Taiwan to Support Businesses Relocating to U.S. as Tariff Hikes Loom
Taiwan’s economic affairs ministry said it will assist Taiwanese companies that could be affected by potential US tariffs.
Taiwan is a key producer of cutting-edge semiconductor chips and electronics. Many of its companies have factories in countries — including Mexico, Canada and China — that could be hit by fresh tariffs. US President Donald Trump has indicated he would “pause” tariffs on Mexico and Canada after speaking with those countries’ leaders Monday.
In a statement issued on Monday before Trump’s latest trade update, the Taiwanese ministry said it had activated “corresponding measures” to help local companies that are looking to adjust their investment strategies, including setting up new factories in the United States.
Among the new measures is a hotline for affected companies, along with information for firms planning to relocate to the United States. This includes guidance on local laws in different states and assistance in finding business partners.
Additionally, a new investment and trade center will be set up in the US to help Taiwanese firms assess the investment environment in each US state and adapt to supply chain changes.
“The Ministry of Economic Affairs will continue to closely monitor changes in international trade … to help companies identify the best strategies for adapting to these changes,” the statement added.
Last week, Taiwan’s Premier Cho Jung-tai said authorities would look at helping its domestic industry following President Trump’s threats to put new tariffs on imported semiconductor chips, of which Taiwan is a major global supplier.
