Taiwan has reached a new trade agreement with the United States that significantly lowers tariffs on its exports, a move welcomed by Taipei but criticized by Beijing.
Under the deal signed on Friday, U.S. tariffs on Taiwanese goods will be reduced to 15% in exchange for $250 bn in new Taiwanese investments in the U.S. technology sector. Taiwan’s Premier Cho Jung-tai described the agreement as the «best tariff deal» secured by countries running trade surpluses with Washington, noting that the rate matches those applied to Japan, South Korea, and the European Union.
U.S. tariffs on Taiwanese products were...