Taiwan, U.S. near tariff deal of 15% as talks enter final stage

Taiwan says it has reached "broad consensus" with the U.S in tariff negotiations. Talks now focus on a timetable to cut tariffs to 15%.

Transcript

00:00Taiwan says it has reached a broad consensus with the United States in ongoing tariff talks,

00:06with both sides now discussing a timetable to finalize an agreement.

00:10Taiwan is seeking to cut tariffs on its exports to the U.S. to 15 percent from the current 20 percent,

00:17a goal it first set out late last year.

00:21Reuters reported that Taipei indicates a deal announcement could come by the end of January.

00:27While reports in the U.S. media said the Trump administration is nearing an agreement that would lower Taiwan's tariff rate,

00:35while also pressing chipmaker TSMC to commit to building at least five additional facilities in Arizona.

00:43Taiwan, a major global semiconductor hub, has said its offer to Washington includes cooperation

00:50on replicating its technology clusters around science parks.

00:54TSMC declined to comment on any further U.S. investment beyond the 165 billion U.S. dollars it has already pledged.

01:03As of now, Taiwan's chips are not subjected to any U.S. tariffs.