Latest news with #Taiwan-US
South China Morning Post
20-05-2025
- Business
- South China Morning Post
William Lai vows to protect Taiwan security and industry in speech marking year as leader
Taiwanese leader William Lai Ching-te has pledged to protect interests of the island's various sectors in its ongoing tariff negotiations with the United States, while standing firm on security amid growing pressure from Beijing. Advertisement In a speech marking his first year in office on Tuesday, Lai reiterated his call for peace and dialogue with Beijing but emphasised that Taiwan must continue strengthening its defence and self-reliance to ensure security and stability. Facing both external and internal challenges over the past year, Lai has had to navigate tensions with Washington – despite what he described as the 'best-ever' US-Taiwan relations – alongside near-daily military threats from Beijing and sharp political divisions at home. 02:17 Nvidia CEO Jensen Huang unveils plan to build 'AI supercomputer' in Taiwan Nvidia CEO Jensen Huang unveils plan to build 'AI supercomputer' in Taiwan The administration was caught off guard last month when US President Donald Trump announced a sweeping 32 per cent tariff on Taiwanese imports , citing unfair trade practices and a large bilateral surplus. 'Friction between friends is inevitable, but it can be worked through,' Lai said. 'Taiwan has long engaged and cooperated with the United States and other democratic partners, growing together through mutual encouragement.' Advertisement Responding to mounting concern over the tariff talks, Lai said discussions were 'ongoing and proceeding smoothly' after a previous round of in-person negotiations. 'The government will uphold three core principles: protecting national interests, supporting industrial development, and never sacrificing any single sector,' he said. 'We will deepen Taiwan-US economic ties in a deliberate, balanced and strategic manner to secure the best possible outcome.'
Straits Times
06-05-2025
- Business
- Straits Times
Taiwan foreign minister to visit Texas to boost trade ties
Mr Lin Chia-lung would speak at a Taiwan-Texas AI summit in the state on May 9. PHOTO: REUTERS TAIPEI - Taiwan's foreign minister will visit the US state of Texas to speak at a forum on artificial intelligence (AI) and promote business and trade ties, his office said on May 6, as Taipei seeks to bolster investment and see off the threat of tariffs. Goods from tech powerhouse Taiwan had been due to face US import tariffs of 32 per cent until US President Donald Trump paused the plan in April for 90 days. Taiwan has since begun tariff talks with the United States, and promised to purchase more US goods and invest more in the country as a way to seek more balanced trade. Taiwan's foreign ministry said that its minister, Mr Lin Chia-lung, would speak at a Taiwan-Texas AI summit in the state on May 9, and be accompanied by an industry delegation, including from the Taiwan Electrical and Electronic Manufacturers' Association. The ministry said the main purpose of the trip was to promote Taiwan President Lai Ching-te's roadmap to deepen Taiwan-US. ties and facilitate Taiwanese investment in the country. The ministry said it looked forward to Mr Lin's visit to Texas with the delegation to "deepen our mutually beneficial partnership with the United States and Texas in a number of economic and trade areas". Taiwanese contract electronics manufacturer Inventec in April agreed to invest up to US$85 million (S$109.94 million) to build manufacturing facilities in Texas. Chinese-claimed Taiwan does not have formal diplomatic ties with the United States, but the country is Taiwan's most important international backer and arms supplier. Despite the lack of formal relations, Taiwanese foreign ministers and other senior officials do on occasion visit the United States. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Free Malaysia Today
24-04-2025
- Business
- Free Malaysia Today
Taiwan plans US$12.6bil special budget for US tariffs impact
Taiwan had sought to avoid US President Donald Trump's threatened levies by pledging increased US investment, energy purchases and defence spending. (EPA Images pic) TAIPEI : Taiwan's cabinet announced today a planned special budget of up to NT$410 billion (US$12.6 billion) to boost security and the economy against the impact of new US tariffs. Taipei said it held its first tariff discussions with the US this month as President Lai Ching-te seeks to shield Taiwan's exporters from a proposed US tariff of 32%. US President Donald Trump has postponed punishing levies on multiple trade partners, including Taiwan, for three months after trillions of dollars were wiped off global markets. Trump has maintained a 10% blanket duty on most countries but paused plans for steeper measures, except for China. Taiwan's trade surplus with the US is the seventh highest of any country, reaching US$73.9 billion in 2024. Around 60% of its exports to the US are information and communications technology products, including semiconductors. Premier Cho Jung-tai said in a statement the special budget was in response to 'the impact from US tariff policy on our industries, export structure and overall employment market, as well as on social livelihood and prices'. 'It will be divided into four areas to support the industries: the employment market, public welfare and education, as well as strengthening resilience by enhancing coastal patrols and other defence facilities and equipment,' the cabinet said. 'A previously announced NT$88 billion assistance package for industries hit by the new tariffs will be covered by this planned budget, which requires parliamentary approval,' it said. Taiwan had sought to avoid Trump's threatened levies by pledging increased investment in the US, more purchases of US energy and greater defence spending. Taiwan's chipmaking giant TSMC also said last month it would invest US$100 billion in the US in what was hailed by Lai as a 'historic moment' for Taiwan-US relations.
New Straits Times
24-04-2025
- Business
- New Straits Times
Taiwan plans US$12.6bil special budget for US tariffs impact
TAIPEI: Taiwan's cabinet announced on Thursday a planned special budget of up to NT$410 billion (US$12.6 billion) to boost security and the economy against the impact of new US tariffs. Taipei said it held its first tariff discussions with the United States this month as President Lai Ching-te seeks to shield Taiwan's exporters from a proposed US tariff of 32 per cent. US President Donald Trump has postponed punishing levies on multiple trade partners, including Taiwan, for three months after trillions of dollars were wiped off global markets. Trump has maintained a 10 per cent blanket duty on most countries but paused plans for steeper measures, except for China. Taiwan's trade surplus with the United States is the seventh highest of any country, reaching US$73.9 billion in 2024. Around 60 per cent of its exports to the United States are information and communications technology products, including semiconductors. Premier Cho Jung-tai said in a statement the special budget was in response to "the impact from US tariff policy on our industries, export structure and overall employment market, as well as on social livelihood and prices". It will be divided into four areas to support the industries: the employment market, public welfare and education, as well as strengthening resilience by enhancing coastal patrols and other defence facilities and equipment, the cabinet said. A previously announced NT$88 billion assistance package for industries hit by the new tariffs will be covered by this planned budget, which requires parliamentary approval, it said. Taiwan had sought to avoid Trump's threatened levies by pledging increased investment in the United States, more purchases of US energy and greater defence spending. Taiwan's chipmaking giant TSMC also said last month it would invest US$100 billion in the United States in what was hailed by Lai as a "historic moment" for Taiwan-US relations.
Time of India
24-04-2025
- Business
- Time of India
Taiwan plans $12.6 bn special budget for US tariffs impact
Representative Image(AI) TAIPEI: Taiwan's cabinet announced on Thursday a planned special budget of up to NT$410 billion ($12.6 billion) to boost security and the economy against the impact of new US tariffs. Taipei said it held its first tariff discussions with the United States this month as President Lai Ching-te seeks to shield Taiwan's exporters from a proposed US tariff of 32 percent. US President Donald Trump has postponed punishing levies on multiple trade partners, including Taiwan, for three months after trillions of dollars were wiped off global markets. Trump has maintained a 10 percent blanket duty on most countries but paused plans for steeper measures, except for China. Taiwan's trade surplus with the United States is the seventh highest of any country, reaching $73.9 billion in 2024. Around 60 percent of its exports to the United States are information and communications technology products, including semiconductors. Premier Cho Jung-tai said in a statement the special budget was in response to "the impact from US tariff policy on our industries, export structure and overall employment market, as well as on social livelihood and prices". It will be divided into four areas to support the industries: the employment market, public welfare and education, as well as strengthening resilience by enhancing coastal patrols and other defence facilities and equipment, the cabinet said. A previously announced NT$88 billion assistance package for industries hit by the new tariffs will be covered by this planned budget, which requires parliamentary approval, it said. Taiwan had sought to avoid Trump's threatened levies by pledging increased investment in the United States, more purchases of US energy and greater defence spending. Taiwan's chipmaking giant TSMC also said last month it would invest $100 billion in the United States in what was hailed by Lai as a "historic moment" for Taiwan-US relations.
