President William Lai (賴清德) yesterday said his decision to allocate more than 3 percent of GDP for defense was made before the US announcement of tariffs and is unrelated to the Taiwan-US Agreement on Reciprocal Trade signed Thursday.
Lai made the remarks at a news conference in response to media queries about the provision in the agreement that specifies Taiwan’s annual defense budget should exceed 3 percent of GDP. Reporters questioned whether this provision could legally bind the country’s fiscal spending ratio and whether it might crowd out other budget allocations.
Lai said that since being elected president, he has publicly committed to strengthening Taiwan’s defense capabilities to demonstrate the country’s resolve in safeguarding national security and maintaining peace and stability in the Indo-Pacific Region.
Photo: Lo Pei-de, Taipei Times
The decision to allocate more than 3 percent of GDP for defense was made prior to the announcement of US tariffs on Taiwan, and the 3 percent to 5 percent defense budget target is unrelated to the trade negotiations, he said.
Lai said that Taiwan’s defense budget for this year has already surpassed 3 percent of GDP.
He said that there would be no issues with its implementation going forward.
Lai was also asked whether investing in the US would endanger Taiwan’s most advanced industries as chipmaker Taiwan Semiconductor Manufacturing Co (TSMC) has committed to US$165 billion in investments in the US, including not only fabrication plants but a major research-and-development (R&D) center that would help build a supply chain to power US artificial intelligence ambitions.
“Whether it’s TSMC or other industries, as long as their R&D centers are in Taiwan, their advanced manufacturing processes are in Taiwan and their largest production volume is in Taiwan, Taiwan can continue to develop steadily,” Lai said.
Businesses investing in other countries is an extension of their corporate strength, and the government respects each company’s independent decision, he added.
Additional reporting by AP
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