Taiwan President Lai Ching-te emphasized the island's crucial role in the global supply chain and vowed to protect its companies' interests amidst an impending announcement of hefty import tariffs by the United States. The Trump administration, specifically Treasury Secretary Scott Bessent, has indicated that the focus of the tariffs would target 15 countries with the largest trade surpluses with the U.S., referred to as the "Dirty 15." While the countries have not been disclosed, Taiwan is confirmed to be among them, alongside nations like China, South Korea, and the European Union. President Trump is set to reveal the tariffs later on Wednesday.

President Lai assured his party members that though the tariffs are concerning, the government has assessed the potential impacts and prepared a response plan. He stressed Taiwan's significant economic standing as the world's 21st largest economy, underscoring its vital role in the global supply chain and regional security. Taiwan is committed to collaborating with its international partners to drive mutual prosperity.

Taiwan plans to work closely with the U.S. to safeguard the fair competitive position of its companies and support industries that might be affected by the tariffs. Taiwanese officials have highlighted the skewed trade relationship with the U.S., driven by a high demand for Taiwanese technology products like advanced semiconductors, an area where the island excels with major chipmaker TSMC. To address the trade imbalance, Taiwan aims to reduce some import tariffs and increase its purchase of U.S. energy resources.

(Adapted from reporting by Ben Blanchard; Edited by Frances Kerry)