Business group calls for impact studies before tariffs

TAIPEI (TVBS News) — President Donald Trump's implementation of reciprocal tariffs on Wednesday (April 9) has triggered an immediate response from the American business community in Taiwan. The American Chamber of Commerce in Taiwan (AmCham Taiwan, 台灣美國商會), representing U.S. business interests on the island, issued a statement calling for substantive consultations and thorough impact assessments before such significant trade policy decisions are finalized and enacted.

The chamber emphasized that transparent bilateral trade policy negotiations between the United States and Taiwan are essential to minimize market disruptions and preserve economic stability in both economies. AmCham Taiwan further argued that such collaborative negotiation approaches serve to safeguard America's international reputation in global trading markets, fostering crucial trust relationships among diverse stakeholders, government entities, and international trade partners during periods of policy transition.

The business organization highlighted its decade-long advocacy for Good Regulatory Practices (GRP), particularly emphasizing the critical importance of providing advance notice and meaningful opportunities for stakeholder input before implementing major policy changes. AmCham Taiwan specifically referenced the U.S.-Taiwan Initiative on 21st Century Trade (台美21世紀貿易倡議), a framework that came into effect in 2024, as a formal commitment by both governments to uphold principles of transparency, public consultation, and sound regulatory practices in their economic relationship.

Dan Silver, the chairman of AmCham Taiwan, emphasized that both American and Taiwanese authorities have previously acknowledged the value of stakeholder engagement as an effective mechanism for crafting more robust and balanced economic policies. Silver reaffirmed the chamber's unwavering commitment to promoting and supporting Good Regulatory Practices principles throughout the bilateral relationship, positioning the business group as a constructive voice in ongoing trade discussions.

Furthermore, the chamber pointedly observed that recent developments in global tariff policy implementation underscore the practical importance of adhering to GRP principles. While acknowledging that reciprocal tariffs are designed to address persistent trade imbalances, AmCham Taiwan expressed concern that the abbreviated "lead time" provided over the past week has created significant operational challenges for businesses and market stability. Silver characterized trade imbalances as complex structural issues, suggesting that major policy reforms would be substantially strengthened by incorporating feedback from international business communities, ultimately enhancing America's leadership position in the global economy.

The business organization concluded its statement by expressing strong eagerness to collaborate constructively with policymakers in both Washington and Taipei, offering its expertise and perspective to help develop and implement open, predictable, and mutually beneficial trade policies that could serve the interests of businesses and consumers in both economies. This collaborative approach, AmCham Taiwan suggested, would align with the established diplomatic and economic partnership between the United States and Taiwan.