resident Lai Ching-te (賴清德) met with senior officials on Sunday night to discuss contingency plans ahead of potential US “reciprocal tariffs” expected on Wednesday.
Premier Cho Jung-tai (卓榮泰) delivered a report to Lai and the Taiwan-US trade working group assessing the economic impact of different tariff levels, per CNA. According to a Presidential Office statement, Lai instructed the government to support industries affected by the tariffs.
The Trump administration has announced plans to impose reciprocal tariffs on the 15 countries with the largest trade surpluses with the US. Taiwan, which ranks sixth behind China, Mexico, Vietnam, Ireland, and Germany, is expected to be among the targets.
The Executive Yuan’s Office of Trade Negotiations said it has been preparing for the announcement over the past two months and has developed response plans.
Taiwan has taken steps to reduce its trade surplus with the US, including signing a letter of intent to purchase liquefied natural gas from Alaska and identifying other potential goods for import.
Officials emphasized that Taiwan’s surplus reflects rising US demand for Taiwanese tech products, not unfair trade practices. According to the Central Bank, “It reflects the structural problem of the sharp increase in US demand for Taiwan’s technological products and the expansion of our trade surplus with the United States.”
Taiwan’s trade surplus with the US hit a record high last year, surging 83%. Exports totaled NT$3.69 trillion (US$111.4 billion), driven primarily by demand for semiconductors and other technology.
