Taiwan Plans $10 Billion Aid Package to Offset US Tariffs

Taiwan has proposed an additional $10 billion special budget to help its economy cope with the impact of U.S. tariffs, which were initially set at 32% but have been temporarily suspended by President Donald Trump for 90 days. Premier Cho Jung-tai announced that the aid package would be expanded from T$88 billion to T$410 billion, with funds allocated for financial support to businesses, job market stabilization, and electricity subsidies. The proposal requires approval from Taiwan's parliament, where opposition parties have previously imposed significant budget cuts, citing waste reduction as their rationale. In parallel to these domestic measures, Taiwan's government is negotiating with the U.S. over the tariffs and has pledged billions in new purchases to address the trade surplus. President Lai Ching-te emphasized that increasing imports of U.S. natural gas and oil is a central aspect of ongoing tariff discussions. The effectiveness of these strategies will depend on both parliamentary approval and the progress of talks with the United States.