Key events
Tariff reprieve provides breathing room, time for negotiations, say Korea and Taiwan
There have been sighs of relief in Asia after Trump announced his 90-day tariff pause, with South Korea’s top trade envoy Cheong In-kyo saying on Thursday the pause had provided room for negotiations, as the country seeks to reduce tariffs through talks.
Cheong met US trade representative Jamieson Greer about lowering tariff rates slapped on the country and delivered concerns about US tariffs, the trade ministry.
Meanwhile in Taiwan, which was due to be hit with a 32% tariff, the foreign minister Lin Chia-lung said the government was dedicated to increasing its purchases from and investments in the United States and to reduce the island’s trade surplus with its most important international backer.
“Now that we have an additional 90 days, we can discuss Taiwan-U.S. economic and trade cooperation in a more detailed and in-depth manner,” he said.
Taiwan President Lai Ching-te on Sunday pledged to seek a zero tariff regime with the US, and said that Taipei would not retaliate in response to the tariffs.