TAIPEI (Taiwan News) — The American Chamber of Commerce in Taiwan (AmCham) on Tuesday released its 2025 White Paper, calling for more US–Taiwan cooperation and urging Washington to adjust its reciprocal tariff measures, including those announced under the Trump administration.
Trump announced reciprocal tariffs on April 2 with rates as high as 32% for Taiwan, though a 90-day reprieve has delayed implementation amid global outcry, per CNA. Many countries still face a base tariff of 10% as negotiations continue, with the reprieve set to expire in early July.
AmCham said the tariffs “unfairly penalize a trusted democratic partner." The group also called for continued dialogue on issues such as double taxation.
Trade between both countries has been mutually beneficial, with many problems resolved through consultation and transparency, AmCham Chair Dan Silver said. He urged Washington to complete the US–Taiwan Expedited Double-Tax Relief Act, which has bipartisan support, noting that more than 1,000 small and medium-sized enterprises in TSMC’s supply chain face double-taxation obstacles when investing in the US.
Three-quarters of AmCham members believe Taiwan and the US should establish a comprehensive and reciprocal trade agreement to eliminate trade barriers, AmCham President Carl Wegner said. He warned that as global trade becomes fragmented, Taiwan remains a key business partner of the US and an important part of the global supply chain.
Wagner called on Washington to continue to support Taiwan's defense capabilities while strengthening partnerships in the Indo-Pacific region, including with Japan and the Philippines. A delegation led by him will visit Washington at the end of June to press for continued US support for Taiwan’s defense and closer economic ties.
Taiwanese investment in the US reached US$21.5 billion (NT$643 billion) by 2023, with an additional US$13.97 billion in 2024, accounting for over 30.8% of Taiwan’s total foreign investment.
Taiwan held approximately US$295 billion in US Treasury bonds as of early 2025, ranking among the top 10 global holders and supporting US financial stability. The White Paper also highlighted TSMC’s planned US$165 billion investment in advanced semiconductor fabs, which is expected to directly create 6,000 high-tech jobs — including in aerospace, defense, and automotive — and drive tens of thousands more throughout the supply chain.
