US, Taiwan Agree on Deal to Lower Tariffs

US, Taiwan Agree on Deal to Lower Tariffs
The United States and Taiwan have finalized a trade deal, which lowers US tariffs on Taiwanese goods from 20 to 15 percent. Taiwan has also committed to eliminating or lowering tariffs on all US products. Additionally, Taiwan has pledged to purchase more than USD 44 billion worth of gas and crude oil from the US, as well as approximately USD 15 billion worth of US civil aircraft, and to invest in the US tech industry. The deal will now require approval from the Taiwanese parliament before it takes effect.

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