Taiwan-U.S. trade deal requires legislative approval: Cabinet

Taipei, Jan. 27 (CNA) The Executive Yuan on Tuesday noted that any Taiwan-U.S. reciprocal trade agreement is subject to approval by the Legislative Yuan, reaffirming Taiwan's position that legislative review is required for the deal to come into force.

The Office of Trade Negotiations (OTN) under the Cabinet told reporters that Taiwan's negotiating team made clear from the first round of in-person talks with the United States that the agreement would include a "reservation" clause under Taiwan's legal framework.

The remarks came amid media attention to developments in South Korea, after U.S. President Donald Trump said he would raise tariffs on certain Korean products, citing the failure of that country's national assembly to approve a trade deal reached last year.

Responding to media queries, the OTN stressed that Taiwan clearly communicated the requirement for legislative approval early in negotiations with Washington.

Taiwan and the U.S. reached multiple agreements at a wrap-up meeting on Jan. 15, including cutting tariffs on Taiwanese goods from 20 percent to 15 percent, without stacking them on top of existing most-favored-nation rates.

On the same day, Taiwan and the U.S. Department of Commerce signed an investment memorandum of understanding (MOU), the OTN said.

The Executive Yuan has said that after the Taiwan-U.S. reciprocal trade agreement is signed, it will submit the agreement along with the investment MOU to the Legislative Yuan, expressing hope that lawmakers will support the deals.