U.S. open to further tariff talks with Taiwan: President Lai

Taipei, Aug. 1 (CNA) The United States is open to further tariff talks with Taiwan, President Lai Ching-te (賴清德) said Friday, as the two sides have yet to finalize their trade deal.

At a press event at the Presidential Office in Taipei, Lai described the "20 percent" tariff rate announced earlier by the White House as a "stage achievement" by Taiwan's negotiation team, which has met with its American counterparts four times in Washington, in addition to multiple online meetings.

The previous duty on goods from Taiwan was 32 percent, as initially announced by former U.S. President Donald Trump on April 2 in his sweeping tariff package that affected over 100 trading partners. The new rate is set to take effect on Aug. 7.

However, "from the very beginning, 20 percent has never been Taiwan's goal in the negotiations," Lai said. "The team will continue its efforts in the talks, and the U.S. government has expressed its willingness to continue the discussions."

In 2024, Taiwan ranked sixth among countries with which the U.S. had the largest trade deficits, totaling US$73.92 billion -- followed by Japan (US$68.46 billion) and South Korea (US$66 billion).

Lai emphasized that the announced tariff rate remains "tentative" because the two sides have not held a conclusive meeting.

He said the negotiations have followed international norms throughout the process.

According to the executive orders issued Thursday (U.S. time), Taiwan was given the 18th highest tariff rate among 69 countries, on par with Sri Lanka, Vietnam and Bangladesh.

However, the rate was notably higher than the 15 percent levies imposed on Japan, South Korea and the European Union, and slightly higher than the 19 percent rate set for the Philippines.

Taiwan's two major opposition parties both criticized the outcome.

Opposition Kuomintang (KMT) Chairman Eric Chu (朱立倫) called the result a "major setback, while Taiwan People's Party (TPP) Chairman Huang Kuo-chang (黃國昌) accused the government of hiding the information from the public for propaganda purposes.

Huang said that the newly released figures "expose the lies overnight."

Asked to respond to the criticism, Lai said Taiwan has followed established procedures and cannot disclose details before a final conclusion is reached. He therefore declined to comment on a rumor that Taiwan pledged an investment of US$400 billion to the U.S.

He called on opposition parties to acknowledge the efforts of the negotiation team and pledged that the Cabinet would report to the Legislature by the law to seek parliamentary support.

Lai said the talks with the world's largest economy have focused on safeguarding Taiwan's interests, including food safety and the health of its citizens.

He added that Taiwan has approached the negotiations with sincerity and transparency, with the aim of not only mitigating America's trade deficit with Taiwan but also strengthening and diversifying bilateral commercial ties, particularly in national defense, science, and technology.

About 24.3 percent of Taiwan's exports went to the U.S., mainly consisting of semiconductors, information and communication technology products, and electronic components, Lai said.

Referring to an ongoing investigation launched by the Trump administration into semiconductor imports, Lai said the negotiations so far remain broad in scope and await a final resolution on specific items.

Since April, the Trump administration has been conducting a probe under Section 232 of the Trade Expansion Act of 1962, citing national security concerns as the reason for a potential new tariff on chip imports.