Taiwan will support companies that plan to relocate to the United States, including helping them find partners, the economy ministry said on Monday, outlining assistance it will offer after U.S. President Donald Trump’s new tariffs.
Trump’s orders for additional levies of 25% on imports from Mexico and most goods from Canada, as well as 10% on goods from China, were light on detail. But they kick in on Tuesday and have jolted markets as investors feared a broader trade war could severely hurt global growth.
Taiwan, whose companies are key producers of tech products such as semiconductors and electronics parts, is vulnerable given that many have factories in both Mexico and China and because Trump has also threatened tariffs on imported chips.
Taiwan’s economy ministry, in a statement detailing measures to help companies affected by the new U.S. tariffs, said it will provide information for firms that want to relocate, such as possible U.S. states to invest in, local laws and assistance in finding partners.
The government’s Industrial Technology Research Institute branches in North America will also actively promote research and development and manufacturing cooperation between Taiwanese and U.S. companies, it added.
The ministry said it will continue to pay close attention to changes in international trade and maintain communication with companies to provide them with “the most timely support and assistance to ensure that they find the best strategies to cope with the changes”.
