TAIPEI (Taiwan News) — President Lai Ching-te (賴清德) on Saturday invited leaders from Taiwan’s technology sector to his residence to discuss the Trump administration’s newly announced 32% tariff on imports from Taiwan.

The guest list included Taiwan Semiconductor Manufacturing Co. Vice President Cliff Hou (侯永清), Foxconn Technology Chair Young Liu (劉揚偉), and top executives from Acer, Quanta Computer, Compal Electronics, ASUSTeK Computer, and Wistron, per TTV. Leaders from Taiwan’s traditional industries and small and medium-sized enterprises were expected to meet with the president on Sunday.

The business leaders agreed with Lai that the immediate priority was to support affected industries, per CNA. The meeting aimed to develop a medium- and long-term strategy in response to the tariff, while executives also shared their needs and perspectives with the president.

Separately, Premier Cho Jung-tai (卓榮泰) met with officials from the Central Bank, the Ministry of Finance, and the Financial Supervisory Commission to discuss measures ahead of Monday’s stock market reopening following the four-day holiday. There were concerns of a “Black Monday” scenario due to the steeper-than-expected tariff.

On Friday, Cho announced NT$88 billion (US$2.66 billion) in aid for industries and agriculture to help absorb the impact of the new trade measure. Tech leaders reportedly told Lai that there was no need to rush a response to the Trump administration, and advised the government to monitor developments before making any major moves.