Taiwan's Stock Market Turmoil Sparks Economic Anxiety Amid U.S. Tariffs

Taiwan's stock market suffered a record 10% plunge after the U.S. imposed tariffs. President Lai Ching-te vowed to enhance trade relations with the U.S. Taiwan's economy, reliant on global electronics, faces challenges despite government support measures. Confidence in the market and future recovery remains fragile.

Taiwan's stock market experienced an unprecedented drop of nearly 10% in a single day following the announcement of U.S. tariffs. This marks the largest one-day percentage decrease ever recorded for the country.

In response to the tariffs, which impose a 32% duty specifically on Taiwan, President Lai Ching-te expressed intentions to foster a closer economic partnership with the United States. Despite calls for zero-tariff trade agreements, Taiwan's critical semiconductor industry remains unaffected by the current tariffs.

However, significant pressure looms over Taiwan's trade-dependent economy, especially given its role in the global electronics supply chain. Major companies such as TSMC and Foxconn saw their shares slide almost 10%, instigating market regulation intervention.

(With inputs from agencies.)