Taiwan to Assist Companies Affected by US Tariffs
Taipei: Taiwan's Ministry of Economic Affairs has announced measures to support businesses seeking to relocate to the United States amid new tariffs imposed by President Donald Trump.
The ministry will provide relocation-related information, including potential investment destinations, local regulations, and partner matching services. Additionally, the Industrial Technology Research Institute's North American branches will foster research and development collaboration between Taiwanese and US enterprises.
The government emphasized its commitment to monitoring international trade developments and communicating with companies to offer timely support and assistance.
Taiwan's economy is particularly vulnerable to the tariffs due to its extensive manufacturing presence in Mexico and China. The island nation also faces threats from China's military and political actions aimed at asserting its sovereignty claim.
President Tsai Ing-wen reaffirmed the government's support for companies transitioning away from China. To mitigate business costs, the government will manage interest rates, foreign exchange rates, and inflation.
TSMC, a leading chipmaker, has invested $65 billion in a semiconductor manufacturing facility in Arizona. Shares of Taiwanese tech companies with operations in Mexico declined sharply on Monday, while Taiwan's benchmark index dropped 3.5%.