The Ministry of Foreign Affairs (MOFA) today said it is to lead a group of businesses to a US investment summit next month, as the government seeks to expand investments in the US in response to its 32 percent tariff imposed on Taiwanese goods.
The legislature’s Foreign Affairs and National Defense Committee tomorrow is to invite Cabinet ministers, trade officials and the central bank to report on diplomatic and trade responses to US tariffs and competition with China.
In a written report submitted to lawmakers today, the ministry said that in response to the US’ 32 percent tariffs that went into effect today, it is “working with relevant ministries to promote relevant contingencies.”
Photo: Lu Yi-hsuan, Taipei Times
Primarily, the government is aiming to purchase more from the US to reduce the trade deficit, including major purchases of agricultural and manufactured goods, oil and natural gas, the report said.
It is also looking to expand investments in the US to deepen Taiwan-US trade cooperation and enhance Taiwan’s strategic positioning, it said.
To this end, the ministry and relevant agencies are to assist businesses in attending the SelectUSA Investment Summit organized by the US Department of Commerce to help them better understand the investment environment in the US.
According to its official Web site, this year’s summit is to be held from May 11 to 14 in National Harbor, Maryland.
Taiwan and the US share values and complimentary industrial trade structures, the ministry said.
“Taiwan is an indispensable, important and reliable partner in the US' reconstruction of its manufacturing industry and consolidation of its high-tech leadership,” it said, adding that it hopes to seek a rational trade balance.
The US House of Representatives yesterday passed the PROTECT Taiwan Act, which stipulates that Washington would exclude China from participating in major global financial organizations if its actions directly threaten Taiwan’s security. The bill, proposed by Republican US Representative Frank Lucas, passed with 395 votes in favor and two against. It stipulates that if China’s actions pose any threat to Taiwan’s security, economic or social systems, the US would, “to the maximum extent practicable,” exclude China from international financial institutions, including the G20, the Bank for International Settlements and the Financial Stability Board. The bill makes it clear that China
Taiwan’s Li Yu-hsiang performs in the men’s singles figure skating short program at the Milano-Cortina Winter Olympics, in Milan, Italy, on Tuesday. Li finished 24th with a score of 72.41 to advance to Saturday’s free skate portion of the event. He is the first Taiwanese to qualify for the free skate of men’s singles figure skating at the Olympics since David Liu in 1992.
Garbage and recycling schedules are to vary from Saturday through Sunday next week over the Lunar New Year holiday period. The following collection information is from the governments of the six special municipalities. Taipei Regular service: Sunday to Monday next week. No service: Tuesday to Thursday next week. Extra service: Friday next week. Regular service resumes: Saturday next week. New Taipei City Extra service: Sunday. Adjusted collection time: Monday next week — garbage collection is to begin in the morning and end at 6pm. No service: Tuesday to Thursday next week. Regular service resumes: Friday next week. Note: Garbage can be dropped off at 70
The Coast Guard Administration (CGA) yesterday held a ceremony marking the delivery of its 11th Anping-class offshore patrol vessel Lanyu (蘭嶼艦), saying it would boost Taiwan’s ability to respond to Beijing’s “gray zone” tactics. Ocean Affairs Council Deputy Minister Chang Chung-Lung (張忠龍) presided over the CGA event in the Port of Kaoshiung. Representatives of the National Security Council also attended the event. Designed for long-range and protracted patrol operations at sea, the Lanyu is a 65.4m-long and 14.8m-wide ship with a top speed of 44 knots (81.5kph) and a cruising range of 2,000 nautical miles (3704km). The vessel is equipped with a
RSS