Taiwan Vice Premier Cheng Li-chiun traveled to the United States to finalize a key tariff agreement. The tariff agreement comes after months of discussions between Taiwanese officials and the US Commerce Department. Cheng’s visit focuses on resolving remaining issues before signing the deal.
Negotiations have centered on setting tariffs at 15% for Taiwanese goods entering the US. In return, Taiwanese companies would invest NT$7.89 trillion, roughly US$250 billion, in American projects. Officials hope to complete the agreement before Taiwan’s Lunar New Year holiday from February 14 to 22.
Cheng’s delegation emphasized four core principles during discussions. These include protecting national interest, supporting business growth, ensuring public health, and maintaining food safety standards. Officials said that these principles guide the ongoing negotiations.
Once finalized, both Taiwan and the US plan to hold news conferences to announce the results. The agreement could reshape trade flows and investment commitments between the two economies. Analysts believe this deal may set a precedent for future trade arrangements in the region.
Negotiations will continue even after signing, as Taiwan seeks tariff cuts or exemptions for over 1,000 additional products. This indicates that both sides are committed to long-term trade collaboration beyond the initial deal.
In parallel, Taiwan’s automotive sector met with Cabinet members to discuss potential impacts. Reports suggest Taiwan may consider eliminating all tariffs on vehicles imported from the US. Industry leaders said the move could boost car sales and encourage cross-border investment.
Experts note that the agreement would strengthen Taiwan’s economic ties with the US. It could also help Taiwanese companies gain more competitive access to American markets. The investment commitments are expected to create jobs and support technology development in both countries.
Political observers said the timing of the tariff agreement is significant. Signing before the Lunar New Year could signal Taiwan’s commitment to international trade stability. It may also demonstrate Taipei’s ability to negotiate high-stakes economic deals efficiently.
Looking ahead, officials said they will continue consultations to expand trade benefits. The tariff agreement may eventually cover additional sectors, supporting Taiwan’s broader economic growth. Observers expect both governments to monitor implementation closely to ensure compliance and mutual benefit.
The tariff agreement represents a major step in strengthening Taiwan-US economic relations. Its successful conclusion could enhance investor confidence and deepen bilateral trade ties.
