Source: Reuters

TAIPEI — Taiwan’s government said on Friday that it hoped for a more favourable tariff rate from the United States after talks achieved “certain progress”, and it was now awaiting a “concluding” meeting.

Taiwan’s exports to the United States are currently subject to a 20% tariff.

Taiwan Deputy Trade Representative Yen Huai-shing said in a statement that talks with the United States continued to advance.

“Both sides acknowledge that the current negotiations have achieved certain progress, and we are now awaiting the U.S. side to schedule a concluding meeting,” Yen said.

“Given the impact of the current 20% temporary reciprocal tariffs on our industries, we hope to secure more favourable and reasonable reciprocal tariff rates and preferential treatment for Section 232 tariffs through this agreement,” she added.

Rates on semiconductors – a major Taiwanese export – and other key technology goods have not yet been set as they are the subject of a U.S. national security probe that is being conducted under Section 232 of the Trade Expansion Act of 1962.

The United States Trade Representative’s office did not immediately respond to a request for comment outside of office hours in Washington.

U.S. Commerce Secretary Howard Lutnick said on Thursday on CNBC that “we have a big deal coming with Taiwan”, but he did not give details.