TAIPEI (Reuters) – The Taiwan-U.S. partnership is a driver of shared economic prosperity and central to supply chain security and stability in the region, the American Chamber of Commerce in Taiwan said on Thursday after U.S. tariffs were announced.
U.S. President Donald Trump on Wednesday announced across the board import tariffs, with much higher duties for dozens of trading partners, including Taiwan which runs a large trade surplus with the United States and will get a 32% tariff.
The U.S. tariffs do not apply to semiconductors, a major Taiwan export.
In a statement, AmCham Taiwan said it continued to stress Taiwan’s “indispensable” role in the U.S. economy.
“AmCham Taiwan urges policymakers in both Washington and Taipei to continue fostering this mutually beneficial relationship,” it said in a statement.
“In a time of growing geopolitical complexity, the U.S.-Taiwan partnership is not only a driver of shared economic prosperity but also central to supply chain security and regional stability.”
Taiwan’s government has yet to respond to the tariffs. Both Thursday and Friday are holidays in Taiwan.
Taiwan President Lai Ching-te said on Wednesday ahead of the U.S. announcement that the island is an “indispensable” member of the global supply chain and it would ensure its companies’ interests.
Taiwan government officials have repeatedly said trade with the United States has been skewed by an insatiable demand for Taiwanese technology products, such as advanced semiconductors which is a sector that the island, home to major chipmaker TSMC, dominates.
TSMC last month announced a new $100 billion investment in the United States.
Taiwan has said it will cut some of its own import tariffs and buy more U.S. energy to help balance trade.
(Reporting by Ben Blanchard; Editing by Michael Perry)
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