Taiwan to Provide 3.84 Trillion Won Support for Companies Hit by Trump Tariffs

Financial Loan Support for Agriculture... About 787.1 Billion Won Invested
"Responding to Short-Term Changes and Shocks in the Global Economy and Trade Environment"

The Taiwanese government plans to support approximately 12,000 companies that are expected to be affected by the 32% reciprocal tariffs imposed by the United States.

According to reports from United Daily News and China Times on April 22, Secretary-General of the Executive Yuan, Kung Ming-hsin, announced at an Executive Yuan meeting the previous day that a support plan totaling 88 billion New Taiwan dollars (approximately 3.84 trillion Korean won) had been approved.

People riding motorcycles in front of TSMC at Hsinchu Science Park in Taiwan. This photo is for illustrative purposes and is unrelated to the content. Photo by Reuters Yonhap News.

Secretary-General Kung explained that about 70 billion New Taiwan dollars (approximately 3 trillion Korean won) will be allocated for measures such as lowering trade finance interest rates, providing preferential export insurance premiums, easing requirements for export loan guarantees and preferential qualifications, and increasing loans to small and medium-sized enterprises.

He added that around 12,000 companies will benefit from more than 20 measures, including extending existing loan periods and simplifying procedures for new loan applications.

In addition, approximately 18 billion New Taiwan dollars (about 787.1 billion Korean won) will be allocated to support financial loans in the agricultural sector, which is expected to benefit 15,600 farming households. Furthermore, the government plans to secure a special budget of 88 billion New Taiwan dollars after a review by the Legislative Yuan (National Assembly) scheduled for April 24.

Secretary-General Kung stated that the government is not only responding to short-term changes and shocks in the global economy and trade environment, but is also focusing on establishing Taiwan's medium- and long-term economic development strategies and overall objectives.