měi guó美国yǔ与tái wān台湾qiān shǔ签署xīn新de的mào yì xié dìng贸易协定
The United States and Taiwan signed a new reciprocal trade agreement on February 12.
The United States reduced tariffs on products imported from Taiwan to 15%.
Taiwan will eliminate or reduce 99% of tariffs on American goods and plans to buy more American products in the long term.
After the agreement was signed, the United States stated that this would provide more opportunities for American farmers, workers, and businesses, and also stabilize supply chains in important industries such as high technology.
Taiwan said that the negotiations protected national and industrial interests and would bring more economic, trade, and technological cooperation.
According to the published details, Taiwan will make it easier for American cars, chemicals, seafood, machinery, health products, electronics, metals, and minerals to enter the Taiwanese market and will address restrictions on products like cars, medical equipment, and beef.
Taiwan will also ban the import of goods produced by forced labor and strengthen protections for fishing vessel workers.
After the agreement is signed, formal procedures must still be completed, and Taiwan will submit it to the Legislative Yuan for review.