00:00May you give us an overview of the latest progress on the U.S. Taiwan trade deal?
00:04So the two countries signed a memorandum of agreement and then an agreement on reciprocal trade earlier this year.
00:13There were no steps really to implement it thus far.
00:18Part of that was probably due to the occurrences of the Supreme Court,
00:24which sort of constrained the Trump administration and implementing their tariff policy.
00:30So this new publication from the United States Trade Representative and Department of Commerce is the first step towards implementation
00:39there.
00:40And it sort of addresses certain tariff regimes under Section 232 of the Trade Act of 1962,
00:47which applies to wood products and automobile parts as well.
00:56There's also sort of a third group for aircraft parts,
01:01but this implements sort of, I guess, a safe harbor for those products exported from Taiwan.
01:07So it's a partial implementation.
01:10In your opinion, why is the U.S. removing some of the tariffs now, given that the agreement was signed
01:15at the beginning of the year?
01:16Part of it is just the Trump administration has been busy on the trade front.
01:22There are perhaps limited bodies available to do all the work that they are attempting to do at this time.
01:30It just seems to be that essentially there's a lot going on.
01:34And this is a priority enough that it's one of the ones to get addressed in the first half of
01:40the year.
01:41We'll see what's to come next in terms of implementing the remainder of the agreement.
01:46How positive and sustainable is this progress for Taiwan, considering the ongoing controversy over Trump's tariffs legality?
01:54And how do you see the trade deal evolving moving forward?
01:58Once a country is covered by a Section 301 action, there's not like a bunch of extra carve-outs or
02:06that sort of thing that would limit it in a way that most importers are going to have a different
02:12experience under one versus the other.
02:15I think it's definitely a positive sign for the agreement and for the life of the agreement to have this
02:21step toward implementation taken.
02:24The people that negotiated this agreement are probably glad to see some real-world effect taking place.
02:33And as a week of cryptocurrencies...
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02:34Pelațiii
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