US, Taiwan Clinch Deal to Cut Tariffs, Boost Chip Investment (4)

The US and Taiwan agreed to a long-sought trade pact that would lower tariffs on goods from the self-governed island to 15% and see Taiwanese semiconductor companies increase financing for American operations by $500 billion.

Under the terms announced Thursday, duties on Taiwanese shipments would fall from the previous 20% rate — putting them on par with Japan and South Korea, which struck their own deals last year. The new rate wouldn’t stack on top of existing most-favored-nation duties, according to a statement from the cabinet in Taipei.

Jamieson Greer, second left, and Howard Lutnick, third left, with Taiwan’s Vice Premier Cheng Li-Chiun, third right, and Taiwan’s trade representative Yang Jen-ni, seocnd right.

Source: Taiwan’s Cabinet

Taiwan’s technology industry would commit to making at least $250 billion ...