Taipei:
Taiwan President Lai Ching-Te Met Tech Executives on Saturday to discuss how to respond to new US invoices, promises to secure Taiwan’s global competitiveness and secure the interests of the island.
President Donald Trump announced on Wednesday invoices of imports throughout Wednesday with much higher duties for dozens of commercial partners, including Taiwan, which manages a large trade surplus with the United States and facing a 32% task.
However, US invoices do not apply to semiconductors, a large export of Taiwan.
Lai met with executives in his official residence to discuss the response to the “global economic and commercial challenges caused by mutual pricing policy,” Karen Kuo spokesman said in a statement. He did not say which companies were present, only that there were several representatives from information and communication technology or ICT, the industry.
Lai “hopes to give industry the most support, to stabilize the financial situation, to ensure the global competitiveness of the Taiwan industry, and to secure our country’s national interests and the continuing steady progress of our economy,” Kuo said.
Taiwan hosts TSMC, the world’s largest chipmaker and an important supplier to companies such as Apple and Nvidia.
Taiwan’s mass media reported that participants at the LAI meeting included TSMC Deputy Chief Executive Officer, who is also president of the Taiwan Semiconductor Industry Union and Young Liu, president of the main supplier of Apple Foxconn.
TSMC did not immediately respond to a request to comment on whether he attended the meeting. TSMC is in a quiet period before the first quarter announcement on April 17.
Foxconn also did not respond immediately to a request for comments.
On Friday, the Taiwan government said it would provide $ 88 billion ($ 2.67 billion) in financial aid for companies and industries to deal with the impact of US invoices.
Taiwan, who says invoices are irrational, said she would discuss them with the United States and has not announced any retaliation.
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