"In a statement announcing the deal late on Thursday, the US Commerce Department said Taiwan's semiconductor and technology businesses will invest at least $250bn in the US. In exchange, it said Washington will reduce its general tariff on imports of Taiwanese goods from 20 percent to 15 percent. The deal illustrates an ongoing push by the US to improve access to Taiwan's semiconductor industry."
"In addition to investing $250bn in building and expanding advanced semiconductor, energy, and artificial intelligence production and innovation capacity in the US, Taiwan will provide at least the same amount in credit guarantees for additional investment by its businesses in the US semiconductor supply chain. Taiwan stressed that it would remain the world's main semiconductor supplier. The island's chip industry has long been seen as a silicon shield protecting it from an invasion or blockade by China"
Taiwan and the United States agreed a trade deal requiring Taiwanese semiconductor and technology firms to invest at least $250bn in the United States while Washington lowers its general tariff on Taiwanese imports from 20 percent to 15 percent. Taiwan will also provide an equivalent amount in credit guarantees to support additional investment in the US semiconductor supply chain. The agreement aims to build and expand advanced semiconductor, energy, and artificial intelligence production and innovation capacity in the US, create high-paying jobs, boost economic resilience and national security, and maintain Taiwan's leading role in global semiconductor production amid Chinese sovereignty claims.
Read at www.aljazeera.com
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