The United States announced new trade agreements with Taiwan and North Macedonia aimed at lowering tariffs and expanding market access for U.S. agricultural and industrial goods. Under the deal with Taiwan, the island will eliminate or reduce tariffs on 99% of U.S. products, according to a fact sheet from the Office of the U.S. Trade Representative.
Tariffs will be scrapped on U.S. beef, lamb, seafood, dairy products, potatoes, vegetables, legumes, nuts and fruits.
The agreement also streamlines export procedures for U.S. beef, poultry, pork and processing potatoes, the White House said, while protecting the use of common names for meats and cheeses. In a joint statement, North Macedonia said it agreed to eliminate customs duties on all U.S. industrial and agricultural goods.
Taiwan currently applies an average tariff rate of nearly 17%, while North Macedonia’s average rate is close to 13%, according to the World Trade Organization. U.S. officials said the agreements are intended to strengthen trade ties and support American exporters.
NAFB news service
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