No tariff war: Taiwan opts for talks with US following import levy

(MENAFN) Taiwan's leader Lai Ching-te has announced that Taipei will not retaliate against the recent 32% tariff imposed on Taiwanese goods by the United States, according to reports.

This announcement follows US President Donald Trump's declaration on Wednesday of extensive tariffs, which range from 10% to 50% on imports from various countries and economic regions, including Taiwan, a US ally, which will now face a 32% surcharge on its exports to the US.

Acknowledging the "significant impact" the 32% tariff will have on Taiwan's economy in a video address, Lai urged the public to remain calm, emphasizing the nation's strong economic fundamentals. He stated firmly, "Taiwan has no plans to take retaliatory tariff action in response to the United States' 'reciprocal tariffs.' Investments by Taiwanese companies in the US will also proceed without any changes, as long as they align with our national interests."

To mitigate the effects of the tariffs, Lai Ching-te revealed that his administration has established a negotiation team to initiate formal talks with the United States.

Additionally, the leader mentioned that his government will assist Taiwanese companies in boosting their investments in the US, especially in industries such as electronics, information and communication technology, petrochemicals, and natural gas.

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