Taipei: Taiwan’s leader Lai Ching-te stated on Sunday that Taipei has no intentions of retaliating against the 32% tariff on Taiwanese goods imposed by the US.
According to Anadolu Agency, the announcement followed US President Donald Trump’s declaration of extensive tariffs ranging from 10% to 50% on imports from numerous countries and regions, including Taiwan. This decision means that Taiwan’s exports to the US will now face a significant 32% surcharge.
In a video address, Lai acknowledged the substantial impact the tariff could have on Taiwan’s economy. He urged the public to remain calm, emphasizing the strength of the country’s economic foundations. Lai noted that Taiwan would not engage in retaliatory tariff actions against the US, referring to the US tariffs as ‘reciprocal tariffs.’ He assured that Taiwanese investments in the US would continue, provided they align with national interests.
To mitigate the tariffs’ effects, Lai announced the formation of a negotiation team tasked with initiating formal discussions with the United States. He also pledged governmental support for Taiwanese companies to enhance their investments in the US, specifically in industries such as electronics, information and communication technology, petrochemicals, and natural gas.