Taiwan meets with US for tariff talks in South Korea
TAIPEI (Reuters) -The main Taiwan and U.S. trade representatives met in South Korea for trade negotiations, yielding optimism that further talks would lead to reduced U.S. tariffs on Taiwan exports, the island's Vice-Premier Cheng Li-chiun said on Friday.
At a news conference marking Premier Cho Jung-tai's first year in office, Cheng said chief Taiwan negotiator Jenni Yang reported "good bilateral talks" in which both sides shared expectations of future Taiwan-U.S. economic cooperation and continued talks ahead.
The Taiwan government confirmed in a statement that Yang met with U.S. Trade Representative Jamieson Greer at the Asia-Pacific Economic Cooperation's trade meeting on Jeju Island.
"Taiwan is confident it can reach trade balance by increasing purchases from the U.S.," Cheng said, adding that the U.S. is now the top overseas investment destination for Taiwan.
Taiwan was facing U.S. import tariffs of 32% on its products under U.S. President Donald Trump's new tariff policies, before Trump paused the plan last month for 90 days.
Taiwan has since begun tariff talks with Washington, promising to purchase more U.S. goods and invest more in America to achieve more balanced trade.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Los Angeles Times
19 minutes ago
- Los Angeles Times
What will happen to food assistance under Trump's tax cut plan? A look at the numbers
President Trump's plan to cut taxes by trillions of dollars could also trim billions in spending from social safety net programs, including food assistance for lower-income people. The proposed changes to the Supplemental Nutrition Assistance Program would make states pick up more of the costs, require several million more recipients to work or lose their benefits, and potentially reduce the amount of food aid people receive in the future. The legislation, which narrowly passed the U.S. House, could undergo further changes in the Senate, where it's currently being debated. Trump wants lawmakers to send the 'One Big Beautiful Bill Act' to his desk by July 4, when the nation marks the 249th anniversary of the Declaration of Independence. Here's a look at the food assistance program, by the numbers: The federal aid program formerly known as food stamps was renamed the Supplemental Nutrition Assistance Program, or SNAP, on Oct. 1, 2008. The program provides monthly payments for food purchases to low-income residents generally earning less than $1,632 monthly for individuals, or $3,380 monthly for a household of four. The nation's first experiment with food stamps began in 1939. But the modern version of the program dates to 1979, when a change in federal law eliminated a requirement that participants purchase food stamps. There currently is no cost to people participating in the program. A little over 42 million people nationwide received SNAP benefits in February, the latest month for which figures are available. That's roughly one out of every eight people in the country. Participation is down from a peak average of 47.6 million people during the 2013 federal fiscal year. Often, more than one person in a household is eligible for food aid. As of February, nearly 22.5 million households were enrolled in SNAP, receiving an average monthly household benefit of $353. The money can be spent on most groceries, but the Trump administration recently approved requests by six states — Arkansas, Idaho, Indiana, Iowa, Nebraska and Utah — to exclude certain items, such as soda or candy. Legislation passed by the House is projected to cut about $295 billion in federal spending from SNAP over the next 10 years, according to the Congressional Budget Office. A little more than half of those federal savings would come from shifting costs to states, which administer SNAP. Nearly one-third of those savings would come from expanding a work requirement for some SNAP participants, which the CBO assumes would force some people off the rolls. Additional money would be saved by eliminating SNAP benefits for between 120,000 and 250,000 immigrants legally in the U.S. who are not citizens or lawful permanent residents. Another provision in the legislation would cap the annual inflationary growth in food benefits. As a result, the CBO estimates that the average monthly food benefit would be about $15 lower than it otherwise would have been by 2034. To receive SNAP benefits, current law says adults ages 18 through 54 who are physically and mentally able and don't have dependents need to work, volunteer or participate in training programs for at least 80 hours a month. Those who don't do so are limited to just three months of benefits in a three-year period. The legislation that passed the House would expand work requirements to those ages 55 through 64. It also would extend work requirements to some parents without children younger than age 7. And it would limit the ability of states to waive work requirements in areas that lack sufficient jobs. The combined effect of those changes is projected by the CBO to reduce SNAP participation by a monthly average of 3.2 million people. The federal government currently splits the administrative costs of SNAP with states but covers the full cost of food benefits. Under the legislation, states would have to cover three-fourths of the administrative costs. States also would have to pay a portion of the food benefits starting with the 2028 fiscal year. All states would be required to pay at least 5% of the food aid benefits, and could pay more depending on how often they make mistakes with people's payments. States that had payment error rates between 6-8% in the most recent federal fiscal year for which data is available would have to cover 15% of the food costs. States with error rates between 8-10% would have to cover 20% of the food benefits, and those with error rates greater than 10% would have to cover 25% of the food costs. Many states could get hit with higher costs. The national error rate stood at 11.7% in the 2023 fiscal year, and just three states — Idaho, South Dakota and Vermont — had error rates below 5%. But the 2023 figures are unlikely to serve as the base year, so the exact costs to states remains unclear. As a result of the cost shift, the CBO assumes that some states would reduce or eliminate benefits for people. The House resolution containing the SNAP changes and tax cuts passed last month by a margin of just one vote — 215-214. A vote also could be close in the Senate, where Republicans hold 53 of the 100 seats. Democrats did not support the bill in the House and are unlikely to do so in the Senate. Some Republican senators have expressed reservations about proposed cuts to food assistance and Medicaid and the potential impact of the bill on the federal deficit. GOP Senate leaders may have to make some changes to the bill to ensure enough support to pass it. Lieb writes for the Associated Press.
USA Today
an hour ago
- USA Today
We knew everything,' Trump tells Reuters about Israel's strikes on Iran
We knew everything,' Trump tells Reuters about Israel's strikes on Iran WASHINGTON, June 13 (Reuters) - After months of urging Israel not to strike Iran while he worked toward a nuclear deal, President Donald Trump told Reuters in a phone interview on Friday that he and his team had known the attacks were coming - and still saw room for an accord. "We knew everything, and I tried to save Iran humiliation and death. I tried to save them very hard because I would have loved to have seen a deal worked out," Trump said. "They can still work out a deal, however, it's not too late," he added. Trump had repeatedly pushed Israeli Prime Minister Benjamin Netanyahu to delay an Israeli attack to give diplomacy more time, though the president himself had threatened to bomb the Gulf nation if nuclear talks failed. Trump's shifting stance around the Israeli strikes, which he called "excellent" and "very successful" in a series of media interviews on Friday, offered one of the most striking examples yet of how he conducts high-stakes negotiations through both frank public rhetoric and behind-the-scenes maneuvers. The U.S. president offered support for Israel's decision to launch a series of devastating raids in Iran, showing a willingness to embrace the use of military force to set back Tehran's nuclear program. In contrast, some allies stressed the need for restraint. Asked if the U.S. would support Israel against Iranian counterattacks, Trump said he supported Israel. He said he was not concerned about a regional war breaking out as a result of Israel's strikes but did not elaborate. 'We've been very close to Israel. We're their number one ally by far," Trump told Reuters, adding, "We'll see what happens." Later on Friday, two U.S. officials said the U.S. military had helped shoot down Iranian missiles headed toward Israel. Talks in Doubt Still uncertain is whether Trump's attempt to reach an agreement with Iran to halt uranium enrichment is still viable, with a sixth round of talks still scheduled for Sunday in Oman but now in doubt after the attacks. In negotiations with Iran, Trump sought to persuade the Iranians to give up uranium enrichment and was awaiting a counter-proposal from Iran. Tehran had balked at giving up enrichment, seemingly leaving little room for an agreement. "They seek enrichment. We can't have enrichment," Trump told reporters on Monday. As the week wore on, Trump sounded increasingly resigned to the prospect that Israel would strike and hinted that he knew more than he was willing to talk about publicly. "I don't want to say it's imminent, but it looks like something that could very well happen. Look, it's very simple, not complicated. Iran cannot have a nuclear weapon. Other than that, I want them to be successful," he told reporters on Thursday before the raids began. Speaking to Reuters on Friday, Trump said he had given the Iranians 60 days to come to an agreement and that the time had expired with no deal. "We knew just about everything," he said. "We knew enough that we gave Iran 60 days to make a deal and today is 61, right? So, you know, we knew everything.' Trump said it was unclear if Iran still has a nuclear program following Israeli strikes on the country. "Nobody knows. It was a very devastating hit," Trump said. Israel said it had targeted Iran's nuclear facilities, ballistic missile factories and military commanders at the start of what it warned would be a prolonged operation to prevent Tehran from building an atomic weapon. Trump said the U.S. still has nuclear talks planned with Iran on Sunday but he was unsure they would take place. U.S. special envoy Steve Witkoff was scheduled to meet an Iranian delegation in Oman. "They're not dead," Trump said of the U.S.-Iran talks. "We have a meeting with them on Sunday. Now, I'm not sure if that meeting will take place, but we have a meeting with them on Sunday." The president had convened his top national security advisers at Camp David on Sunday night for what he said were discussions that included Iran, and he spoke to Netanyahu on Monday about Iran. A White House official said Trump spoke with Netanyahu again on Friday. Trump also held talks about the attacks with his National Security Council in the White House Situation Room. No details of the discussions were immediately available. (Reporting by Steve Holland; editing by Colleen Jenkins and Howard Goller)
The Hill
an hour ago
- The Hill
Iran calls US nuclear talks ‘meaningless' after Israel attack
Iranian officials on Saturday signaled they could walk back their decision to not attend upcoming nuclear talks with the U.S., but said further negotiations were likely 'meaningless' as the nation exchanges fire with Israel. Esmaeil Baghaei, Iran's foreign ministry spokesperson, told reporters it is 'still unclear what decision we will make for Sunday,' according to Reuters. 'The other side [the U.S.] acted in a way that makes dialogue meaningless. You cannot claim to negotiate and at the same time divide work by allowing the Zionist regime (Israel) to target Iran's territory,' Baghaei added, per the news wire. The sixth round of talks between the U.S. and Iran is scheduled to talk place in Oman on Sunday. Following tit-for-tat strikes, including Israel's initial surprise attack on Thursday, Tehran announced it would pull out of the talks. 'Israel's unilateral attack on Iran is illegal, unjustifiable and a grave threat to regional stability,' Oman Foreign Minister Badr Albusaidi posted on the social platform X after the attacks. 'I condemn it and urge the global community to come together to reject Israeli aggression and support de-escalation and diplomacy with one voice,' he wrote. Iranian officials cast some blame on the Trump administration for Israel's attack, accusing the U.S. of allowing the strike to happen. Secretary of State Marco Rubio denied involvement in the initial attacks, but the U.S. has stepped up to help Israel intercept missiles from Tehran. President Trump told Reuters Friday that the U.S. 'knew everything' about Israel's 'Operation 'Rising Lion'' — targeting nuclear facilities and ballistic missile sites — before the strikes took place. He also in recent days said he warned Israeli Prime Minister Benjamin Netanyahu that launching an attack would complicate nuclear deal negotiations. 'We knew everything, and I tried to save Iran humiliation and death. I tried to save them very hard because I would have loved to have seen a deal worked out,' Trump told the outlet. 'They can still work out a deal, however, it's not too late,' he added. The U.S. leader has urged Iran to recommit to a deal that would require the nation to dismantle nuclear developments. 'There has already been great death and destruction, but there is still time to make this slaughter, with the next already planned attacks being even more brutal, come to an end,' Trump wrote early Friday on Truth Social. 'Iran must make a deal, before there is nothing left, and save what was once known as the Iranian Empire,' he continued. 'No more death, no more destruction, JUST DO IT, BEFORE IT IS TOO LATE.' The Israel Defense Forces (IDF) has already killed several high-ranking Iranian officials and nine engineers tied to nuclear programs. Iran responded to the initial strikes with a counteroffensive, while promising to enact further plans for retaliation, calling the initial strike a 'declaration of war.' 'With this crime, the Zionist regime has set itself up for a bitter and painful fate, and it will receive it,' Iranian Supreme Leader Ayatollah Ali Khamenei said in remarks released through state media.
