Taiwan Minister Says ‘Consensus’ Reached With US to Shield Chips From Tariffs

Taiwanese Economic Minister Kung Ming-hsin told reporters that Taiwan has not finalized any trade agreement with the United States yet.

A closeup of a silicon wafer on display at Taiwan Semiconductor Research Institution in Hsinchu, Taiwan, on Sept. 16, 2022. Annabelle Chih/Getty Images

Taiwanese National Science and Technology Council Minister Wu Cheng-wen said that Taiwan and the United States have reached a “consensus” to keep tariffs off Taipei’s semiconductor industry.

In a Financial Times interview published on Nov. 22, Wu said that Taiwan will support the United States in building its chip industry, and in return, the United States will offer tariff relief for the island’s semiconductor sector.