TAIPEI (Taiwan News) — Economics Minister Kuo Jyh-huei (郭智輝) on Thursday (Nov. 7) predicted that Trump's protectionist policy will more adversely impact Taiwanese businesspeople in China than those in Taiwan.

During a session of the Legislative Yuan's Economics Committee, KMT Legislator Yang Chiung-ying (楊瓊瓔) and DPP Legislators Chiu Yi-ying (邱議瑩) and Lin Tai-hua (林岱樺) asked Kuo about Trump's likely impact on Taiwan's economy, per Liberty Times. Kuo said Trump's long-standing unilateralism is bound to affect global free trade. 

Kuo said Trump plans to impose a 60% tariff on Chinese products, and a 10% to 20% tariff on products from Taiwan and other countries. "I think the biggest impact will be Taiwanese businesspeople in China," said Kuo.

When asked about the Ministry of Economic Affairs' plans for strengthening Taiwan's industries, Kuo said the ministry plans to help export industries leverage the market shift to become more competitive.

Yen Huai-Shing (顏慧欣), from the Office of Trade Negotiations, added that Taiwan and the US have longstanding commercial interactions. This includes bilateral cooperation platforms such as the US-Taiwan Initiative on 21st-Century Trade and Economic Prosperity Partnership Dialogue. 

Moving forward, Yen said his ministry would work with the Trump administration to maintain bilateral cooperation.