The first phase of Taiwan’s tariff negotiations with the United States has gone “smoothly,” and the government hopes to use this moment as an opportunity to advance a new trade scheme between Taiwan and the US, President Lai Ching-te said on Monday.<\/p>\n\n\n\n
Taiwan, a major semiconductor manufacturer, was supposed to implement a 32% tariff under the initiative of US President Donald Trump, but these tariffs were suspended to conduct negotiations.<\/p>\n\n\n\n
On Friday, Taiwan and the United States held their first direct tariff talks.<\/p>\n\n\n\n
Speaking before university alumni associations at the presidential office in Taipei, Lai noted that Taiwan continues to face numerous challenges and must work on turning crises into opportunities for the transformation of the island’s economy.<\/p>\n\n\n\n
\u201cTaiwan has started negotiations with the United States, and the first stage of negotiations went smoothly,\u201d his press office quoted him as saying.<\/p>\n\n\n\n
Lai added that he hopes to use this challenge as an opportunity for Taiwan to promote a new “Taiwan Plus One” model, which means expanded cooperation with the US.<\/p>\n\n\n\n
The president also promised to work on achieving zero tariffs with the United States, as well as investing more in the country’s economy and increasing purchases in Taiwan.<\/p>\n\n\n\n
Taiwanese company TSMC, the world’s largest contract semiconductor manufacturer, recently announced additional investments in the United States totaling $100 billion.<\/p>\n\n\n\n
READ MORE:<\/strong> Places the US government is warning not to travel to right now.<\/p>\n\n\n\n Taiwan has long sought to secure a broad bilateral trade deal with the United States and wants to achieve similar agreements with other US allies, especially given the government’s intention to reduce dependence on China, which claims the democratically governed island as its own territory.<\/p>\n\n\n\n Lai noted that Taiwan is already signing trade and investment protection agreements with countries like the UK and Canada, and it also intends to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).<\/p>\n\n\n\n \u201cBy solving trade barriers at a multilateral level, we can allow Taiwanese products to be sold around the world,\u201d the president added.<\/p>\n\n\n\n <\/p>\n","protected":false},"featured_media":4654,"template":"","class_list":["post-4656","news","type-news","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"\n