Taiwan’s Cabinet has drafted a law that will subsidize businesses and workers that are affected by Taiwan’s international trade agreements.
Wu Ming-ji, the head of the economics ministry’s Industrial Development Bureau, explained the contents of the bill.
"The new bill doesn’t just include what’s covered under current laws," Wu said. "It especially caters to businesses and workers’ needs. Meanwhile, the draft also includes provisions to help industries to adapt, which are part of the current laws."
The budget for the draft is set to be NT$98.2 billion (around US$3 billion). The government is planning to establish a development fund to subsidize businesses and workers to keep up, after Taiwan sign free trade agreements with other countries.