Taiwan is to rapidly expand procurement of US goods and arms and remove barriers to free trade, President William Lai (賴清德) wrote in a Bloomberg opinion piece published yesterday, in response to US President Donald Trump’s massive tariffs measures that have roiled global markets.
In an article titled “Taiwan has a roadmap for deeper US trade ties,” Lai laid out four core principles that are to guide the nation’s response to Trump’s tariffs.
Hours after the “reciprocal” tariffs went into effect on Wednesday last week, Trump said he was authorizing a 90-day pause, but would maintain a baseline universal tariff of 10 percent for most countries, effective immediately.
Photo courtesy of the Presidential Office
The exception was China, he said, announcing a 125 percent tariff on that country.
Lai said that like other nations, Taiwan would engage in trade negotiations with the US about tariffs.
“While Taiwan already maintains low tariffs, with an average nominal rate of 6 percent, we are willing to further cut this rate to zero on the basis of reciprocity with the US,” he wrote. “By removing the last vestiges to free and fair trade, we seek to encourage greater trade and investment flows between our two economies.”
Taiwan would also try to narrow the trade imbalance by “rapidly” procuring energy, agriculture and other industrial goods from the US, the president wrote.
Moreover, Taiwan would pursue additional arms procurement, which is vital in defending against Chinese threats, he said, adding that those purchases are not reflected in trade balances.
Third, Taiwan would establish a cross-agency called the “US Investment Team” to facilitate more investments in the US, he wrote.
Taiwanese firms in the US, including Taiwan Semiconductor Manufacturing Co, currently support 400,000 jobs. he wrote.
Fourth is Taiwan’s commitment to removing barriers to free trade, Lai said, adding that his administration would address US concerns about “export controls and improper transshipment of low-cost goods through Taiwan.”
“These steps form the basis of a comprehensive roadmap for how Taipei would navigate the shifting trade landscape, transforming challenges in the Taiwan-US economic relationship into new opportunities for growth, resilience and strategic alignment,” Lai wrote.
“At a time of heightened global uncertainty, underpinned by growing Chinese assertiveness, closer trade ties are more than sound economics; they are a critical pillar of regional security,” he wrote.
Three batches of banana sauce imported from the Philippines were intercepted at the border after they were found to contain the banned industrial dye Orange G, the Food and Drug Administration (FDA) said yesterday. From today through Sept. 2 next year, all seasoning sauces from the Philippines are to be subject to the FDA’s strictest border inspection, meaning 100 percent testing for illegal dyes before entry is allowed, it said in a statement. Orange G is an industrial coloring agent that is not permitted for food use in Taiwan or internationally, said Cheng Wei-chih (鄭維智), head of the FDA’s Northern Center for
LOOKING NORTH: The base would enhance the military’s awareness of activities in the Bashi Channel, which China Coast Guard ships have been frequenting, an expert said The Philippine Navy on Thursday last week inaugurated a forward operating base in the country’s northern most province of Batanes, which at 185km from Taiwan would be strategically important in a military conflict in the Taiwan Strait. The Philippine Daily Inquirer quoted Northern Luzon Command Commander Lieutenant General Fernyl Buca as saying that the base in Mahatao would bolster the country’s northern defenses and response capabilities. The base is also a response to the “irregular presence this month of armed” of China Coast Guard vessels frequenting the Bashi Channel in the Luzon Strait just south of Taiwan, the paper reported, citing a
A total lunar eclipse, an astronomical event often referred to as a “blood moon,” would be visible to sky watchers in Taiwan starting just before midnight on Sunday night, the Taipei Astronomical Museum said. The phenomenon is also called “blood moon” due to the reddish-orange hue it takes on as the Earth passes directly between the sun and the moon, completely blocking direct sunlight from reaching the lunar surface. The only light is refracted by the Earth’s atmosphere, and its red wavelengths are bent toward the moon, illuminating it in a dramatic crimson light. Describing the event as the most important astronomical phenomenon
UNDER PRESSURE: The report cited numerous events that have happened this year to show increased coercion from China, such as military drills and legal threats The Chinese Communist Party (CCP) aims to reinforce its “one China” principle and the idea that Taiwan belongs to the People’s Republic of China by hosting celebratory events this year for the 80th anniversary of the end of World War II, the “retrocession” of Taiwan and the establishment of the UN, the Mainland Affairs Council (MAC) said in its latest report to the Legislative Yuan. Taking advantage of the significant anniversaries, Chinese officials are attempting to assert China’s sovereignty over Taiwan through interviews with international news media and cross-strait exchange events, the report said. Beijing intends to reinforce its “one China” principle
RSS