Taiwan’s tariff negotiations with the US would not sacrifice the interests of the nation’s agricultural and fishery industries, President William Lai (賴清德) said on Friday as he met with fish farming industry owners in Chiayi County.
US President Donald Trump on April 2 announced “reciprocal” tariffs on countries with large trade surpluses with the US, including Taiwan, which was facing an across-the-board 32 percent import duty.
The White House announced a 90-day pause on the new measures last week, with only a 10 percent duty to be applied instead to all countries except China.
Photo: Screen grab from the Presidential Office’s Flickr page
An Executive Yuan official on Wednesday said that Taiwan and the US expect to hold a second round of tariff negotiations soon following a first discussion on April 11.
During the meeting with Lai, Taiwan Aquaculture Development Association chief executive officer Hou Yen-lung (侯彥隆) cited the example of how Taiwanese tilapia, which previously held only 50 to 60 percent of the US market, now has 80 percent of the post-COVID-19 pandemic US market, highlighting the government’s support for the aquaculture industry.
Such support, alongside excellent technique and technology, ensures that Taiwanese tilapia shines among the hundred countries that are raising tilapia for exports, he said, adding that industry members hope the industry continues to garner such support during the tariff negotiations.
A primary focus is how to reduce disease among the fish population, and if fish illness can be reduced or eradicated, it would provide greater export opportunities, he said.
Aquaculture industry owners and farmers are especially nervous, as it is currently the season for planting and fish stocking, Hou said.
Not everyone can work at Taiwan Semiconductor Manufacturing Co (TSMC), and each person has their own strengths, Lai said.
Farming and fisheries industries are fundamental industries that buttress the nation, and their interests would not be forfeited, he said.
Lai cited the Fisheries Research Institute producing the first batch of artificially grown narrow-barred mackerel which helped diversify fish species grown by Taiwanese fish farmers, which would greatly aid the nation’s fish exports.
The Executive Yuan is putting together a NT$88 billion (US$2.7 billion) package to support industries affected by Trump’s “reciprocal” tariffs, among which NT$10 billion to NT$20 billion would be used to support the agriculture and fisheries industries, he said.
The Executive Yuan would ensure that its support programs are implemented and that the government is committed to encouraging mid to long-term economic development, he said.
It is crucial that Taiwan increases its investment in the US to ensure that its products have a global market, he added.
Lai urged national solidarity to help grow and support local agriculture and aquaculture industries.
Additional reporting by CNA
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