TAIPEI (TVBS News) — Minister of Economic Affairs J.W. Kuo (郭智輝) convened textile industry leaders Wednesday (Aug. 6) at the Taiwan Textile Research Institute (紡織產業綜合研究所) for urgent discussions on trade challenges. The high-stakes meeting addressed mounting concerns over U.S. tariffs, currency fluctuations, and artificial intelligence integration across Taiwan's textile sector. Industry representatives expressed cautious optimism that Taiwan's temporary 20 percent U.S. tariff, matching rates imposed on Southeast Asian competitors, would have minimal impact on domestic textile operations.
Minister Kuo stressed that America's tariff reduction from 32 percent to 20 percent represents only a temporary reprieve. Premier Jong-Tai Cho (卓榮泰), Taiwan's head of government, ordered ministries to develop export supply chain support and draft emergency budgets. The Ministry of Economic Affairs (MOEA, 經濟部) unveiled a NT$93 billion (around US$3.11 billion) industrial support package featuring financial stabilization measures and AI integration through specialized training programs.
Minister Kuo outlined the government's comprehensive support strategy, including guidance on currency hedging tools and expansion into New Southbound (新南向) markets, Taiwan's diplomatic initiative targeting Southeast Asia. Industry representatives countered with requests for stable electricity pricing and exchange rates alongside enhanced resources for talent development and product innovation. The textile leaders emphasized these measures as essential foundations for ensuring the industry's long-term sustainable growth amid global trade uncertainties. ◼ (At time of reporting, US$1 equals approximately NT$29.890)