Taiwan Open to US Tariff Talks Amid Market Jitters

Taiwan is ready for tariff negotiations with the US, according to Foreign Minister Lin Chia-lung. The announcement came after Taiwan's stock market suffered major losses, fueled by trade concerns and a 32% US tariff on its semiconductor exports. Stocks began recovering as talks were proposed.

Taiwan's Foreign Minister Lin Chia-lung announced on Tuesday that the island nation is prepared for tariff negotiations with the United States at any time. This statement follows a significant downturn in Taiwan's stock market driven by trade-related concerns.

The United States had imposed a hefty 32% tariff on imports from Taiwan, largely aimed at the country's semiconductor industry. President Donald Trump pointed out Taiwan as having one of the largest trade surpluses with the US. On the sidelines of parliament, Lin expressed Taiwan's readiness to address a broad range of issues with the US, including investments and non-tariff barriers.

The announcement came as Taiwan's benchmark stock index, which suffered a historic 10% drop on Monday, began recovering by about 3% by Tuesday morning. TSMC, the world's leading contract chipmaker, also saw its shares dip by around 1% after the initial drop.

(With inputs from agencies.)