Taiwan buys more US goods following Trump’s 32% tariff threat
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Taiwan’s President Lai ching-te Following the threat of a 32% tariff from President Donald Trump, his country announced Wednesday that it will begin purchasing more US goods.
Rye made the announcement this week, hosting a US Congressional delegation. R-Ark, chairman of the House Committee on Natural Resources. Rep. Bruce Westerman led the first delegates of two US delegations Visit Taiwan This week, Sen. Tammy Duckworth was on D-Ill and landed in the country with another group on Wednesday.
“Looking ahead, as the world’s landscape changes rapidly, Taiwan will continue to increase its purchases from the United States, including energy resources such as natural gas and oil, agricultural products, industrial products, and even military procurement,” Lai said in a statement.
“This will not only help balance our bilateral trade, but also help strengthen Taiwan’s development in energy autonomy, resilience, economy and trade,” he added.
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Taiwan’s President Leichete will address the first anniversary of his inauguration at the Presidential Office in Taipei. (Photo by Cheng Yu-Chen via Getty Images/Getty Images/AFP)
Lai also mentioned the US arms sales to Taiwan, which the US has maintained for decades amid an island standoff with mainland China. Taiwan left Beijing when Democrats fled to the island after losing the civil war to the Chinese Communist Party in 1949.
“We are grateful to the US government for supporting our efforts to continue military sales to Taiwan and upgrade our self-defense capabilities. Taiwan will continue to work with the US to jointly protect peace and stability throughout the region,” Lai said.
President Donald Trump threatened a 32% tariff on Taiwan’s goods. (Getty Images/Tom Brenner of the Washington Post via Getty Images)
The Congress visit comes more than a month after the Taiwan Semiconductor Manufacturer (TSMC) announced its $100 billion investment in the US in March.
TSMC previously invested in its Arizona chip factory with its first $12 billion investment, and last April announced an additional $25 billion investment to add a third factory to its Arizona facility by 2030 to add a total investment to $65 billion.
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The Taiwan Semiconductor Manufacturing Co. logo is located above the Hsinchu Science Park building in Hsinchu, Taiwan. (Photographer: Getty Images/Mik Kychen via Getty Images/Bloomberg)
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The company also received grants of up to $6.6 billion from the Arizona facility chips law, as well as other federal funds aimed at strengthening. Domestic semiconductors Manufacturing In the US
Eric Revell from Fox News contributed to this report.