Taiwan is among the first batch of countries set to enter into tariff negotiations with the US, President William Lai (賴清德) said today.
"Taiwan is now included in the first list of negotiations" with the US, Lai told representatives from the machinery industry in Taichung, without providing further details.
The president added that the government would be fully prepared for talks with the US to protect Taiwan's national interests and the future development of Taiwanese industries.
Photo: Liao Yao-tung, Taipei Times
Lai called for unity across both the public and private sectors, as well as between the ruling and opposition parties, in the face of the US tariff shocks, noting that Taiwan could overcome the challenge and "turn crisis into opportunities" through collective efforts.
However, it remains unclear when such talks would take place and who would actually be involved. The Cabinet said yesterday the government would notify the public about more details in due time.
Today's meeting came after Lai had two discussions last weekend with representatives from information and communications technology, non-tech industries and small and medium-sized enterprises at the presidential residence.
The meeting moved behind closed doors after Lai and Taiwan Association of Machinery Industry (TAMI) Chairman David Chuang (莊大立) delivered their remarks.
Chuang expressed concern that the 32-percent duties Taiwan was set to face before they were postponed would not only directly impact Taiwanese machinery exports to the US but also undermine their global competitiveness.
TAMI issued a statement yesterday urging the government to negotiate with the US for a lower tariff rate for Taiwanese machinery products, particularly for a rate lower than their main competitors from Japan and South Korea.
The association, which represents more than 2,700 company members in Taiwan, also called for "interest-free loans" for machinery businesses that have already begun to feel the sting of the tariffs.
Trump's "reciprocal tariffs" on imports from dozens of countries — including a blanket 32-percent levy on most Taiwanese goods — were scheduled to take effect on Wednesday.
On Wednesday afternoon (Washington time), however, Trump announced a 90-day pause on the new measures, with reduced 10-percent duties to be applied instead to all countries except China.
Chuang said companies in the machinery sector would work with the government to address the issue of transshipments, a practice where goods are routed through a third country from their country of origin to benefit from lower duties imposed on that third country.
At the same time, Chuang continued, Taiwanese suppliers are willing to collaborate with US partners in manufacturing machine tools, adding that "we will be a good partner."
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