TAIPEI (TVBS News) — Taiwan's Minister of Economic Affairs J.W. Kuo (郭智輝) expressed concerns on Thursday (Nov. 7) over Donald Trump's proposed 60% tariff on Chinese imports, explaining that this could significantly impact Taiwanese businesses operating in China. Trump's victory over Democratic candidate Kamala Harris in the U.S. presidential election has sparked widespread discussions about potential economic shifts.
Kuo noted that Trump's plan to impose a 10% tariff on global imports would not severely affect Taiwan, adding that the Ministry of Economic Affairs (MOEA, 經濟部) has prepared various strategies to adapt to potential changes in U.S. economic policies. Kuo urged the public to remain calm, assuring them of the government's readiness to handle the situation.
Media outlets have speculated whether Trump's return to the White House might accelerate the repatriation of Taiwanese businesses from China. Kuo agreed with this perspective and promoted the policy of leading Taiwan's manufacturing industry to invest and expand markets overseas to facilitate such moves.
Addressing Trump's past criticisms that Taiwan had taken over the U.S. chip industry, Kuo emphasized that the beneficiaries of the U.S. CHIPS Act include not only Taiwan Semiconductor Manufacturing Company (TSMC, 台積電) but also Intel, Texas Instruments, and Samsung US.
As Taiwan braces for potential economic impacts from Trump's policies, Kuo's reassurances and strategic plans aim to mitigate any adverse effects.
