Cabinet seeks to reassure on US trade dealART: Taiwan and the US already reached a consensus on many issues covered by the Section 301 investigations, which the probe would reflect, a Cabinet spokeswoman saidStaff writer, with CNAThe benefits Taiwan secured under the US-Taiwan Agreement on Reciprocal Trade (ART) would not be affected by Washington’s decision to launch a probe into 16 economies, including Taiwan, under Section 301 of the US Trade Act, Cabinet spokeswoman Michelle Lee (李慧芝) said yesterday. Lee said she is optimistic that the new probe would not negate the favorable terms Taiwan secured under the deal, which, among other terms, lowered US tariffs from 20 percent to 15 percent without stacking them on Taiwan exports that already have most-favored nation status. Cabinet spokeswoman Michelle Lee speaks to reporters in Taipei yesterday. Photo courtesy of the Executive Yuan“Taiwan and the US have reached a consensus on many issues covered by the Section 301 investigations,” Lee said in a statement. Under the Section 301 provision, economies found to have adopted “unreasonable or discriminatory” measures against the US that “burden or restrict” its commerce could be subject to heavy tariffs.
