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The US and Taiwan have signed an agreement that will see a multi-billion dollar investment into domestic development of semiconductors and related infrastructure. The US Department of Commerce announced that Taiwanese businesses will make an upfront investment of at least s government will provide credit guarantees of at least another
In exchange, Taiwan will receive a better deal on tariffs. Reciprocal tariffs will be limited to 15 percent, compared with the previous 20 percent rate. Generic pharmaceuticals and their generic ingredients, aircraft components, and unavailable natural resources will be not be subjected to reciprocal tariffs under the arrangement. Taiwanese companies with US production will also see increased import amounts without being charged duties under the Section 232 framework.
Outsourcing IT services.billion trade deal
According to reports from CNBC, Taiwan Semiconductor Manufacturing Company (TSNC) is already in position to take advantage of the new trade agreement with further expansion in Arizona. The major Taiwanese chip manufacturer had previously committed to investing s semiconductor supply chain stateside, continuing to use tariffs as an incentive. "If they don’t build in America, the tariff’s likely to be 100 percent,” Lutnick said.
This article originally appeared on Engadget at https://www.engadget.com/computing/a-250-billion-trade-deal-will-see-taiwan-bring-more-semiconductor-production-to-the-us-224326501.html?src=rss
Original aticle here: Engadget
