US, Taiwan close to trade pact amid Donald Trump’s new tariff spree

A US official said trade talks with Taiwan are ongoing and near a deal, even as Trump announced new tariffs, including 20% on Taiwanese goods.

Trade talks between the United States and Taiwan are continuing, a U.S. official confirmed on Friday, adding that a final agreement is close.

In pic: Taiwan President Lai Ching-te. A US official said Taiwan’s proposal was well received, and both sides are close to finalising an agreement. (AP)

"The interim rate is lower than the original rate, and it's much lower than that of several other major trading partners with ongoing negotiations," said the official, who sought anonymity as the matter is a sensitive one.

Taiwan’s offer was well received and the two sides are close to a final agreement, the official added.