Progress of Global Trade Negotiations 90 Days After the Implementation of Reciprocal Tariffs

On July 31, Trump signed an executive order declaring that the U.S. faces "unusual and extraordinary threats" to its economy and national security due to long-standing unequal trade and trade deficits. Consequently, tariffs ranging from 10% to a maximum of 41% were imposed on specific countries. The primary affected exporters include China (30%), the EU (15%), Japan (15%), South Korea (15%), and Taiwan (20%).

During related interviews, Trump revealed more aggressive trade measures, including plans to require pharmaceutical companies to relocate production lines to the U.S. and gradually raise drug tariffs to 250%. Additionally, he foreshadowed new tariff policies targeting semiconductor chips, adding further uncertainty to the already complex international trade landscape.

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Negotiation Outcomes by Country/Region

Since the policy's implementation, nations have actively engaged in trade talks with the U.S. to mitigate tariff impacts. Below are key results and terms:

Country/Region	April Tariff	Current Tariff	Status	Key Provisions
China	145%	30%	Negotiating	- Potential extension of trade truce - If an agreement is reached, the China-US meeting will take place; otherwise, it will be canceled.
EU	30%	15%	Agreed	- Purchase $750 billion in U.S. energy - EU businesses invest $600 billion in the U.S.
Japan	24%	15%	Agreed	- Invest $550 billion in the U.S. - Open markets to U.S. automobiles and agricultural products
South Korea	24%	15%	Agreed	- Open markets to U.S. automobiles and rice - Invest $350 billion in the U.S. (including $150 billion in shipbuilding cooperation)
Taiwan	32%	20% (temporary)	Negotiating	- Must offer substantial concessions to reduce tariff to 15% - TSMC options: ① Acquire 49% of Intel shares ② Invest $400 billion in the U.S.

The EU, Japan, and South Korea have made notable concessions in investment and market access. In contrast, China and Taiwan remain in negotiations.

The China-U.S. trade talks have global implications, as their outcome could shape the world economic order. A deal could extend the trade truce and facilitate high-level meetings, while failure risks prolonged friction.

Taiwan's negotiations require proposals acceptable to the U.S. TSMC's proposed acquisition of 49% of Intel shares has become a focal point, with potential transformative effects on Taiwan's semiconductor industry if realized.

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Conclusion

Since the Trump administration's reciprocal tariff policy, major global trade partners have been affected. While some countries and regions have reached phased trade agreements with the United States, adjusting tariff rates and making corresponding commitments and concessions on investment and market opening, all countries face complex conflicts of interest during the negotiations.