Trade
2 days ago

Taiwan foreign minister to visit Texas to boost trade ties

Taiwan Foreign Minister Lin Chia-lung makes a speech at a press conference for foreign media in Taipei, Taiwan, July 19, 2024. REUTERS/Ann Wang/File Photo
Taiwan Foreign Minister Lin Chia-lung makes a speech at a press conference for foreign media in Taipei, Taiwan, July 19, 2024. REUTERS/Ann Wang/File Photo

Published :

Updated :

For all latest news, follow The Financial Express Google News channel.

Taiwan's foreign minister will visit the US state of Texas to speak at a forum on artificial intelligence (AI) and promote business and trade ties, his office said on Tuesday, as Taipei seeks to bolster investment and see off the threat of tariffs.

Goods from tech powerhouse Taiwan had been due to face US import tariffs of 32% until US President Donald Trump paused the plan last month for 90 days.

Taiwan has since begun tariff talks with the United States, and promised to purchase more US goods and invest more in the country as a way to seek more balanced trade.

Taiwan's foreign ministry said that its minister, Lin Chia-lung, would speak at a Taiwan-Texas AI summit in the state on Friday, and be accompanied by an industry delegation, including from the Taiwan Electrical and Electronic Manufacturers' Association.

The ministry said the main purpose of the trip was to promote Taiwan President Lai Ching-te's roadmap to deepen Taiwan-US ties and facilitate Taiwanese investment in the country.

The ministry said it looked forward to Lin's visit to Texas with the delegation to "deepen our mutually beneficial partnership with the United States and Texas in a number of economic and trade areas".
Last month, Taiwanese contract electronics manufacturer Inventec (2356.TW), opens new tab agreed to invest up to $85 million to build manufacturing facilities in Texas.

Chinese-claimed Taiwan does not have formal diplomatic ties with the United States, but the country is Taiwan's most important international backer and arms supplier.

Despite the lack of formal relations, Taiwanese foreign ministers and other senior officials do on occasion visit the United States.

Share this news

More News