financetom
Business
financetom
/
Business
/
Taiwan plans response to Trump tariffs with energy imports, tariff cuts
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Taiwan plans response to Trump tariffs with energy imports, tariff cuts
Mar 26, 2025 10:50 PM

TAIPEI (Reuters) - Taiwan is considering a variety of responses to potential new tariffs from the United States including increasing energy imports and reducing the island's own tariffs to balance bilateral trade, government officials said on Thursday.

Trump administration officials, including Treasury Secretary Scott Bessent, have said that much of the reciprocal U.S. tariff focus will be on 15 countries that have the highest trade surpluses with the United States.

Bessent has referred to the countries as the "Dirty 15" but has not named them.

According to U.S. Census Bureau data, Taiwan is one of the 15, along with countries such as China and South Korea plus the European Union.

The tariffs are due to be announced on April 2.

Taking lawmakers questions in parliament, Taiwan's deputy economy minister Cynthia Kiang said a specially created trade task force had "preliminary plans" to increase energy product imports from the United States, to boost energy cooperation with the U.S. and enhance natural gas supply stability.

Taiwanese state energy firm CPC Corp earlier this month signed an agreement with Alaska Gasline Development Corp to buy liquefied natural gas and invest in the project, a move Taiwan's President Lai Ching-te said would ensure the island's energy security.

Kiang, when asked if car tariffs would be reduced given Trump's announcement of a 25% tariff on auto imports, said that the task force had "already drafted relevant plans."

Speaking at the same parliament committee session, Taiwan Finance Minister Chuang Tsui-yun said that import tariffs on health supplements and other products would also be reduced.

Taiwan's central bank on Wednesday defended the island's trade and currency record, saying the high current account surplus was a structural problem and Washington understood that.

Taiwan runs a large trade surplus with the United States, which surged 83% last year, with the island's exports to the U.S. hitting a record $111.4 billion, driven by demand for high-tech products such as semiconductors, a sector Taiwan dominates.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Yiren Digital's Q1 Earnings, Revenue Increase
Yiren Digital's Q1 Earnings, Revenue Increase
Jun 21, 2024
06:38 AM EDT, 06/21/2024 (MT Newswires) -- Yiren Digital ( YRD ) reported Q1 earnings Friday of 5.52 Chinese renminbi ($0.76) per diluted share, up from 4.74 renminbi a year earlier. Revenue for the quarter ended March 31 was 1.38 billion renminbi, compared with 986.3 million renminbi a year earlier. Analysts' estimates were not readily available for comparison. The company...
China asks Visa, Mastercard to cut card fees, Bloomberg News reports
China asks Visa, Mastercard to cut card fees, Bloomberg News reports
Jun 21, 2024
June 21 (Reuters) - China is pushing for Visa and Mastercard ( MA ) to lower their bank card transaction fees in the country to encourage spending by foreign visitors, Bloomberg News reported on Friday, citing a person familiar with the matter. The Payment & Clearing Association of China is proposing lowering the fees charged on foreign card transactions to...
JinkoSolar to Provide Large-Scale Battery Storage to Power Athens Airport
JinkoSolar to Provide Large-Scale Battery Storage to Power Athens Airport
Jun 21, 2024
06:45 AM EDT, 06/21/2024 (MT Newswires) -- JinkoSolar Holding ( JKS ) said Friday it has entered into a heads-of-terms agreement with Greek construction firm Kiefer Tek to sell its large-scale battery storage product SunTera as a power supply for Athens International Airport. Once completed, Jinkolsolar said Athens International will be the largest self-consumption system in an airport facility worldwide...
Martello Technologies Group Fiscal Q4 Loss Widens, Sales Drop 5%; Names Interim CFO
Martello Technologies Group Fiscal Q4 Loss Widens, Sales Drop 5%; Names Interim CFO
Jun 21, 2024
06:47 AM EDT, 06/21/2024 (MT Newswires) -- Martello Technologies Group ( DRKOF ) , a software maker, late on Thursday reported a wider net loss in the fiscal fourth quarter as sales dropped 5%. The company reported a fiscal fourth-quarter net loss of $1.7 million, compared with a loss of $1.3 million a year earlier. Sales for the quarter ended...
Copyright 2023-2026 - www.financetom.com All Rights Reserved