Premier Cho Jung-tai received a delegation from the U.S.-Taiwan Business Council Jan. 27 in Taipei City and reaffirmed commitment to working with the U.S. to build a robust democratic supply chain.
According to the Executive Yuan, the delegation was led by Keith Krach and Rupert Hammond-Chambers, the council’s chair and president, respectively, and included business representatives from the consumer products, defense, finance and semiconductor sectors, among others.
Cho said the two sides recently concluded a memorandum of understanding on investment that set the tariffs on Taiwanese goods at 15 percent and granted semiconductors and related products from Taiwan most-favored nation status under Section 232 of the U.S. Trade Expansion Act.
Taiwan is eager to leverage its knowledge and experience to help create industrial clusters in the U.S. and ensure long-term investment following the “Taiwan Model,” the premier said, adding that such commitment underscores Taiwan’s role as an indispensable and strategic partner in the global democratic supply chain.
Cho said Taiwan is prioritizing development of artificial intelligence under its Ten Major AI Infrastructure Projects initiative, and added that he hoped to see dialogue between the U.S. and Taiwan to enhance supply chain cooperation as the U.S. implements its own action plan for AI.
In response, Krach praised the impressive progress in the two-way ties in the past five years, citing as examples the bilateral Economic Prosperity Partnership Dialogue since 2020 and the Science and Technology Agreement, as well as the US$12 billion investment in the U.S. announced in May 2020 by Taiwan Semiconductor Manufacturing Co.
As the U.S. celebrates its 250th anniversary, Washington also sees Taiwan as a beacon of freedom, democracy and courage, Krach said. Given these shared values, the U.S. will continue to be a reliable and supportive partner of Taiwan, he added. (SFC-E)
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