Taiwan's Bold Response to U.S. Tariffs: A Financial Shield for Industry

Taiwan commits T$288 billion to support industries impacted by U.S. tariffs. This includes T$88 billion for immediate company relief and T$200 billion for trade financing, while emphasizing the importance of technology exports unaffected by tariffs.

Taiwan's government unveiled a substantial financial package of at least T$288 billion on Friday to mitigate the effects of U.S. import tariffs on local businesses and industries, with measures like export credits being a key component.

The U.S., under President Donald Trump, has imposed widespread import tariffs that significantly impact Taiwan, among other trading partners. The tariffs exclude semiconductors, a crucial Taiwanese export, providing some relief to the island's economy.

During a press conference in Taipei, Premier Cho Jung-tai criticized the tariffs as unfair and announced T$88 billion to aid impacted companies, while Finance Minister Chuang Tsui-yun detailed T$200 billion in trade financing, steps occurring ahead of the Monday reopening of financial markets in Taiwan following a holiday closure.

(With inputs from agencies.)