Taiwan hopes that it can come to a quick agreement with the US to resolve the tariff issue, and last weekend already approached Washington to discuss the issue, National Security Bureau Director-General Tsai Ming-yen (蔡明彥) said today.
Taiwan has responded to US President Donald Trump's 32 percent tariff set to take effect today US time with an offer of zero tariffs, more investment in the country and purchases from it, and said it would not retaliate.
Photo: Liao Chen-hui, Taipei Times
Speaking to reporters at the legislature, Tsai said the government's position was not to take retaliatory measures, but to come up with more specific solutions.
President William Lai (賴清德) has instructed officials to initiate "strategic communication" between Taiwan and the US, he said.
"So last weekend, we used channels to talk to the US to reflect our position on Taiwan-US tariff negotiations and some of our proposals," Tsai said, without giving details.
Lai has held many meetings with officials to discuss the detailed response, including how to strengthen investment or procurement in the US, he added.
"I think that through this more comprehensive negotiation preparation, we hope that once the US agrees that Taiwan and the US can have a related negotiation process, the two sides can quickly come to an agreement to promote the progress of the relevant negotiation," he added.
The tariffs have hammered Taiwan's stock market.
The government yesterday evening announced the activation of its stock stabilization fund to restore investor confidence and ensure market stability.
The benchmark stock index was down about 1.5 percent today, after hefty losses in the two previous sessions.
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