Premier Cho Jung-tai said April 10 that the government is fully committed to assisting local export supply chains to maintain Taiwan industries’ global competitiveness in response to U.S. tariffs.
Cho made the remarks during a meeting with business representatives in Taoyuan City, northern Taiwan. It was the first of several such events scheduled around the country to better understand the needs of local firms and ensure effective implementation of related policy measures.
According to the premier, the Cabinet will announce specific measures April 14 and will do its best to conduct direct and effective negotiations with the U.S. in the following 90 days. The supportive plan covers nine key areas and comprises 20 measures, with a total budget of NT$88 billion (US$2.7 billion) to stabilize the local economy, maintain steady industrial development and secure livelihoods.
Cho said the government has been responding to the changing global economic landscape since last year. He cited the establishment of an economic diplomacy task force under its Economic Development Commission, as well as a task force led by Vice Premier Cheng Li-chiun to strengthen cooperation with the US.
Cho said the government is also working hard to promote social and economic stability and resilience, and has directed the Ministry of Finance and Financial Supervisory Commission to implement necessary measures accordingly.
The premier stressed that economic security is national security, adding that securing balanced and steady trade relations with partner countries is vital to maintaining Taiwan’s key position in the global supply chain. He called on the private sector to work hand in hand with the government, so that the country can weather the storm and find new opportunities for growth. (SFC-E)
Write to Taiwan Today at ttonline@mofa.gov.tw