TAIPEI, April 5 (Reuters) - Taiwan President Lai Ching-te met tech executives on Saturday to discuss how to respond to new U.S. tariffs, promising to ensure Taiwan's global competitiveness and safeguard the island's interests.
President Donald Trump announced across-the-board import tariffs on Wednesday with much higher duties for dozens of trading partners, including Taiwan, which runs a large trade surplus with the United States and is facing a 32% duty on its products.
The U.S. tariffs, however, do not apply to semiconductors, a major Taiwanese export.
Lai met the executives at his official residence to discuss the response to "the global economic and trade challenges brought about by the reciprocal tariff policy", his spokesperson Karen Kuo said in a statement.
She did not say which companies were present, only that there were several representatives from the information and communications technology, or ICT, industry.
Lai "hopes to give industry the greatest support, stabilise the economic situation, ensure Taiwan's industry's global competitiveness, and safeguard our country's national interests and the continued steady progress of our economy", Kuo said.
Taiwan is home to TSMC 2330.TW, the world's largest contract chipmaker and an important supplier to companies including Apple AAPL.O and Nvidia NVDA.O.
TSMC did not immediately respond to a request for comment on whether it attended the meeting. TSMC is in its quiet period ahead of first quarter earnings announcement on April 17.
On Friday, Taiwan's government unveiled T$88 billion ($2.67 billion) in financial help for companies and industries to deal with the impact of the U.S. tariffs.
Taiwan, which says the tariffs are unreasonable, has said it will discuss them with the United States and has not announced any retaliatory tariffs.
(Reporting by Ben Blanchard; Editing by William Mallard)
((ben.blanchard@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.