Taiwan Pushes for Tariff Reductions Amid US Trade Realignment
President Lai Urges Swift Budget Passage to Mitigate Economic Impact
President **Lai Ching-te** today declared Taiwan’s intent to vigorously negotiate lower tariffs with the United States, emphasizing that the current rates are not final. He urged lawmakers to expedite a special budget to support industries and citizens affected by the evolving trade landscape.
Dynamic Tariffs Require Proactive Response
Speaking at a Democratic Progressive Party meeting, President **Lai Ching-te** acknowledged the “temporary tax rate” imposed by the US. He confirmed that technical consultations have concluded, with ongoing negotiations aiming for more favorable terms for Taiwan. The administration is committed to reducing tariffs while safeguarding public health and national industrial interests.
โThe tariffs raised by the US are a dynamic process, and Taiwan will try its best to achieve tariff reduction under the principles of protecting the health of the people and industrial interests of the country,โ **Lai Ching-te** stated.
President **Lai Ching-te** stressed that regardless of the final tariff figures, new challenges are inevitable for Taiwanese businesses and individuals. To address this, the Executive Yuan plans to propose a special budget, framed under regulations designed to bolster economic resilience and national security in response to international shifts.
He underscored the importance of legislative support for the proposed budget, highlighting its crucial role in enabling timely assistance. The government is also preparing immediate measures to support those sectors and citizens most likely to be impacted before the budget’s formal approval.
Economic Resilience a National Priority
Taiwanโs proactive stance mirrors efforts by other nations to adapt to shifting global trade dynamics. For instance, a 2023 report by the World Trade Organization indicated that diversifying trade partnerships and investing in domestic industrial innovation are key strategies for countries facing sudden tariff changes (WTO World Trade Statistics 2023).
Legislative Support Crucial for Economic Aid
President **Lai**โs appeal to the Legislative Yuan underscores the urgency of the situation. The administration hopes for bipartisan backing to ensure the rapid implementation of the special budget, providing much-needed relief and strategic support to Taiwan’s economy and its people as they navigate these new trade conditions.
