Taipei (Reuters) – The Taiwanese government announced on Friday financial assistance of at least 288 billion Taiwanese dollars (8 billion euros) to companies and industries, including large export credits, to deal with the impact of American customs duties.
US President Donald Trump announced widespread customs duties on Wednesday with higher samples for dozens of business partners, including Taiwan, who records a large trade surplus with the United States and will be subject to a rate of 32%.
However, American customs duties do not apply to semiconductors, one of the main Taiwanese export products.
At a press conference in Taipei, Prime Minister Cho Jung-Tai reaffirmed that the government considered these customs rights as unreasonable, announcing that it would unlock Taiwanese dollars to help the companies concerned.
Finance Minister Chuang Tsui-Yun, speaking alongside him, said the government would also provide 200 billion Taiwanese dollars to finance exporters.
These announcements intervene before the reopening Monday of financial markets in Taiwan, closed due to vacation Thursday and Friday.
Representatives of the Taiwanese government have repeatedly declared that trade with the United States was distorted by the high demand for technological products such as advanced semiconductors-a sector dominated by the island, where the main manufacturer of flea, TSMC is located.
TSMC announced last month a new investment of $ 100 billion in the United States.
(Ben Blanchard report, Benjamin Mallet, edited by Augustin Turpin)
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