NYT: Taiwan Deal Near
The New York Times reported that Taiwan is close to reaching a tariff deal with the U.S., and its headline tariff rate will be reduced from 20% to 15%. Most Taiwanese exports are not facing any tariffs, because they were carved out of the International Emergency Economic Powers Act tariff actions.
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According to an analysis by the Hudson Institute, about 64% of Taiwanese exports to the U.S. are exempt from the current 20% IEEPA tariff because they are part of the semiconductor Section 232 investigation (which includes computers and consumer electronics).
However, Taiwan also supplies motor vehicle parts, electrical transformers and power supplies and small metal parts that are covered by Section 232 tariffs on autos or on steel.
The Times said the deal is being legally scrubbed and could be announced this month.