Taiwan's government has been swift to respond to the talk of huge tariffs by the recently inaugurated 47th president of the United States. In a statement shared by the Reuters news agency today, the island's economy ministry responded with a calm and conciliatory tone, which highlighted that Taiwan and the U.S. currently enjoy highly complementary trade, and that working closely made for a sound "win-win business model."
To recap the situation as it stands, on Monday Trump announced plans to impose significant tariffs on Taiwan-made chips. During a House Republicans conference, the President reasoned with the audience, stating that computer chip production companies "left us and went to Taiwan," and that he wants them back.
