The United States and Taiwan reach a trade deal to lower tariffs and boost chip investment

The United States and Taiwan have reached a trade deal. The agreement involves Taiwan pledging to invest hundreds of billions of dollars in semiconductor production, energy, and artificial intelligence in the United States. In exchange, the United States will lower tariffs on Taiwanese goods.

China has denounced the deal, calling it a 'sellout pact' that harms Taiwan's interests. The deal is focused on semiconductors, with Taiwan's chipmaker TSMC planning more U.S. factories and reporting record profits.