TAIPEI (Taiwan News) — President Lai Ching-te (賴清德) addressed US President Donald Trump's new reciprocal tariffs on Thursday, saying they do not reflect the highly complementary trade relationship between Taiwan and the US.

Trump’s policy applies tariffs based on the rates foreign countries levy on US goods, with the US imposing about half that rate in return. According to the data Trump presented, Taiwan imposes a 64% tariff on US goods, leading the US to impose a 32% tariff on Taiwanese exports, per CNA.

Lai convened a meeting on Thursday with Vice President Hsiao Bi-khim (蕭美琴), Premier Cho Jung-tai (卓榮泰), Vice Premier Cheng Li-chun (鄭麗君), and national security and economic officials to assess Taiwan’s inclusion in the policy.

Cho and his team assessed the tariffs' implications and measures to support industries and maintain financial stability. Lai said the government aims to minimize economic disruptions while ensuring Taiwan remains competitive in global markets.

Lai noted that Taiwan’s trade surplus with the US stemmed from its alignment with previous US technology policies, which increased demand for Taiwanese ICT (information and communication technology) products. He said Trump used this surplus to justify the high tariffs.

Cabinet sources said the government initially calculated the tariffs’ impact based on a 10% base rate, with additional rates for various industries and countries. While the semiconductor industry is exempt, the broader impact on Taiwan's industrial chain is substantial, per CNA.

Lai instructed Cho to explain the government’s response to the public. He also directed government agencies to engage in discussions with US officials to protect Taiwan’s trade interests.