Taiwan-US tariff talks complete, pending US decision-making process

Taiwan and the US have completed talks on tariff technicalities and have reached consensus on issues including non-tariff trade barriers, with the result pending the US decision-making process, Taiwan's cabinet said on Thursday, Report informs via Reuters.

Goods sent from Taiwan to the US were targeted for tariffs of 32% by US President Donald Trump when he announced his so-called "reciprocal" tariffs in April, but he later declared a 90-day pause on the plan. Taiwan has been in tariff talks with Washington since the announcement.

"Investment and purchase issues have also been discussed," said a spokesperson, adding that both sides have discussed a joint statement.

A trade delegation led by Vice Premier Cheng Li-chun had gone through four rounds of negotiations with US officials, including US Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick, according to a statement issued by Taiwan's cabinet.

Taiwan has been seeking to strengthen its trade ties with major partners, particularly the US, Taiwan's second-largest trading partner after China, amid growing geopolitical and economic challenges.

The outcome of the discussions could play a key role in shaping the island’s future trade strategy and its position in the global supply chain, and is crucial to Taiwan's export-driven economy.