TAIPEI (TVBS News) — Minister of Economic Affairs Kung Ming-hsin (龔明鑫) met with seven major industry groups and local businesses on Friday (Sept. 5) to assess the impact of U.S. tariffs on Taiwan's economy. The industries proposed that support measures be categorized by sector and recommended increased subsidies for domestic equipment purchases that meet specific thresholds. This consultation reflects the government's effort to address mounting concerns about trade tensions affecting Taiwan's export-dependent economy.
The Ministry of Economic Affairs (經濟部) launched four support programs on Aug. 7, including increased export loan guarantees, additional financing for small and medium enterprises, R&D transformation subsidies, and overseas order assistance. More than 700 applications have been submitted, with over 120 requests for diversified development loans totaling NT$1.13 billion (around US$37 million). These measures target industries struggling with U.S. reciprocal tariffs by addressing cash flow problems, boosting technological capacity, and expanding overseas market reach.
The ministry approved eight export loan guarantee cases, with guarantee amounts totaling NT$253.72 million (around US$8.3 million) and financing reaching NT$287.6 million (around US$9.4 million). For R&D transformation subsidies, 252 applications remain under review while 69 have been submitted. The machinery industry leads applications, followed by the metal products sector.
For overseas order assistance, 321 applications are under consideration while 13 have been submitted, primarily from machinery equipment, consumer goods, and metal manufacturing sectors. The ministry directed affiliated organizations and commissioned units to help affected businesses clarify market strategies and provide technical support. Officials plan to continue working with industry associations to promote and explain these support measures. ◼