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Taiwan Praises Positive Trade Discussions with US
(MENAFN) Taiwan’s president, William Lai Ching-te, announced on Saturday that the initial phase of discussions regarding tariff matters with the United States had proceeded in a "smooth" manner.
This signals a constructive beginning in addressing trade concerns between Taipei and Washington.
Lai highlighted the strength of the island’s economy, describing it as "resilient," and explained that government officials had implemented measures to reduce the effects of new American tariffs.
These actions include providing aid to industries that may experience difficulties due to the updated trade duties, based on a report from a state-operated news agency.
He further mentioned that Taipei does not plan to respond with countermeasures to the tariffs imposed by the US. Instead, the government intends to boost its importation of American products in an effort to decrease the existing trade imbalance between the two economies.
Earlier, United States Leader Donald Trump had introduced a 32 percent tariff on Taiwanese exports. However, this past Wednesday, the administration opted to temporarily suspend these tariffs for a period of 90 days for all countries except China.
Despite this suspension, a baseline tariff of 10 percent remains in place.
This signals a constructive beginning in addressing trade concerns between Taipei and Washington.
Lai highlighted the strength of the island’s economy, describing it as "resilient," and explained that government officials had implemented measures to reduce the effects of new American tariffs.
These actions include providing aid to industries that may experience difficulties due to the updated trade duties, based on a report from a state-operated news agency.
He further mentioned that Taipei does not plan to respond with countermeasures to the tariffs imposed by the US. Instead, the government intends to boost its importation of American products in an effort to decrease the existing trade imbalance between the two economies.
Earlier, United States Leader Donald Trump had introduced a 32 percent tariff on Taiwanese exports. However, this past Wednesday, the administration opted to temporarily suspend these tariffs for a period of 90 days for all countries except China.
Despite this suspension, a baseline tariff of 10 percent remains in place.
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