TAIPEI (TVBS News) — Taiwan's Premier Cho Jung-tai (卓榮泰) summoned key legislative leaders on Monday (April 7) to formulate the island's strategic response to U.S. President Donald Trump's newly imposed 32% reciprocal tariff measure. During the high-stakes meeting, Premier Cho called for unified bipartisan backing from the Legislative Yuan (Taiwan's parliament) for the Executive Yuan's (Taiwan's cabinet) comprehensive initiatives designed to shield the nation's economy and industrial sectors from potential disruption.
Executive Yuan spokesperson Michelle Lee (李慧芝) revealed details of Premier Cho's ambitious "9 areas, 20 measures" economic safeguard plan, backed by a substantial NT$88 billion (approximately US$2.67 billion) budget allocation. The comprehensive strategy aims to cushion Taiwanese businesses and workers from the anticipated economic shockwaves of the U.S. tariffs. Lee emphasized that government officials had conducted thorough assessments of both broad economic and sector-specific impacts prior to Trump's announcement, acknowledging that the unexpectedly steep 32% rate necessitated more extensive countermeasures than initially anticipated.
During the closed-door session, Premier Cho underscored the administration's unwavering commitment to pursuing diplomatic negotiations on both tariff and non-tariff measures with Washington, while simultaneously expanding domestic procurement initiatives and attracting new investment. He also stressed the importance of vigilant monitoring for potential market disruptions such as low-price dumping and illegal transshipment activities. The Premier has directed the National Development Council (NDC, 國發會), Taiwan's premier economic planning agency, to develop robust medium and long-term strategic frameworks, explicitly noting that legislative cooperation would be essential should legal amendments become necessary to implement these protective measures.
Lee further elaborated that the Executive Yuan intends to enhance and broaden existing support mechanisms, including streamlining bureaucratic processes for subsidy applications and relaxing certain regulatory restrictions for businesses impacted by the U.S. tariffs — all to be funded within the allocated NT$88 billion budget framework. In a gesture toward political unity during this economic challenge, Premier Cho formally pledged to honor the results of any cross-party negotiations within the Legislative Yuan and committed to delivering comprehensive progress reports to the legislature, as specifically requested by opposition party representatives.
On April 4, President Lai Ching-te (賴清德) voiced significant concern regarding the potential impact of the impending U.S. tariffs on Taiwan's workforce, particularly those employed in export-oriented industries. In response to these presidential concerns, the Ministry of Labor (MOL, 勞動部) has swiftly introduced a specialized employment support project designed to provide financial assistance and retraining opportunities for workers whose livelihoods may be jeopardized by the economic fallout from the trade tensions.
