Taipei: Premier Cho Jung-tai (???) has committed to briefing lawmakers on the details of a NT$88 billion Cabinet proposal aimed at supporting Taiwanese businesses following the imposition of extensive tariffs by U.S. President Donald Trump, announced an opposition party chair on Monday.
According to Focus Taiwan, Taiwan People's Party (TPP) chair and legislative caucus whip Huang Kuo-chang (???) stated that Cho promised a comprehensive introduction of the NT$88 billion plan during a Legislative Yuan briefing. This will enable lawmakers to better assess its feasibility and effectiveness in addressing the challenges Taiwan faces due to the recent tariff announcement by the U.S.
Earlier, Huang had criticized the Cabinet's proposal for its lack of detail and urged the ruling administration to conduct a thorough impact evaluation of America's tariff announcement. Chang Chi-kai (???), a TPP lawmaker and the party's deputy caucus whip, indicated that the legislature would engage in negotiations led by Legislative Speaker Han Kuo-yu (???) of the main opposition Kuomintang (KMT) on Tuesday to schedule Cho's report. The TPP hopes the briefing can be arranged within the week.
Fu Kun-chi (???), the KMT's caucus whip, expressed his party's support for Cho's briefing to the lawmakers. The KMT also advocates for an increased budget in response to Trump's announcement last week, which will subject most Taiwanese imports to the U.S. to a 32 percent tariff starting April 9. Fu emphasized the need for a timely briefing to provide clarity on which business sectors will be most affected by the decision.
The KMT and TPP representatives shared these insights following a two-hour-and-15-minute cross-party meeting hosted by Cho at the Executive Yuan on Monday to discuss the NT$88 billion proposal. The ruling Democratic Progressive Party (DPP) requires the support of the KMT and TPP, as the opposition holds a majority in Taiwan's 113-seat Legislature.
According to Vice Premier Cheng Li-chiun (???), the DPP government intends to allocate NT$70 billion of the proposed NT$88 billion towards measures such as lowering loan interest rates, reducing administrative costs, and expanding tax exemptions for industries impacted by the tariffs. The remaining NT$18 billion is designated to support the agricultural sector through loans, interest subsidies, equipment subsidies, and other measures, as detailed by Cheng during a Friday Cabinet press event.