Taiwan’s Premier Cho Jung-tai has proposed a special budget worth an additional $10 billion to help mitigate the economic effects of potential U.S. tariffs. The move follows President Donald Trump’s decision to temporarily suspend a 32% tariff on Taiwan, which had been due to take effect two weeks ago, for a period of 90 days.
At a press conference in Taipei, Premier Cho confirmed that the initial T$88 billion ($2.71 billion) aid package would be raised to T$410 billion ($12.61 billion). This expanded budget will provide financial assistance to companies, support for the job market, and subsidies for electricity costs to reduce the burden on businesses and citizens.
The Taiwanese government is focusing on easing the economic fallout from the trade dispute and ensuring stability in light of global trade uncertainties, particularly with the United States. The funding will play a critical role in stabilizing Taiwan’s economy in the face of ongoing tariff negotiations.
