US Lowers Tariff on Taiwan Auto Parts to 15%; Tong Yang Sees Return to Fair Competition

The US has implemented tariff relief under Section 232 of the Trade Expansion Act for Taiwanese non-semiconductor products, reducing the tariff on auto parts to 15%. In response, major auto parts manufacturer Tong Yang stated that this is a positive development for Taiwan's auto parts industry, allowing local firms to return to a fair competitive footing with major rivals. The adjustment includes a cap of 15% for auto parts and wood products, while certain steel, aluminum, and copper derivatives for aircraft parts are exempted from Section 232 tariffs. Tong Yang noted that while competitors in the EU, Japan, and South Korea have enjoyed the 15% rate, Taiwan had been subject to higher tariffs. This change will help reduce import costs for customers and improve Taiwan's competitiveness in the US market. The company plans to continue focusing on its core business and monitoring global market changes.