Trump administration officials signed a final agreement on reciprocal trade that confirms a 15% customs tariff on U.S. imports from Taiwan while committing Taiwan to a timeline to eliminate or reduce tariffs on nearly all U.S. goods.
The document released by the office of the US Trade Representative also commits Taiwan to significantly increase purchases of American products from 2025 to 2029, including US$44.4 billion in liquefied natural gas and crude oil, US$15.2 billion in civil aircraft and engines, US$25.2 billion in power grid equipment and generators, marine and steel equipment.
The agreement adds technical language and specific details to a trade agreement initially reached in January that reduced tariffs on Taiwanese goods, including those from its powerhouse, from 20%, initially imposed by Trump, to 15%. This puts Taiwan on par with its closest Asian competitors in exports, .
The deal will immediately eliminate Taiwan’s tariffs of up to 26% on many agricultural imports, including beef, dairy, corn and other imports.
U.S. Trade Representative Jamieson Greer said in a statement that the agreement will increase export opportunities for U.S. farmers, ranchers, fishermen, workers and manufacturers.
“This agreement also builds on our long-standing economic and trade relationship with Taiwan and will significantly increase the resilience of our , particularly in high-technology sectors,” Greer added.
