President William Lai (賴清德) met with tech executives yesterday to discuss how to respond to the US’ tariffs, promising to ensure Taiwan’s global competitiveness and safeguard the nation’s interests.
US President Donald Trump on Wednesday announced sweeping “reciprocal tariffs” targeting several trade partners, including a 32 percent levy on products from Taiwan, set to take effect on Wednesday.
The US tariffs do not apply to semiconductors, a major Taiwanese export.
Photo courtesy of the Presidential Office
Lai met executives at his official residence to discuss how to respond to “the global economic and trade challenges brought about by the reciprocal tariff policy,” Presidential Office spokesperson Karen Kuo (郭雅慧) said in a statement.
“Lai hopes to give the industry the greatest support, stabilize the economic situation, ensure Taiwan’s global competitiveness, and safeguard our country’s national interests and the continued steady progress of our economy,” Kuo said.
Representatives from the information and communications technology industry who attended the meeting included Hon Hai chairman Young Liu (劉揚偉), Kinpo Group chairman Rock Hsu (許勝雄), Wistron president Jeff Lin (林建勳), Taiwan Electrical and Electronic Manufacturers’ Association chairman Richard Lee (李詩欽), Pegatron Group chairman Tung Tzu-hsien (童子賢), Acer Group founder Stan Shih (施振榮) and chairman Jason Chen (陳俊聖), Asus Group co-chief executive officer Samson Hu (胡書賓), AUO Corp chairman Paul Peng (彭雙浪), who is also chairman of the Taipei Computer Association, and Taiwan Semiconductor Manufacturing Co vice president Cliff Hou (侯永清), who is also chairman of the Taiwan Semiconductor Industry Association.
A source said on condition of anonymity that attendees reached a consensus that the government should not take action without a clear plan.
Countries responded differently to the tariffs — revenge, submission or compromise — but further observation is required, as challenges posed to each country are different and Washington has yet to make final decisions, the source said.
Attendees agreed that the government should not enter negotiations without bargaining chips and there was no need to rush into a showdown, while offering assurances to affected sectors, the source added.
Lai and Premier Cho Jung-tai (卓榮泰) are today to meet with representatives from traditional industries and heads of micro, small and medium enterprises to hear the views and needs of frontline companies, the source added.
Separately, Cho yesterday met with Central Bank Governor Yang Chin-long (楊金龍), Financial Supervisory Commission Chairman Peng Jin-lung (彭金隆) and Minister of Finance Chuang Tsui-yun (莊翠雲) to discuss measures to stabilize financial markets, the Cabinet said.
A source from the Cabinet did not say whether the meeting involved discussions on activating the National Financial Stabilization Fund — a mechanism designed to support the Taiwan Stock Exchange during periods of economic volatility. The fund could be convened at any time after the financial markets reopen tomorrow.
Taiwan’s markets have been closed since Thursday for the Tomb Sweeping Day and Children’s Day holidays.
Premier Cho Jung-tai (卓榮泰) on Friday urged the public to prepare for potential market turbulence following the implementation of US President Donald Trump’s so-called “liberation day” tariffs.
Additional reporting by Chung Li-hua and CNA
PRAISE: Japanese visitor Takashi Kubota said the Taiwanese temple architecture images showcased in the AI Art Gallery were the most impressive displays he saw Taiwan does not have an official pavilion at the World Expo in Osaka, Japan, because of its diplomatic predicament, but the government-backed Tech World pavilion is drawing interest with its unique recreations of works by Taiwanese artists. The pavilion features an artificial intelligence (AI)-based art gallery showcasing works of famous Taiwanese artists from the Japanese colonial period using innovative technologies. Among its main simulated displays are Eastern gouache paintings by Chen Chin (陳進), Lin Yu-shan (林玉山) and Kuo Hsueh-hu (郭雪湖), who were the three young Taiwanese painters selected for the East Asian Painting exhibition in 1927. Gouache is a water-based
Taiwan would welcome the return of Honduras as a diplomatic ally if its next president decides to make such a move, Minister of Foreign Affairs Lin Chia-lung (林佳龍) said yesterday. “Of course, we would welcome Honduras if they want to restore diplomatic ties with Taiwan after their elections,” Lin said at a meeting of the legislature’s Foreign Affairs and National Defense Committee, when asked to comment on statements made by two of the three Honduran presidential candidates during the presidential campaign in the Central American country. Taiwan is paying close attention to the region as a whole in the wake of a
A magnitude 4.1 earthquake struck eastern Taiwan's Hualien County at 2:23pm today, according to the Central Weather Administration (CWA). The epicenter of the temblor was 5.4 kilometers northeast of Hualien County Hall, at a depth of 34.9 km, according to the CWA. The earthquake's intensity, which gauges the actual effect of a temblor, was the highest in Hualien County, where it measured 2 on Taiwan's 7-tier intensity scale. The quake also measured an intensity of 1 in Yilan county, Taichung, Nantou County, Changhua County and Yunlin County, the CWA said. There were no immediate reports of damage or injuries.
OFF-TARGET: More than 30,000 participants were expected to take part in the Games next month, but only 6,550 foreign and 19,400 Taiwanese athletes have registered Taipei city councilors yesterday blasted the organizers of next month’s World Masters Games over sudden timetable and venue changes, which they said have caused thousands of participants to back out of the international sporting event, among other organizational issues. They also cited visa delays and political interference by China as reasons many foreign athletes are requesting refunds for the event, to be held from May 17 to 30. Jointly organized by the Taipei and New Taipei City governments, the games have been rocked by numerous controversies since preparations began in 2020. Taipei City Councilor Lin Yen-feng (林延鳳) said yesterday that new measures by
RSS