The U.S. Commerce Department has announced an agreement with Taiwan to enhance market access for U.S. companies in key sectors including semiconductors, AI, defense technology, telecommunications, and biotechnology.
Under the deal, reciprocal tariffs on Taiwanese goods will be capped at 15%, and Section 232 duties on auto parts, timber, lumber, and wood derivatives from Taiwan will also be limited to 15%.
Certain products, such as generic pharmaceuticals, aircraft components, and unavailable natural resources, will have a 0% reciprocal tariff. Additionally, the agreement offers incentives for Taiwanese semiconductor companies investing in the U.S.