TAIPEI (Taiwan News) — The Ministry of Labor on Monday announced initiatives to assist workers in mitigating the impact of US tariffs.
According to the ministry, the measures aim to prevent significant swings in labor demand, increased unemployment risks, and challenges for young individuals entering the job market, per CNA.
Premier Cho Jung-tai approved an NT$88 billion (US$2.67 billion) support package on Monday in response to US tariffs. The program is expected to benefit around 24,000 businesses and includes initiatives such as reduced financing interest rates and eased loan eligibility for small and medium-sized enterprises.
The ministry will support affected businesses in organizing vocational training programs to enhance employees' skills. It will also provide subsidies of up to NT$2 million for employee training, with applications open until October.
The ministry said that employees affected by reduced working hours can participate in ministry-approved training programs and are eligible for training allowances for up to six months.
To prevent layoffs, the ministry will encourage labor-employer negotiations to reach agreements on reducing working hours and adjusting wages, while providing wage subsidies to affected workers. It said the subsidy program is open to applications from the rubber products, machinery and equipment, and transportation equipment manufacturing industries, with potential expansion to other sectors.
The ministry will help unemployed middle-aged and older workers find jobs through public employment service agencies and provide subsidies for job training. It will also offer hiring incentives to companies that employ these workers.
Lastly, the ministry will promote vocational training programs for young individuals aged 15 to 29, providing a monthly incentive of NT$10,000 for up to three months. In addition, first-time job seekers will be eligible for a monthly job search subsidy of NT$5,000, available for a maximum of three months.
