Taiwan unveils $2.7 billion in help for companies to deal with US tariffs

Important legal information about the email you will be sending. By using this service, you agree to input your real email address and only send it to people you know. It is a violation of law in some jurisdictions to falsely identify yourself in an email. All information you provide will be used by Fidelity solely for the purpose of sending the email on your behalf. The subject line of the email you send will be "Fidelity.com: "

Taiwan unveils $2.7 billion in help for companies to deal with US tariffs

, Reuters - 8:39 AM ET 4/4/2025 Technology

Taiwan faces 32% tariff from United States

Semiconductors, a major Taiwan export, not yet included

Taiwan to discuss tariffs with United States

TAIPEI, April 4 (Reuters) - Taiwan's government announced T$88 billion ($2.67 billion) worth of financial help on Friday for companies and industries to deal with the impact of U.S. tariffs.

U.S. President Donald Trump on Wednesday announced across-the-board import tariffs, with much higher duties for dozens of trading partners including Taiwan, which runs a large trade surplus with the United States and is facing a 32% duty on its products.

The U.S. tariffs, however, do not apply to semiconductors, a major Taiwanese export.

Speaking at a news conference in Taipei, Premier Cho Jung-tai reiterated that the government regarded the tariffs as unreasonable, saying it would provide T$88 billion to help companies affected, with the electronics and steel sectors among those worst impacted.

"The government's responsibility is to continue to manage and control the risk and understand the needs of industry," he said.

Cho added that he had asked Taiwan's Office of Trade Negotiations to talk to the United States to try and lessen the impact of the tariffs.

Finance Minister Chuang Tsui-yun, speaking next to Cho, said the government would also provide an interest rate reduction on loans for exporters worth T$200 billion.

The announcements were made before financial markets re-open in Taiwan on Monday, having been closed on Thursday and Friday for a holiday.

Taiwan, for whom the United States is the island's most important international backer in the face of mounting Chinese pressure over Beijing's sovereignty claims, has not announced any retaliatory tariffs.

Taiwanese government officials have repeatedly said trade with the U.S. has been skewed by strong demand for Taiwanese technology products, such as advanced semiconductors - a sector dominated by the island, home to the world's largest contract chipmaker TSMC.

TSMC, which is a key manufacturing partner to U.S. companies Nvidia ( NVDA ), Apple ( AAPL ) and Qualcomm ( QCOM ), last month announced a new $100 billion investment in the United States.

($1 = 32.9730 Taiwan dollars) ($1 = 32.9990 Taiwan dollars) (Reporting by Ben Blanchard; Editing by Mark Heinrich, Jan Harvey, Elaine Hardcastle)

(c) Reuters 2025. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.