"Under the deal, Taiwan will eliminate or reduce 99 percent of tariff barriers and provide preferential market access to numerous US goods, including auto parts, chemicals, machinery, health products, dairy products and pork, the office of the US trade envoy said in a statement. The US will, in turn, exempt a large range of Taiwanese goods from tariffs, including chalk, castor oil, pineapples and ginseng."
"Taiwanese President William Lai Ching-te said Taipei had secured tariff exemptions for some 2,000 Taiwanese products, hailing the agreement as a pivotal moment for the self-governing island's economy. Lai said the deal, when various carve-outs are included, would take the average tariff rate on Taiwanese goods to 12.3 percent. From familiar items such as Phalaenopsis orchids, tea, bubble tea ingredients (tapioca starch), and coffee,"
The United States and Taiwan agreed to reduce Taiwan's general tariff on exports from 20 percent to 15 percent, aligning with South Korea and Japan. Taiwan committed to purchase about $85 billion of US energy, aircraft and equipment. Taiwan will eliminate or reduce 99 percent of tariff barriers and grant preferential access for many US goods including auto parts, chemicals, machinery, health products, dairy and pork. The US will exempt a large range of Taiwanese goods from tariffs, covering items such as chalk, castor oil, pineapples and ginseng. Taipei secured exemptions for roughly 2,000 Taiwanese products, lowering the average tariff to 12.3 percent with carve-outs.
Read at www.aljazeera.com
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