Premier Cho Jung-tai (卓榮泰) and other members of a Taiwan-US trade task force briefed President William Lai (賴清德) yesterday evening on the potential impacts of reciprocal tariffs the US is set to introduce, including contingency preparations.
The Executive Yuan established a US-Taiwan economic and trade task force in November last year, holding interministerial meetings and cooperating with the National Security Council (NSC) to stay updated on the latest developments in US trade and tariff policies.
Cho is monitoring the team to ensure that potential US trade policies are analyzed in advance, allowing the government to assess potential impacts and prepare countermeasures, government officials said.
Photo: Taipei Times
US President Donald Trump yesterday said that reciprocal tariffs he is set to announce this week would include all nations, not just a smaller group of 10 to 15 countries with the biggest trade imbalances.
Trump has promised to unveil a massive tariff plan on Wednesday, which he has dubbed "Liberation Day."
He has already imposed tariffs on aluminum, steel and autos, along with increased tariffs on all goods from China.
The task force, led by Vice Premier Cheng Li-chun (鄭麗君), is working with the Office of Trade Negotiations, Ministry of Economic Affairs and Ministry of Finance on preparation work.
Their efforts focus on industry communication, evaluating policy tools, engaging in negotiations with the US and analyzing the global industrial and economic competitive landscape, officials said.
According to reports, Lai thanked Cho and the task force for their work hard over the past few months, cooperating with the NSC to prepare for various uncertainties in the global economy.
Lai requested that Cho and NSC Secretary-General Joseph Wu (吳釗燮) lead their teams in continuing to monitor the latest developments, conducting careful assessments and preparing the most appropriate responses.
This would protect national interests and ensure the stability and growth of the economy, he said.
He added that strong support must be provided for industries that would be impacted by changing global policies.
Additional reporting by Reuters
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