Prime Minister Taiwan Chu Jong Tai has suggested an additional $ 10 budget budget to help alleviate the economic effects of potential American definitions. The move comes after President Donald Trump’s decision to suspend a 32 % tariff on Taiwan, which was to enter into force two weeks ago, for a period of 90 days.
At a press conference in Taipei, Prime Minister Zhou confirmed that the first aid package of $ 88 billion (2.71 billion dollars) will be raised to 410 billion dollars (12.61 billion dollars). This expanded budget will provide companies ’financial assistance, support for the labor market and support for electricity costs to reduce the burden on companies and citizens.
The Taiwanese government focuses on alleviating economic repercussions from the trade conflict and ensuring stability in light of uncertainty in world trade, especially with the United States. Funding will play an important role in installing Taiwan’s economy in the face of continuous tariff negotiations.
