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2 months ago
23
Source: AFP
US President Donald Trump's tariffs were "highly unreasonable" and the authorities planned to commencement "serious negotiations" with Washington, Taipei said Thursday.
Taiwan had sought to debar Trump's threatened levies by pledging accrued concern successful the United States, much purchases of US energy, and greater defence spending.
But Trump's sweeping caller tariffs announced overnight included a hefty 32 percent taxation connected Taiwanese imports, which Taipei described arsenic "unfair".
"The Executive Yuan recovered the determination highly unreasonable and profoundly regretted it, and volition initiate superior negotiations with the United States," furniture spokeswoman Michelle Lee said.
Taiwan's commercialized surplus with the United States is the seventh highest of immoderate country, reaching US$73.9 cardinal successful 2024.
Around 60 percent of Taiwan's exports to the United States are accusation and communications technology products, oregon ICT, which includes semiconductor chips.
Lee said the surplus reflected soaring US request for Taiwan's semiconductors and different tech products that was further driven by the tariffs and export controls targeting China that Trump imposed during his archetypal term.
"The surge successful US request for Taiwan's ICT products reflects Taiwan's important publication to the US economy and nationalist security, yet Taiwan is present being deed with precocious tariffs," Lee said.
"The projected tariff does not accurately bespeak the existent authorities of Taiwan-US commercialized relations and is unfair to Taiwan."
Semiconductor chips, a assemblage that Taiwan dominates and has been a root of friction betwixt Washington and Taipei, were excluded from the levies.
But analysts warned that tariffs connected components would person a knock-on effect for the captious spot industry that is the lifeblood of the planetary economy.
Taiwan had drawn up plans to assistance section industries deed by imaginable US tariffs, Minister of Economic Affairs Kuo Jyh-huei said Tuesday, up of Trump's announcement.
"Our countermeasures person been assessed and analysed, for example, however we would respond to a 10 percent oregon however we would respond to a 25 percent tariff," Kuo said.
There had been hopes that Taiwan chipmaking titan TSMC's program to put $100 cardinal successful the United States would shield the land from Trump's tariffs.
Taiwan has besides pledged to summation concern successful the United States, bargain liquefied earthy state from the US authorities of Alaska, and rise its defence spending to much than 3 percent of GDP.
Trump has accused Taiwan of stealing the US spot manufacture and precocious threatened to enforce tariffs of up to 100 percent connected semiconductor imports from there.
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Source: AFP
