TAIPEI (Taiwan News) — A broad consensus has been reached on US tariff reductions for Taiwan, the Office of Trade Negotiations has said.

Progress has also been made in supply chain cooperation and preferential treatment for Taiwan, the office said, per CNA. Taiwan is waiting for the US side to arrange a final meeting to flesh out the final details of an agreement, it added.

The office said negotiations were divided into two phases. The first phase ran from April to July, during which Taiwan held multiple rounds of talks with US trade counterparts on issues including tariffs, non-tariff trade barriers, trade facilitation, economic security, expanded procurement, and supply chain cooperation.

Discussions on reducing tariffs for Taiwan and getting the most-favored-nation tariff rate under Section 232 of the Trade Expansion Act required a second round of negotiations, the office said. Further reductions to the tariff rate could only be made after these negotiations were completed.

In August, the two sides launched the second phase of talks. The office said Taiwan’s negotiating team engaged with the US Department of Commerce on supply chain cooperation using a “Taiwan model,” while continuing to press Washington for further reductions in reciprocal tariffs.

Taiwan has also continued talks with the US to confirm the contents of a future bilateral trade agreement, the office said.