Taiwan's William Lai vows to bargain with US as 20% tariff rate draws flak
failure to secure a more favourable deal.
Lai's pledge on Friday came after President Donald Trump imposed what Taipei described as a 'temporary' 20 per cent levy on Taiwanese exports to the United States.
'The 20 per cent tariff rate was never Taiwan's target to begin with. We hope in follow-up talks we are able to strive for a rate that's more favourable and reasonable for Taiwan,' Lai said at a press conference in Taipei.
Trump imposed tariffs ranging from 10 to 41 per cent on imports from dozens of US trading partners in an executive order issued on Thursday.
01:15
Canada, Brazil hardest hit as Trump unleashes new global tariff blitz
Canada, Brazil hardest hit as Trump unleashes new global tariff blitz
While Taiwan's 20 per cent rate is lower than the 32 per cent he announced in April, it exceeds the 15 per cent rates fellow Asian economies Japan and South Korea ultimately secured – and falls short of earlier expectations from the Lai administration.
Lai framed the rate as a 'phased outcome' of ongoing negotiations,saying: 'The US government has also expressed its willingness to proceed with further talks with Taiwan.'
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