Taipei [Taiwan], April 20 (ANI): Taiwan President William Lai Ching-te has assured aquaculture industry leaders that Taiwan’s ongoing tariff negotiations with the US would not come at the expense of its agricultural and fishery sectors, as concerns rise over Washington’s proposed trade measures primarily targeting China, Taipei Times reported.
Although the White House paused a planned across-the-board 32 per cent import tariff on countries with trade surpluses – including Taiwan – a 10 per cent duty will still be applied, excluding China.
The US administration, under President Donald Trump, announced on April 2 its intent to impose “reciprocal” tariffs on countries with large trade imbalances with the US. While a temporary reprieve was issued last week, Taiwanese officials remain cautious as the tariff still affects critical export industries.
An Executive Yuan official confirmed that Taiwan and the US are expected to hold a second round of tariff negotiations soon, following initial talks on April 11.
During a meeting with aquaculture industry leaders in Chiayi County, Lai emphasised that local farmers and fishers would not be sacrificed for trade interests. Taiwan Aquaculture Development Association CEO Hou Yen-lung praised government support, citing that Taiwanese tilapia now accounts for 80 per cent of the post-pandemic US market – up from 50 to 60 per cent previously.
“Such support, alongside excellent technique and technology, ensures that Taiwanese tilapia shines among the hundred countries that are raising tilapia for exports,” Hou said. He added that the industry hopes to maintain this level of support during upcoming negotiations, reported Taipei Times.
Hou also pointed to the importance of tackling disease among fish populations, noting that successful disease prevention could further expand Taiwan’s export opportunities. He expressed concern on behalf of farmers and fishers who are anxious about the timing of tariff discussions, especially as it coincides with the current season for planting and fish stocking.
Lai reiterated the value of local industries in Taiwan’s broader economic ecosystem. “Not everyone can work at Taiwan Semiconductor Manufacturing Co (TSMC), and each person has their own strengths,” he said, adding that agriculture and fisheries are foundational to the nation’s strength, as per reports by Taipei Times.
He highlighted advancements such as the Fisheries Research Institute’s development of artificially grown narrow-barred mackerel, which diversifies Taiwan’s aquaculture sector and boosts its export potential.
Lai noted that the Executive Yuan is preparing an NTD 88 billion (USD 2.7 billion) relief package, with NTD 10 to NTD 20 billion allocated to agriculture and fisheries. He stressed the importance of mid- to long-term development and encouraged further Taiwanese investment in the US to strengthen global market access. (ANI)
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