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Taiwan 'working around the clock' to strike US tariff deal

Taiwan 'working around the clock' to strike US tariff deal

eNCA3 days ago
TAIPEI - Taiwan's trade negotiators were "working around the clock" to strike a tariff deal with the United States, two weeks before Washington's deadline.
Donald Trump has given his trade partners until August 1 to reach an agreement with the White House or be hit with his threatened levies.
The US president has so far only announced deals with Indonesia, Britain and Vietnam, alongside an agreement to temporarily lower tit-for-tat tolls with China.
Taiwan faces a 32 percent tax and possible duties on semiconductor chips, which are a key driver of the island's economy.
"Our negotiators are literally working around the clock to strive to reach an agreement on reciprocal tariffs," Taiwanese Vice President Hsiao Bi-khim told journalists in Taipei.
"We are certainly aiming to reach an arrangement by August 1."
Trump in April imposed a 10 percent tariff on almost all US trading partners, while announcing plans to eventually hike this level for dozens of countries.
But days before the steeper duties were due to take effect on July 9, he pushed the deadline back to August 1.
Hsiao said Friday that Taipei wanted a trade deal with Washington that "will benefit both sides".
"The United States is indeed a very important trade partner for Taiwan," Hsiao said.
Washington also "needs Taiwan in supporting resilient supply chains, in supporting manufacturing and some high-end technologies".
"We have really counted on each other in recent years in developing our technologies, our economies and growth and prosperity," Hsiao said.
Taiwan is a global powerhouse in chip manufacturing and Trump has previously accused the island of stealing the US semiconductor industry.
Around 60 percent of Taiwan's exports to the United States are information and communications technology, which includes chips.
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In 2020, Jonas referred to Trump as "a racist, homophobic, and narcissistic right-winger", which resurfaced following his appointment as Special Envoy to the US. This exclusion of the two officials coincided with escalating tensions between the US and South Africa, fuelled by the US disapproval of South Africa's legal proceedings against Israel at the International Court of Justice and the US freezing aid to South Africa. GOOD Party secretary-general Brett Herron emphasised the need for Ramaphosa to take the nation into his confidence and update citizens on the Washington strategy. "Ramaphosa must update the nation on Washington strategy. President Cyril Ramaphosa owes the nation an update on progress... with the nation's diplomatic relationship with the US," Herron said. Another GNU partner, the IFP, during a media briefing on Monday, also urged Ramaphosa to appoint an ambassador as a priority. IFP national spokesperson Mkhuleko Hlengwa said the party is expecting the president to appoint the ambassador as a matter of urgency, given the diplomatic fallout between the two countries. He further stated that urgency was also necessary because South Africa will hand over the G20 Presidency to the US. Department of International Relations and Cooperation (DIRCO) spokesperson, Chrispin Phiri, referred questions to the Presidency. However, Presidency spokesperson Vincent Magwenya did not respond to questions on what the status of appointing an ambassador was. Last week, the Presidency and the DA were engaged in a war of words after the DA revealed that despite being aware of the US rejection of Jonas's credentials, the Presidency continued to present him as the special envoy to North America. "The United States of America denied Mcebisi Jonas a diplomatic visa in May this year. The US government has formally rejected Jonas's credentials...," the DA initially stated. In response, the Presidency warns against treating DA disinformation on international relations as official government policy. "Special Envoys do not present credentials, and Mr Jonas's role, while supportive of DTIC (Department of Trade, Industry and Competition) and DIRCO in trade negotiations and diplomatic relations, does not supersede them. He has been assisting in developing trade proposals and resetting diplomatic ties. "President Ramaphosa has not urgently required Mr Jonas to visit the US due to ongoing processes and recent contact with President Trump. The Presidency is concerned about the DA's persistent campaign against South Africa's national interest, originating from their ideological visit to the US earlier this year. The DA is attempting to use a foreign state to change national policies and is exploiting critical engagements to protest President Ramaphosa's removal of Mr Andrew Whitfield,' Magwenya said. 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