- 2 days ago
After the U.S. Trump administration announced it would place a 20% tariffs on most Taiwanese goods, industries across the country are expressing concern about how the tariffs would affect their businesses and livelihoods.
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00:00Starting next week, most Taiwanese goods exported to the U.S. will be subject to a 20 percent
00:08tariff, a rate announced Thursday by the Trump administration that Taiwan President
00:13Lai Qingde has been quick to call temporary, emphasizing that tariff negotiations would
00:17continue as the country seeks a lower rate. But the announcement is already raising concerns
00:23among many industries in Taiwan. Some fishers say they're afraid for their livelihoods,
00:29especially those selling swordfish, as around 70 percent of Taiwan's swordfish are exported
00:34to the U.S. and will be heavily impacted by tariffs. Taiwan's orchid industry may also take
00:50a hit, with around 40 percent of Taiwan's orchids exported to the U.S.
00:59Other industries also say they anticipate impacts on any goods that are imported from
01:19or exported to the U.S.
01:20Though others say they had already made preparations, which may limit the tariffs' effects in the short term.
01:44Taiwan's opposition parties have also criticized the tariff rate, questioning how Taiwan will compete
01:49with neighboring competitors like Japan and South Korea, which both got lower tariff rates at 15 percent.
01:56Taiwan's opposition parties have also criticized the tariff rate, questioning how Taiwan will compete with neighboring competitors like Japan and South Korea, which both got lower tariff rates at 15 percent.
02:06And emphasizing that fluctuations in Taiwan's currency would mean an even higher burden on exporters would mean an even higher burden on exporters.
02:25But Taiwan's ruling party, headed by President Lai, is emphasizing that the negotiations are not finished and that negotiators will work hard to achieve a better deal for Taiwan and for industries across the country.
02:39Andy Xue and Cadence Caronta for Taiwan Plus