US, Taiwan sign trade agreement to seal chip investment

Financial Times: Donald Trump last week announced that the US would slash tariffs on Taiwan to 15 per cent in exchange for a $250bn investment in the US chip industry, as Washington moves to secure semiconductor supply chains and boost investment in American manufacturing.

The move brings duties on Taiwanese products in line with those levied on Japan and South Korea, and comes with a US promise to waive tariffs on generic drugs, aerospace parts and natural resources unavailable in the US…