Taiwan’s delegation to the Asia-Pacific Economic Cooperation (APEC) summit in South Korea announced that technical consultations for trade negotiations with the United States have been “largely finalised.” Both sides are now exchanging documents, marking a significant step forward in long-running efforts to strengthen bilateral trade relations.
Why It Matters
The talks are part of Taiwan’s bid to reduce the 20% tariff imposed on its exports to the U.S. a key barrier to expanding trade. The progress comes as Taiwan seeks to deepen economic cooperation with Washington amid growing strategic competition with China.
Semiconductors, Taiwan’s most important export, remain excluded from the tariffs but are central to the broader negotiations.
Taiwan’s top trade negotiator, Jenni Yang, met with U.S. Deputy Trade Representative Rick Switzer during the APEC summit to discuss ways to boost economic ties. The talks also involved Taiwan’s Science Minister Wu Cheng-wen and senior U.S. officials Allison Hooker and Michael DeSombre, who reaffirmed the importance of maintaining stability across the Taiwan Strait.
What’s Next
While no final agreement has been reached, both sides expressed optimism for deeper collaboration in technology and trade. Taiwan is also weighing a proposal to form a high-tech strategic partnership with the U.S. as Washington pushes for increased Taiwanese investment in America’s semiconductor sector.
With information from Reuters.
