TAIPEI (TVBS News) — Premier Cho Jung-tai (卓榮泰), head of Taiwan's cabinet, the Executive Yuan, traveled to Tainan on Friday (Jan. 23) to engage with industry leaders following Taiwan-U.S. tariff negotiations. Cho emphasized the government's proactive approach to support industries in adjusting to new tariffs. He also stressed that administrative and financial institutions must align with industrial needs during the transition period.
Cho revealed that after more than nine months of negotiations, the team reached an agreement with the U.S., reducing tariffs from 32% to 20%, and now adjusted to 15%. He stated that 15% tariffs maintain competitiveness compared to neighboring countries, but different industries face unique challenges, requiring government outreach to the private sector. The Premier visited Laien Parts Technology (錸恩帕斯科技公司), a supply chain partner of Taiwan Semiconductor Manufacturing Co. (TSMC, 台積電), the world's largest contract chipmaker, to understand industry needs.
Cho said the government began dialogues with industry leaders this week to address their concerns and gather feedback on tariff impacts. He described Laien Parts Technology as an "invisible champion" of Taiwan, highlighting the importance of understanding their requirements. Cho mentioned an upcoming discussion with the auto parts industry, promising swift implementation of special budgets to support industries after signing the Taiwan-U.S. trade agreement.
The Premier assured that the government will boost international market development, support domestic industry transformation, and provide financial assistance to ensure immediate support for affected businesses. He urged financial institutions to proactively address industry challenges and to provide comprehensive support during the tariff adjustment period. The government aims to minimize disruption to Taiwan's export-driven economy. ◼ (At time of reporting, US$1 equals approximately NT$31.6)