In response to the U.S. imposing a 32% reciprocal tariff on Taiwan that came into effect on Wednesday, President Lai Ching-te (賴清德), who also serves as chairman of the Democratic Progressive Party (DPP), stated during a DPP Central Standing Committee meeting that the U.S. plan, which includes Taiwan, has significantly impacted market confidence. In the medium to long term, it could have profound effects on the global economic and trade landscape.
Lai stressed that Taiwan has no plans to launch retaliatory tariffs and will continue to improve the reciprocal tariff terms and safeguard the fair competitive position of Taiwanese businesses by holding close talks with the United States.
Lai noted that the government promptly rolled out a set of 20 measures across nine key areas covering various industries. These include financing, industry support, reduced export procedures, a single-window advisory service, employment stabilization efforts, and market diversification initiatives. He added that, with support from opposition parties, the administration could swiftly allocate at least NT$88 billion (US$2.72 billion) in new funding to assist industries affected by the initial wave of tariffs—while also laying the groundwork for Taiwan’s medium- to long-term industrial transformation.