Washington and Taipei reached a trade deal late on Thursday that involves lower tariffs on Taiwanese exports and direct new investments in the US technology sector. The US will lower tariffs on Taiwanese goods to 15% from 20%, with some sectors capped at 15% and some products facing no duties. Taiwanese chip and tech businesses will make new direct investments totaling at least $250 billion in the US, and Taiwan will guarantee an additional $250 billion in credit to facilitate further investment. US Commerce Secretary Howard Lutnick said the objective is to bring 40% of Taiwan’s chip supply chain and production to the United States.