Taiwan, U.S. hold 1st in-person meeting on tariffs: Trade office

Taipei, May 3 (CNA) Taiwan and the United States concluded the first in-person meeting on tariffs Thursday, U.S. time, according to the Office of Trade Negotiations.

In a statement Saturday, the office said a Taiwanese delegation led by Vice Premier Cheng Li-chiun (鄭麗君) and top trade negotiator Yang Jen-ni (楊珍妮) held talks in Washington with U.S. officials on tariffs, non-tariff barriers and other bilateral trade issues.

The office, under the Executive Yuan, said the meeting was conducted in a harmonious and friendly manner, with both sides agreeing to strengthen economic cooperation to promote mutual benefits and create more business opportunities.

The meeting followed an initial round of talks held via videoconference on April 11.

U.S. President Donald Trump first announced sweeping "reciprocal" tariffs on April 2, including a 32 percent import duty on goods from Taiwan, targeting countries with large trade surpluses with Washington. A week later, he announced a 90-day pause to allow negotiations for a lower rate.

In the statement, Cheng said Taiwan and the U.S. have highly complementary economies, and that close cooperation between the two sides could strengthen their industries and enhance their global competitiveness.

Cheng said she believed that through thorough discussions, Taiwan and the U.S. could reach a consensus on trade issues.

President Lai Ching-te (賴清德) has said Taiwan has no intention of launching retaliatory measures in response to U.S. tariffs and instead aims to negotiate with the Trump administration toward a "zero tariff" arrangement, modeled on the United States-Mexico-Canada Agreement (USMCA).

Lai acknowledged the "significant impact" that the 32 percent tariff would have on Taiwan's economy, but urged the public not to panic, citing Taiwan's strong economic fundamentals.

Taiwan remains on the latest U.S. list of trading partners with non-tariff barriers, according to a report released by the Office of the United States Trade Representative (USTR) on March 31, two days before Trump announced the reciprocal tariffs.