Taiwan hails its ‘best’ trade deal with US, as China protests

Taiwan’s premier on Friday hailed a new trade deal with the United States as the “best tariff deal” enjoyed by countries with trade surpluses with Washington, as meanwhile a Chinese official in Beijing condemned the accord.

The agreement cuts U.S. tariffs on Taiwanese goods to 15% in exchange for $250 billion in new investments in the U.S. tech industry. It is comparable to deals with the European Union and Japan worked out after President Donald Trump proposed sweeping tariffs for many U.S. trading partners.

“For the time being, we obtained the best tariff deal enjoyed by the countries with trade surplus with the U.S.,” said Taiwan Premier Cho Jung-tai. “This also shows that the U.S. sees Taiwan as an important strategic partner.”

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