U.S. Announces Trade Deals with Taiwan, North Macedonia

Late last week, the United States announced new trade agreements with Taiwan and North Macedonia.

According to the Office of the U.S. Trade Representative, Taiwan will eliminate or reduce tariffs on 99% of U.S. products.  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%. 

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