Taiwanese leader Lai Ching-te said on Sunday (6/4) that Taipei has no intention of retaliating against the 32 percent tariffs on Taiwanese goods imposed by the United States, Focus Taiwan reported.
The developments come after US President Donald Trump on Wednesday announced sweeping tariffs ranging from 10 percent to 50 percent on imports from dozens of countries and economic regions, including US ally Taiwan, whose exports to the US will now be subject to an additional 32 percent tariff.
In a video, Lai acknowledged the “significant impact” the 32 percent tariffs would have on Taiwan’s economy, but urged people not to panic and stressed the country’s economic foundations remained strong.
“Taiwan has no plans to take retaliatory tariffs against the United States’ ‘reciprocal tariffs.’ Investment by Taiwanese companies in the U.S. will also continue without any changes, as long as it is in line with our national interests,” Lai Ching-te said.
To mitigate the impact of the tariffs, Lai Ching-te announced that his government had formed a negotiating team to begin formal discussions with the United States.
The leader also noted that his government would also support Taiwanese companies to increase their investments in the United States, particularly in sectors such as electronics, information and communications technology, petrochemicals and natural gas.
Source: Anadolu
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