Taiwan Trade Discussions: U.S. and Taiwan officials...

Taiwan Trade Discussions: U.S. and Taiwan officials failed to reach agreement on nagging trade differences after five days of talks in which the Americans urged the Taiwanese to further liberalize import practices. Taiwan outlined the four-year plan to Washington in March in an attempt to avoid possible trade retaliation by the United States. Under the plan, Taiwan is to liberalize financial and trade markets to reduce this island’s trade imbalance by at least 10% each year and gradually cut import tariffs until they average 7% in 1992. Last year, Taiwan registered a trade surplus of $10.4 billion with the United States.