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Taiwan to seek exemption from U.S. steel tariffs

Taiwan to seek exemption from U.S. steel tariffs

TAIPEI: Taiwan’s top trade negotiator, departed Sunday for the United States with the aim of seeking an exemption from the Donald Trump administration’s new tariffs on steel and aluminum imports.

The delegation, comprising economic and trade officials, will seek negotiations with U.S. foreign trade agencies during its one-week visit on tariffs to be implemented on steel and aluminum imports into the U.S., in a bid to protect the interests of Taiwanese exporters, Minister of Economic Affairs Shen Jong-chin  said that day.

Meanwhile, representatives from the domestic steel industry have also headed to the U.S. in various groups to seek talks with U.S. congressional leaders through their customers there, Shen said.

Deng said a day earlier that the delegation’s visit is to convey domestic steel and aluminum industry concern over the new tariffs, highlight Taiwan’s role as an important security partner of the U.S. and explain to the U.S. that Taiwan’s steel and aluminum makers do not pose a threat to their U.S. counterparts.

The delegation will also seek to learn about concrete measures the U.S. will adopt to impose heavy tariffs on imported steel and aluminum.

The domestic steel industry said that with the U.S. representing Taiwan’s largest steel export market, accounting for 13 percent of the country’s steel exports, the imposition of the tariffs on steel imports from Taiwan is expected to have a significant impact on the industry, and it expressed hope that the government will seek the most favorable conditions for the industry to reduce the impact.