AsianFin -- The White House announced on July 31 that it will adjust the retaliatory tariff rate on Taiwan region to 20%, down from the previously announced 32% in April.

According to the newly released list, Taiwan remains excluded from exemption and has been placed in the 20% tariff bracket, a category reserved for jurisdictions that do not meet the U.S. standard for reciprocal trade relations.

Reuters reported that Taiwanese negotiators were still in Washington as recently as July 30, holding intensive talks with U.S. officials in an effort to avoid harsher penalties. While Taiwan successfully reduced the rate to 20%, it fell short of securing parity with allies such as Japan and South Korea, which have been granted the lower 15% rate.