Taiwan's President Lai Ching-te held a meeting with senior officials on Sunday evening to discuss the potential implications of U.S. tariffs and to stay informed about contingency plans. This was communicated by his office on Monday.

Trump administration representatives, such as Treasury Secretary Scott Bessent, have indicated that the U.S. will focus on implementing reciprocal tariffs on 15 countries with significant trade surpluses with the United States.

These countries, referred to as the "Dirty 15" by Bessent, have not been disclosed, but according to U.S. Census Bureau data, Taiwan is among them, alongside China, South Korea, and the European Union, among others. The announcement of tariffs is expected on April 2.

During the meeting, President Lai, along with Premier Cho Jung-tai and members of a Taiwan-U.S. trade working group, reviewed the current situation, evaluated the government's assessments, and made preparations for various contingency measures.

Lai's spokesperson Karen Kuo mentioned that officials discussed potential tariff scenarios, assessed their likely impacts, and devised necessary contingency plans to safeguard Taiwan's interests, economic stability, and provide support to affected industries.

Given Taiwan's significant trade surplus with the U.S., which notably increased by 83% last year, contributing to record exports valued at $111.4 billion, primarily in the high-tech sector, such as semiconductors, concerns about the impending tariffs led to a more than 2% decline in Taiwan's stock index on Monday morning.

President Trump stated that the upcoming reciprocal tariffs, to be announced this week, will encompass all nations rather than a select group of 10 to 15 countries with the largest trade imbalances.