A preliminary date has been set for the next round of trade negotiations with the US regarding US President Donald Trump’s reciprocal tariffs, Deputy Trade Representative Yen Huai-shing (顏慧欣) said today.
Updated US tariff rates are set to take effect worldwide on Aug. 1, following an executive order issued to extend the 90-day cool-off period, originally set to end on Wednesday last week.
On Monday last week, Trump sent letters to Japan and South Korea — important East Asian trading partners — saying that a 25 percent tariff would be imposed on imported goods.
Photo: George Tsorng, Taipei Times
As of today, no announcement has been made regarding Taiwan’s tariff rate.
Taiwan was not among the two dozen countries that received a letter from the Trump administration last week.
The Legislative Yuan’s Foreign Affairs and National Defense Committee today invited relevant agencies to report on the progress of tariff negotiations and response measures.
There have already been three rounds of in-person Taiwan-US tariff negotiations and multiple online meetings.
Both sides recognize that progress has been made thus far, although countries around the world are also awaiting a time slot for trade talks, Yen told lawmakers.
They aim to reach a consensus by Aug. 1, she said, adding that the letters do not mean that tariff rates have been finalized.
According to international precedent, both sides must reach a consensus, and would usually sign a draft agreement before publicly announcing any details, she added.
Saying that Japan revealed its bottom-line position to the US during negotiations, Chinese Nationalist Party (KMT) Legislator Hsu Chiao-hsin (徐巧芯) asked about Taiwan’s “bottom line.”
The lawmaker also asked whether negotiations would include labeling related to ractopamine — a controversial beta-agonist used to promote leanness in livestock — a zero-tariff policy or importing genetically modified foods.
Every country is obligated to uphold confidentiality in their tariff talks with the US, Yen said.
Taiwan’s bottom line is safeguarding national interests, domestic industries, food security and public health, she added.
Hsu has raised issues that concern US interests, which are indeed part of negotiations, but the final consensus cannot be disclosed at this stage, she said.
Negotiations remain ongoing, and there is a certain “give and take” element to discussions, although they remain in good faith, Deputy Minister of Foreign Affairs Chen Ming-chi (陳明祺) said.
Meanwhile, a Politico report released yesterday said that although Taiwan did not receive a letter last week, “it’s the countries that didn’t receive letters that may be closer to reaching real agreements.”
“The letters are pretty aggressive and direct,” said Mark Linscott, a former negotiator for the US Trade Representative’s Office.
A White House official, granted anonymity to share the administration’s plans, confirmed that no more tariff letters to countries were in the works as of yesterday, although they added that it is a “fluid situation,” the report said.
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