Opposition parties vow strict review of Taiwan-U.S. trade deal

Taipei, Feb. 13 (CNA) Taiwan's opposition parties on Friday vowed to rigorously scrutinize the newly signed Taiwan-U.S. trade agreement, with the Kuomintang (KMT) expressing "grave concerns" about its potential negative impacts.

In a news release issued after the signing of the U.S.-Taiwan Agreement on Reciprocal Trade (ART) in Washington D.C., the KMT argued that the deal -- which legally requires the opposition-controlled Legislature's approval -- is not the "major breakthrough" touted by President Lai Ching-te (賴清德).

Under the ART, the United States reciprocal tariff rate on Taiwanese imports will be set at 15 percent, while Taiwanese semiconductors and related products will receive the most favorable treatment.

An additional 2,072 export items from Taiwan will also be exempt from reciprocal tariffs and instead be subject only to the Most‑Favored‑Nation (MFN) rate.

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President Lai called the signing a "critical moment" for Taiwan's economy, saying it would help local industries transform and usher in a new era of growth.

The KMT said that the party's legislative caucus will establish a supervisory group to ensure that the welfare of Taiwan's people and the interests of various sectors are well protected during the mandatory legislative review.

The KMT claimed that the agreement could jeopardize food safety both at home and on school campuses and also undermine labor rights, particularly for workers in the automotive, agricultural, livestock and medical sectors, due to increased market access for U.S. goods.

The smaller opposition Taiwan People's Party (TPP), meanwhile, said that although it has long supported deepening economic ties between Taiwan and the U.S., it is committed to safeguarding national interests and ensuring the arrangement remains mutually beneficial.

While promising a "rational review," the TPP criticized what it described as a lack of transparency during the negotiation process, saying the Cabinet did not brief the Legislature at any stage.