Taiwan's Strategic Economic Maneuver: $10 Billion Budget Plan

Taiwan's premier has proposed an additional $10 billion special budget to mitigate U.S. tariff impacts. This includes increased financial aid for businesses, job market stabilization, and electricity subsidies. The budget requires parliamentary approval, with ongoing talks with the U.S. focusing on reducing the trade surplus through increased imports of U.S. natural gas and oil.

Taiwan's government is ramping up its economic defense against U.S. tariffs by proposing a $10 billion special budget. Premier Cho Jung-tai outlined steps to bolster the economy, involving financial aid for businesses and measures to stabilize employment.

The plan, which expands the existing T$88 billion aid to T$410 billion, aims to provide robust financial support and electricity subsidies. However, the special budget faces potential hurdles in parliament, where opposition forces have previously slashed Taiwan's main budget.

Alongside budget efforts, Taiwan has initiated discussions with the U.S. to address the tariff issue, focusing on increased imports of American natural gas and oil to balance trade relations, according to President Lai Ching-te.

(With inputs from agencies.)