Trump Team Nears Taiwan Trade Deal With More US Chip Investment

The Trump administration is close to a trade deal with Taiwan that would lower American tariffs on goods from the self-governed island and significantly expand Taiwan Semiconductor Manufacturing Co.’s planned investment in chip production on US soil, according to people familiar with the matter.

Duties on Taiwanese imports would fall to 15% from the current level of 20%, according to one of the people. That level would put the Taiwan shipments on par with those from Japan and South Korea, which reached their own agreements last year.

Under the deal taking shape, TSMC would pledge to build at least ...