Taiwan Seeks Resolution in Tariff Tussle with U.S.

Taiwan is actively engaging with the United States to mitigate the impact of a 32% tariff implemented by President Donald Trump. The island is proposing zero tariffs and increased investments in the U.S., while avoiding retaliation. Taiwan aims for swift negotiations to stabilize its stock market, recently affected by significant tariff-triggered declines.

Taiwan is making efforts to address the imposition of a 32% tariff by the United States, announced by President Donald Trump. A senior Taiwanese official revealed that Taiwan has initiated discussions with Washington, offering zero tariffs and increased investments as a gesture of goodwill. Despite the economic strain, Taiwan is avoiding retaliatory measures.

In a bid to resolve the issue, Taiwan's National Security Bureau Director-General Tsai Ming-yen confirmed strategic communications with U.S. counterparts. The government is preparing for comprehensive negotiations, hoping for a swift resolution to foster mutual economic benefits and ease trade tensions.

The tariff impact has been severe, with Taiwan's stock market experiencing a sharp decline, prompting the activation of a $15 billion stabilization fund. Key tech stocks, including TSMC and Foxconn, suffered significant losses. However, semiconductors remain exempt from the tariffs, providing some relief to the industry.

(With inputs from agencies.)