US says it reached deal with Taiwan to lower tariffs and boost investments

Key Highlights

• US will lower tariffs on Taiwanese goods to 15%.
• Taiwanese companies pledged $250 billion in investments in the US.
• The agreement focuses on boosting US semiconductor production.
• Carve-outs from tariffs are included for Taiwanese semiconductor investments.
• The deal aims to address supply chain vulnerabilities highlighted during the Covid-19 pandemic.