors. Key details: - The agreement lowers the general tariff rate on goods from Taiwan from 20% to 15%. - Exemptions apply to generic pharmaceuticals, semiconductor chips and smartphones. - The signing formalizes an announcement that was made in January. - U.S. Trade Representative Jamieson Greer said the deal will eliminate tariff and non-tariff barriers for U.S. exports and expand opportunities for American producers, small businesses and workers. - The exemptions for certain high-tech items were previously under review for potential future levies by the U.S. administration. Summary: The pact is presented as a step to reduce trade barriers and to enhance resilience in high-technology supply chains. The report does not give detailed implementation timelines or expected trade outcomes. Undetermined at this time.