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The United States and Taiwan reached a trade deal on Thursday that cuts tariffs on Taiwanese goods in exchange for USD 250 billion in new investments in the US tech industry. The deal is the latest President Donald Trump has struck such as those with the European Union and Japan since he unveiled a sweeping tariff plan last April to address trade imbalances. Trump also has a one-year trade truce with China to stabilise ties with the world's second largest economy. Trump initially set the tariff at 32 per cent on Taiwanese goods but later changed it to 20 per cent. The new agreement slashes the tariff rate to 15 per cent, the same as levied on other US trading partners in the Asia-Pacific region such as Japan and South Korea. In a statement, the US Department of Commerce said the deal with Taiwan would establish an economic partnership to create several world-class US-based industrial parks in order to help build up domestic production. The department described it as "a historic ..