TAIPEI (Taiwan News) — President Lai Ching-te (賴清德) said Taiwan would respond prudently to Trump’s concerns about its semiconductor industry through increased communication.
Speaking after convening a national security meeting on Friday, Lai said Taiwan would prioritize increasing defense spending to 3% of GDP. Vice President Hsiao Bi-khim (蕭美琴), Premier Cho Jung-tai (卓榮泰), National Security Council Secretary-General Joesph Wu (吳釗燮), and other officials were present at the meeting.
Lai said Taiwan has always been the US’ “most reliable trading partner and the most important partner of US companies in the global semiconductor industry.” Lai added policy changes would not affect this or any other area of US-Taiwan cooperation, and that the public could rest assured.
On Thursday, Trump reiterated his claim that Taiwan stole US semiconductor manufacturing and said, “We want that business back.” Trump has also suggested up to 100% tariffs on Taiwanese semiconductor imports.
In light of Trump’s new approach, Lai said Taiwan will increase consultations with the new US government. He said this will help the US understand that Taiwan is an “indispensable partner” in manufacturing and high-tech leadership.
“I want to emphasize that as the world's largest semiconductor power, Taiwan has the ability and willingness to respond to new situations,” Lai said.
Lai stressed that Taiwanese investment in the US has increased significantly in recent years, which he said has created nearly 400,000 jobs. He said the nation’s investments in the US are expected to exceed its investments in China and thereby become the country’s largest investment destination.
Lai said the Cabinet is reviewing trade with the US to promote a bilateral trade balance. He said the government would also encourage Taiwanese companies to invest in the US and grow Taiwan’s industries.
Economics officials said on Monday that Taiwan is preparing to increase imports of US natural gas to reduce its trade surplus with the US. The announcement came after Trump told Japan Prime Minister Ishiba Shigeru he was looking to eliminate the US trade deficit with Japan “very quickly” through increased energy exports.
Lai said Taiwan will continue to work with the US “at all levels” to pursue regional stability and an open Indo-Pacific. He said Taiwan will continue to show its commitment to national defense by prioritizing special budgets and bringing its defense spending to 3% of GDP.
Lai said 48 US arms sales to Taiwan had been announced over the past eight years worth US$26.27 billion (NT$860.28 billion). He said during Trump’s first term, US arms sales to Taiwan were worth US$18.77 billion.
