U.S. Asks Taiwan to Cut Tariffs on 960 Products
The United States has asked Taiwan to make wide-ranging tariff concessions in order to cut its huge trade deficit with the island, Taiwan’s Finance Ministry said today.
Washington has asked for tariff cuts on 960 products, including petrochemicals, electronics, electric appliances, machinery, fruits and processed farm goods, said Wang Der-hwai, director of the ministry’s Customs Administration.
“This is the biggest list we have received from Washington in about a decade,” he said.
Taiwan’s huge trade surpluses have become the major source of tension in its relations with Washington.
The bilateral surplus rose to $11.17 billion in the first 11 months of 1989 from $9.44 billion a year earlier, according to Taiwan’s official figures.
The island had promised Washington that it would cut the surplus to $10 billion this year.
Representatives of the two sides are scheduled to meet in Taipei Jan. 8 and 9 for trade talks.
In the last three years Taiwan has made sweeping tariff cuts on thousands of items, but its trade surplus has continued to grow.
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