Taiwan’s premier on Tuesday addressed concerns regarding the U.S. possibly announcing new trade measures, including tariffs, on semiconductors, pharmaceuticals, and other goods. Premier Cho Jung-tai (卓榮泰) says that the government is adopting a three-step approach to the changes, which entails stabilizing domestic industries, preparing negotiation strategies, and remaining ready to respond to the evolving tariff situation.
To mitigate the impact of potential tariff changes, the Cabinet has proposed an NT$88 billion (approximately US$2.7 billion) support package. Cho says, however, that the U.S. continues to roll out different policies, and so more time is needed to respond accordingly.
Cho says Taiwan’s negotiation team has already conducted its first official video conference. Initial discussions with the U.S. focused on reciprocal tariffs, non-tariff trade barriers, and export controls. He adds that the team is ready to present Taiwan’s expectations. The goal, he says, is to achieve balanced and fair trade while safeguarding local industries. He urges the public to be patient as the government works to manage the situation.