The U.S. and Taiwan clinched a trade deal that cuts tariffs on many of the semiconductor powerhouse's exports, directs new investments in the U.S. technology industry and risks infuriating China.

Washington

The United States and Taiwan have finalized a trade agreement that lowers tariffs on a range of Taiwanese technology exports, including semiconductors and related equipment. The deal also reduces broad tariffs on most Taiwanese exports from 20 percent to 15 percent, with some items like pharmaceuticals and aircraft components facing zero tariffs. 

In return, Taiwanese companies will invest $250 billion in US sectors such as semiconductors, energy, and artificial intelligence, including a significant commitment from TSMC. The agreement also establishes a framework for two-way investment between the US and Taiwan and comes as the Trump administration seeks to strengthen ties with Taipei amid increasing pressure from China.

U.S., Taiwan strike deal on tech tariffs risking China's ire

The US and Taiwan clinched a trade deal on Thursday that cuts tariffs on many of the tech powerhouses' exports. Under the deal, Taiwanese shipmakers like TSMC, which are expanding US production, will be charged a lower tariff on semiconductors or related equipment that they ship to the country. They will also be allowed to import some duty-free. Broad tariffs that apply to most other Taiwanese exports to the US will fall from 20 percent to 15 percent. The US Commerce Department said generic pharmaceuticals, aircraft components, and quote, unavailable natural resources would face a zero percent tariff. Taiwan said the US also promised that it would be treated no worse than anyone else should ship tariffs be increased later. In exchange, Taiwanese companies will invest $250 billion in semiconductors, energy and artificial intelligence in the US. That includes $100 billion already committed by TSMC in 2025, with more to come, according to Commerce Secretary Howard Lutnick. The Trump administration said Taiwan would also guarantee an additional $250 billion in credit to facilitate further investment. At a press conference, Vice Premier Chang Lee-chun said Taiwan aimed to be a strategic AI partner for the US. In this round of negotiations, we also promoted two-way high-tech investment between Taiwan and the United States. We hope that in the future, both sides can become close strategic partners in AI. So aside from the previously mentioned Taiwan model for expanding investment in the US, the US side also committed through this investment MOU to establishing a mechanism for two-way investment to expand investment in Taiwan. The deal deepens the Trump administration's ties with Taipei. It comes at a critical time as China ratchets up pressure on the island, which it views as a renegade province, and while Washington works to avoid an all-out trade war with Beijing. Shares in TSMC rose three percent to record highs on Friday, further boosted by forecast smashing earnings the day before.

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London

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Breakdown