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.