US-Taiwan negotiations over tariffs are ongoing and “building consensus” through document exchanges, aiming to finalize an agreement after the Asia-Pacific Economic Cooperation (APEC) meeting, Vice Premier Cheng Li-chiun (鄭麗君) said yesterday.
The Executive Yuan said in a press release last night that Cheng, accompanied by Vice Minister of Economic Affairs Ho Chin-tsang (何晉滄) and Deputy Minister of Labor Chen Ming-jen (陳明仁), met with General Chamber of Commerce chairman Paul Hsu (許舒博) and recipients of the Golden Merchant Awards from Taiwan and abroad.
Cheng said that Taiwan’s negotiation team has been consulting with the Office of the US Trade Representative and US Department of Commerce about trade balance and supply chain cooperation.
Photo courtesy of the Executive Yuan
The current stage of negotiations has focused on supply chain cooperation, seeking “reciprocal” tariff reductions that do not stack on top of existing most favored nation rates and preferential treatment for more than 232 tariff items, as well as striving for more favorable conditions for Taiwanese companies investing in the US, Cheng said.
The vice premier explained that the US and Taiwan met for their fifth round of in-person negotiations at the beginning of the month and held further video conferences.
The negotiations have made progress, and both sides are currently exchanging written documents to build consensus towards a formal agreement, she said.
The US and Taiwan would continue negotiations after the APEC meeting, which they are both participating in, and would have a final meeting to finalize an agreement once they reach a consensus, she added.
Cheng praised Golden Merchant Award-winning companies’ innovation and extraordinary performance across multiple fields, remarking on their digital and net-zero transitions, as well as fulfilling their corporate social responsibility.
The government would continue to strongly support businesses, working hand in hand with industries toward an innovative, prosperous, inclusive and sustainable future, Cheng said.
This future would be rooted in Taiwan with a global reach and include close collaborations with like-minded countries, she added.
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