Overseas Community Affairs Council (OCAC) Minister Hsu Chia-ching (徐佳青) says that overseas Taiwanese businesses are facing significant challenges due to the United States' reciprocal tariff policies. The remarks were made during a legislative hearing on Wednesday.
Hsu says OCAC has begun gathering feedback from Taiwanese business association leaders worldwide and will continue to coordinate resources to strengthen communication and support for the global Taiwanese business community. She adds that the council has also tasked the Overseas Credit Guarantee Fund with exploring financing guarantees to assist those affected.
Hsu further explains that many overseas Taiwanese entrepreneurs operate not only in their countries of residence but also invest in third countries due to global supply chain changes. This leaves them especially vulnerable to trade policy shifts like the U.S. tariffs.
When asked about the impact on businesses in Southeast Asia, Hsu responded that outcomes vary. Using the Philippines as an example, she says Taiwanese businesses there may benefit as lower reciprocal tariffs have led to more orders and investment opportunities. She says given the impact of the U.S. tariffs, OCAC is working on further categorizing the impact by industry, such as manufacturing, services, or other sectors.