The government is optimistic about ongoing negotiations with the US regarding tariffs, which are focused on protecting national and industrial interests, public health and food safety, the Executive Yuan said yesterday.
US President Donald Trump has been announcing updated tariffs rates scheduled to take effect on Aug. 1, including 25 percent tariffs for Japan and South Korea, as well as 20 percent for Vietnam and the Philippines.
Trump on Thursday said that he expects to impose 15 to 20 percent tariffs on most remaining trade partners, NBC News reported.
Photo courtesy of the Executive Yuan
The previous tariff rate Washington announced on April 2 for Taiwan — before being suspended for 90 days — was 32 percent.
Trump has reportedly dismissed concerns that tariffs would affect stock markets and worsen inflation.
A Taiwanese delegation is continuing talks with the US regarding tariffs and the government would announce results when there is more information available, the Executive Yuan said.
Although an official notification about new tariffs has not been received, the government remains optimistic about the ongoing negotiations, Cabinet spokeswoman Michelle Lee (李慧芝) told a news conference on Thursday.
Vice Premier Cheng Li-chiun (鄭麗君) met with the US negotiating team in Washington on Tuesday, during which the two sides built a consensus and discussed the future of the talks, agreeing to move forward, Lee said.
Cheng is arranging the next round of talks, she added.
The negotiations have yet to finish because there are many issues to discuss, but compared with other countries, Taiwan’s negotiations are stable and progressing steadily, a source said on Thursday.
Cheng’s delegation is expected to return to Taiwan early today, a source said yesterday.
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