Taiwan’s President Applauds the First Phase of US Tariff Talks’ Smooth Start

Taiwan-US tariff discussions, which aim to strengthen trade links and increase economic resilience, started off smoothly, according to President Lai Ching-te.

Lai Ching-te, the president of Taiwan, declared Monday that the initial round of tariff negotiations with the US had proceeded “smoothly.” He expressed optimism that the process would lead to a stronger trade relationship under what he called a “Taiwan plus one” model, which refers to greater cooperation between Taiwan and the US.

Speaking to members of university alumni at the presidential office in Taipei, Lai said Taiwan has a track record of overcoming economic difficulties and will take use of this opportunity to rethink its approach to international trade. According to a statement from his office, Lai stated, “Taiwan has begun negotiations with the United States, and the first phase of the negotiations went smoothly.”

The conversations come after the Trump administration’s earlier plans to levy a 32% tariff on Taiwanese exports were put on hold to allow for negotiations. A vital link in the global tech supply chain, Taiwan is home to significant semiconductor companies like TSMC, the biggest contract chipmaker in the world.

Lai reiterated his government’s commitment to pursuing a zero-tariff agreement with the US and boosting bilateral investment and trade, in keeping with Taiwan’s strategic move away from economic reliance on China. The expanding commercial links between the two economies were highlighted by TSMC’s recent announcement of an extra $100 billion investment in the US.

Additionally, Taiwan is constantly looking to expand its commercial alliances. Lai reaffirmed Taiwan’s desire to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and pointed out that Taiwan has been establishing trade and investment protection agreements with nations including the United Kingdom and Canada.

Lai continued, “We can enable Taiwanese goods to be sold globally by resolving trade barriers multilaterally,” establishing Taiwan as a proactive and robust international trading partner in the face of changing geopolitical conditions.