Taiwan Eyes U.S. Market Amid Trump's Tariff Pause

Taiwan aims to leverage the U.S. market following a 90-day tariff pause announced by U.S. President Donald Trump. Taiwan's Foreign Minister Lin Chia-lung expressed hopes for enhanced economic cooperation, while President Lai Ching-te considered a zero-tariff regime to further strengthen ties. Stock markets reacted positively to the news.

U.S. President Donald Trump announced a 90-day pause on most tariffs, offering an opportunity for enhanced dialogue. Taiwan's Foreign Minister Lin Chia-lung said on Thursday that the island plans to capitalize on the 'huge' U.S. market to achieve balanced trade.

In a surprising development, President Trump decided to temporarily reduce the heavy duties he recently imposed on multiple countries, boosting global stock markets. Taiwan, which faced a 32% tariff, saw its stock market stabilize, excluding its significant semiconductor sector.

President Lai Ching-te pledged to pursue a zero-tariff arrangement with the U.S., committing to non-retaliation. Despite the gains, Taiwan's central bank governor Yang Chin-long cautioned about the lingering uncertainties surrounding Trump's tariff strategy.

(With inputs from agencies.)