U.S., Taiwan Strike Major Trade Deal
US Trade Representative Jamieson Greer presided over the formal signing between the American Institute in Taiwan and the Taipei Economic and Cultural Representative Office in the US, an official statement confirmed.
Under the accord, Taiwan will grant American industrial and agricultural sectors "preferential market access" and "eliminate or reduce" 99% of duties on US merchandise, spanning mineral resources, beef products, and automotive imports.
Taipei has committed to purchasing over $84 billion worth of American goods from 2025 through 2029, targeting power generation equipment, commercial aircraft, liquefied natural gas, and crude petroleum.
The US Trade Representative's office noted Taiwan agreed to "resolve longstanding non-tariff barriers," including acceptance of American vehicles meeting Federal Motor Vehicle Safety Standards without additional requirements.
Greer stated the pact would dismantle tariff and non-tariff obstacles confronting US exporters to Taiwan, unlocking fresh opportunities for American agricultural producers, ranchers, fishermen, laborers, small enterprises, and manufacturers.
The deal strengthens decades-old economic partnerships and is anticipated to fortify supply chain stability, especially within advanced technology industries, he noted.
Greer attributed the breakthrough to US President Donald Trump's reinvigorated trade engagement across the Asia-Pacific, asserting the administration's strategy serves both economic prosperity and national security objectives.
Taiwanese leader Lai Ching-te celebrated the development on Facebook, declaring: "This is a pivotal moment for Taiwan's economy and industries to ride the winds of change and undergo a major transformation."
He emphasized the agreement will refine the Taiwan-US economic architecture, forge dependable industrial supply networks, and cement a Taiwan-US high-technology strategic alliance.
US authorities characterized the deal as evidence of mutual dedication to equitable trade practices and expanded economic collaboration between Washington and Taipei.
Initial disclosure came in January when Taiwanese semiconductor and technology firms promised at least $250 billion toward US manufacturing expansion, backed by matching government financing "to facilitate additional investment by Taiwanese enterprises."
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