The US is expected to announce that preferential tariff treatment for Taiwan’s non-semiconductor Section 232 goods would take effect retroactively from May 1, the Executive Yuan said yesterday.
The US government yesterday posted a notice on the Federal Register’s public inspection Web site previewing tariff concessions for Taiwan under a memorandum of understanding (MOU) on Taiwan-US investment after two months of negotiations, the Executive Yuan said.
The measures include capping tariffs on auto parts, logs, lumber and wood derivative products at no more than 15 percent, while exempting steel, aluminum and copper derivative products used in aircraft components from Section 232 tariffs, it said.
Photo: Bloomberg
The implementation of the non-semiconductor Section 232 tariff concessions outlined in the MOU would help improve the international competitiveness of Taiwan’s industries and further expand their presence in the US market, Vice Premier Cheng Li-chiun (鄭麗君) said.
The MOU signed on Jan. 15 stipulated three major preferential tariff arrangements: a 15 percent reciprocal tariff rate for Taiwan without stacking most-favored nation rates, preferential Section 232 treatment for semiconductors and related products, and preferential Section 232 treatment for non-semiconductor products, the Executive Yuan said.
After a US Supreme Court ruling in February, Washington has been using a Section 301 investigation to re-establish the legal basis for tariffs originally imposed under reciprocal tariff measures, it said.
The US has not imposed Section 232 tariffs on Taiwanese semiconductor exports and related derivative products, it said, adding that Taipei continued consultations with the US Department of Commerce in March and April seeking the early implementation of preferential treatment for non-semiconductor products already subject to Section 232 tariffs.
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