Taiwan President Lai Ching-te is set to convene a meeting of the National Security Council on Friday to explore new trade opportunities and strengthen economic ties with the United States amid discussions on potential tariff adjustments, according to sources familiar with the matter.
The Taiwanese presidential office has not provided comments regarding the meeting. The National Security Council, composed of senior government officials and ministers, plays a vital role in shaping policies that foster economic growth and international partnerships.
On Thursday, U.S. President Donald Trump directed his economic team to develop plans for implementing reciprocal tariffs on countries that impose duties on American imports. While this initiative presents challenges, it also opens the door for strategic discussions on trade policies that could benefit both nations.
Taiwan’s semiconductor industry, a global leader in advanced technology, continues to be a key player in international markets. Taiwan Semiconductor Manufacturing Company (TSMC), the world’s leading contract chipmaker, supplies essential components to major technology firms such as Apple and Nvidia. Enhanced trade discussions could pave the way for strengthened supply chain collaborations and mutually beneficial agreements.
During a press briefing at the White House, President Trump emphasized the importance of expanding domestic semiconductor production while acknowledging Taiwan’s vital role in the industry. “We need chips to be made in the United States, but we also recognize the significance of our trade partners. Taiwan plays a key role in the global semiconductor supply chain, and we look forward to fostering a balanced and productive relationship,” he stated.
Taiwan has maintained a robust trade relationship with the United States, with exports reaching a record $111.4 billion last year, driven largely by the demand for high-tech products. This thriving trade partnership highlights the potential for continued collaboration and economic growth.
As discussions progress, industry leaders and policymakers are optimistic about new opportunities to enhance trade relations, drive innovation, and support global supply chains.
#ITCNewsUpdates #BreakingNews #TradeNews #GlobalPartnerships #EconomicGrowth #MarketOpportunities