Latest news with #ChengLi-chiun
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First Post
23-07-2025
- Business
- First Post
Trump on Asia deal spree, Taiwan aims to seal trade pact in new round of talks as deadline nears
Negotiators from the island-nation reached the US on Wednesday for tariff talks, as the delegation hopes to clinch a deal with US counterparts. The fourth round of talks is being attended by Vice Premier Cheng Li-chiun and trade negotiator Yang Jen-ni read more As US President Donald Trump secured trade deals with two Asian countries back-to-back, Taiwan is hurrying to get in line and seal its own agreement with Washington as the August 1 deadline nears. Negotiators from the island-nation reached the US on Wednesday for tariff talks, as the delegation hopes to clinch a deal with US counterparts, a source has told Bloomberg. The fourth round of talks is being attended by Vice Premier Cheng Li-chiun and trade negotiator Yang Jen-ni. STORY CONTINUES BELOW THIS AD The source said that discussions between the two sides have been 'constructive' so far, adding that the final tariff rate will ultimately be decided by Trump. The Taiwanese delegation's visit comes as the country's neighbours successfully reached trade deals with the US as announced by the president. Japan and Philippines seal the deal Trump announced Tuesday a 'massive' trade deal with Japan. He said that under the deal, 'Japan will invest, at my direction, $550 Billion Dollars into the United States, which will receive 90 per cent of the Profits'. Japanese Prime Minister Shigeru Ishiba said that the autos levy had been cut to 15 per cent, sending Japanese car stocks soaring, with Toyota and Mitsubishi up around 14 percent each. The Nikkei rose 3.5 percent. Trump agreed Tuesday to reduce threatened tariffs on the Philippines, but only by one percentage point, after what he termed a successful meeting with his counterpart Ferdinand Marcos. The Japan agreement, along with another pact with the Philippines also announced on Tuesday, means Trump has now secured five agreements since his administration promised in April '90 deals in 90 days.' US-Taiwan trade Taiwan's increasing dependence on the US market has heightened its urgency to reduce tariffs. Last year, Taiwan recorded a trade surplus of around $65 billion with the US, driven by strong demand for tech products essential to the AI boom. In April, Trump imposed a 32 per cent tariff on Taiwanese goods before pausing it. This gave Taipei the time to hammer out a deal with the US. STORY CONTINUES BELOW THIS AD Taipei had also committed to increasing investment in the US and tightening export control loopholes on high-tech products, an area of concern for Washington as it seeks to limit China's technological advances amid fears that Beijing could gain a military advantage. With inputs from agencies
Saudi Gazette
13-07-2025
- Business
- Saudi Gazette
Taiwan–US tariff talks enter ‘crucial moment,' negotiator says
WASHINGTON — Taiwan and the United States are at a 'crucial moment' in negotiations over reciprocal tariffs, a top Taiwanese negotiator said on Sunday, as the August 1 deadline for US import duties approaches. 'We are now entering a crucial moment — like the final inning of a ball game,' said Cheng Li-chiun, a lead negotiator for Taipei, in a statement issued by the Cabinet and reported by local outlet Focus Taiwan. Cheng returned to Taiwan early Saturday following a third round of in-person negotiations with US officials. According to the statement, both sides reached consensus on 'several key topics,' though specifics have not yet been disclosed. A fourth round of talks is tentatively planned, with hopes of finalizing terms before the August deadline. President Donald Trump announced in April a 32% blanket tariff on most Taiwanese imports, as part of a sweeping set of trade actions targeting over 170 countries. Although the tariffs were initially paused for 90 days, that exemption is set to expire at the start of next month. Despite the looming tariffs, Taiwan's President Lai Ching-te has signaled that Taipei will not pursue retaliatory measures. Instead, the government plans to increase imports from the US and invest further in the American economy to reduce the bilateral trade imbalance. Cheng emphasized that Taiwan remains committed to protecting national and industrial interests while working to expand trade and strengthen relations with Washington. — Agencies
The Sun
16-05-2025
- Business
- The Sun
Taiwan meets with US for tariff talks in South Korea
TAIPEI: 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.
The Sun
16-05-2025
- Business
- The Sun
Taiwan, U.S. Hold Trade Talks, Eye Tariff Reduction
TAIPEI: 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.
Yahoo
16-05-2025
- Business
- Yahoo
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.
