A coalition of seven leading Taiwanese business organizations issued a joint statement Monday, urging lawmakers to expedite the ratification of a newly signed trade agreement with the United States, warning that delays could jeopardize the hard-won economic pact.
The agreement, which caps U.S. tariffs on Taiwanese exports at 15%, was welcomed by the industry groups as a critical step in aligning Taiwan's competitiveness with regional rivals like Japan and South Korea. However, the coalition also called on the government to prepare swift mitigation measures for domestic industries likely to face shockwaves from market liberalization.
Push for Legislative Speed
The joint statement, signed by influential bodies including the Chinese National Federation of Industries (CNFI) and the Chinese National Association of Industry and Commerce (CNAIC), emphasized that the 15% "reciprocal tariff" rate is a foundational win for the island's export-driven economy.
Drawing parallels to stalled trade deals in South Korea, the groups argued that rapid domestic review is essential to lock in the agreement's benefits. They urged the Legislative Yuan to put aside partisan differences and approve the deal as soon as the Executive Yuan submits it.
The coalition warned that procrastination could give Washington a pretext to alter the terms, such as re-evaluating tax rates or launching currency investigations, effectively undoing the 15% preferential rate.
Economic Concerns and Mitigation
While praising the strategic diplomatic victory, the business leaders expressed apprehension regarding the specific impacts of opening Taiwan's market to U.S.-manufactured automobiles and agricultural products.
The groups warned of potential "trade diversion," where global exports facing high tariffs in other regions might flood into Taiwan, destabilizing local prices. The coalition called on the government to implement concrete relief measures for affected sectors, strengthen industrial guidance to help domestic firms adapt, and establish an active consultation mechanism with the private sector to navigate the transition.
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