TAIPEI (TVBS News) — Taiwan and the United States reached significant consensus on tariffs and non-tariff trade barriers Thursday (July 31) as the deadline for reciprocal tariffs looms Friday (Aug. 1). Executive Yuan (行政院) spokesperson Michelle Lee (李慧芝) announced that both nations also discussed investment and procurement issues, marking a pivotal breakthrough in bilateral economic cooperation between the democratic allies.
Taiwan's Premier Cho Jung-tai (卓榮泰) emphasized during a cabinet meeting that the high-stakes negotiations have reached a critical juncture. The government insists on safeguarding national interests, industrial interests, and public health and food safety while pursuing closer partnership with Washington. Cho revealed that Taiwan's cabinet will propose amendments to the special tariff act after final negotiation results are confirmed, based on domestic and international economic conditions.
Lee commended the Taiwan-U.S. economic and trade working group's progress during a post-meeting press conference, praising both negotiating teams for completing technical consultations and joint statement discussions under intense time pressure. The final outcome awaits the U.S. government's decision-making process, during which Taiwanese officials will keep the public informed of developments. Lee declined to disclose whether Economic and Trade Negotiation Representative Yang Jen-ni (楊珍妮) has returned to Taiwan from the crucial talks. ◼