U.S. Reaches Deal Cutting Taiwan Tariffs

The Trump administration reached a trade deal with Taiwan on Thursday, with Taiwan agreeing to remove or reduce 99% of its tariff barriers and apply a 15% rate to most exports, the U.S. Trade Representative said. Taiwan pledged $250 billion in U.S. investments plus up to $250 billion in credit guarantees, and TSMC committed about $165 billion to bolster U.S. chip manufacturing and address a $127 billion trade imbalance.