TAIPEI (Taiwan News) — Minister of Economic Affairs Kuo Jyh-huei (郭智輝) said Monday that talks are ongoing with the US as Trump's tariff deadline approaches. 

US Treasury Secretary Scott Bessent on Sunday said that trade partners unable to reach an agreement will see the US tariff measures announced on April 2 take effect on Aug. 1, per CNA. Although the grace period for countries to negotiate better terms was originally Wednesday, Bessent indicated this new August deadline would give countries three more weeks to negotiate. 

Bessent told Fox News Sunday, “There’s a lot of congestion going into the home stretch." He added that by telling US trading partners that a failure to meet the deadline will mean a return to the April 2 tariffs, "I think it’s really going to move things along the next couple of days and weeks.”

Reporters pressed Kuo on the progress of Taiwan-US tariff talks, whether he was optimistic about the outcome, and if there was any hope of reducing the 32% rate on Taiwan. They noted that some businesses have expressed concern about a potential exodus if the tariffs go into effect.

Kuo responded, “It is still under negotiation.” He declined to provide further details on the talks.