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Taiwan has sent a delegation of high-ranking officials to Washington to discuss possible tariffs that former US President Donald Trump could impose if he returns to power. This was announced on Saturday by Taiwan’s Minister for Economic Affairs Kuo Jihuei, Reuters reports.
Of particular concern are potential duties on imported semiconductors, which could seriously affect the technology sector in Taiwan, home to TSMC, the world’s largest contract chipmaker.
Trump is preparing for major trade changes
During last year’s election campaign, Trump accused Taiwan of “stealing” American semiconductor business. On Friday, he said he plans to announce new tariffs on “many economies” by Monday or Tuesday. This will be a major escalation of his intentions to reshape global trade relations in favour of the US.
Taiwan’s Minister of Economic Affairs confirmed that the government is already preparing for the possible introduction of duties, but has not yet disclosed details. At the same time, the deputy minister and the head of the relevant department were sent to Washington to explain the situation to the Trump administration.
“Taiwan is the best partner of the United States,” Kuo said, adding that cooperation between Taipei and Washington in the semiconductor industry is beneficial for both sides.
Trade balance and strategic decisions
Taiwan has a significant trade surplus with the United States. Last year alone, it grew by 83%, reaching a record $74 billion. At the same time, the island’s total exports to the US reached $111.4 billion due to strong demand for semiconductors and other technology products.
Kuo also noted that Taiwan could follow Japan’s lead and increase imports of US energy resources. This could help to reduce the trade imbalance and avoid harsh customs restrictions.
On Friday, Trump announced that Japan would soon start importing record volumes of liquefied natural gas (LNG) from the US. Whether Taiwan is ready to take a similar step remains an open question.
