"Taiwanese Vice Premier Cheng Li-chun announced the US will cut tariffs on Taiwan to 15 per cent at a press conference on Friday in Washington, DC, following the meeting between Taiwan's delegation and US Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer. "The overall negotiation result is that we obtained two Most-Favoured-Nation (MFN) treatments: a 15 per cent tariff rate with no reduction, the lowest among countries with a US trade deficit," she said. Under the new trade deal, the US will lower tariffs on Taiwanese goods from a 20 per cent 'reciprocal' rate to 15 per cent in exchange for 250 billion dollar in investments in the American tech industry. "The 15 per cent tariff rate with no reduction that we obtained is actually on par with major US allies such as Europe, Japan, and South Korea. We will receive the same tariff rate," Cheng Li-chun commented. In addition, the nation secured preferential treatment for semiconductors and related products under Section 232 - legislation that allows the president to charge duties for goods found to threaten US national security. The Vice Premier pledged her country's commitment to help the US President Donald Trump in turning the US into the 'world's AI centre.' "We hope to participate in building the US domestic supply chain. We further hope that Taiwan and the US will move from trade negotiations to a closer, mutually beneficial trade partnership and a high-tech strategic partnership in the future," she said. Taiwan is believed to be a central hub for AI server manufacturing. The island accounts for 60 per cent of the world's semiconductors and over 90 per cent of the most advanced chip production. China firmly opposed the US-Taiwan trade agreement."