Office of the President Republic of China(Taiwan)

On April 10, an article penned by President Lai Ching-te entitled “Taiwan Has a Roadmap for Deeper US Trade Ties” was published by Bloomberg News, explaining to a global audience Taiwan’s strategy on trade with the United States, as well as how Taiwan will engage in dialogue with the aim of removing bilateral trade barriers, increasing investment between Taiwan and the US, and reducing tariffs to zero. The following is the full text of President Lai’s article: Last month, the first of Taiwan’s 66 new F-16Vs rolled off the assembly line in Greenville, South Carolina. Signed during President Donald Trump’s first term, the $8 billion deal stands as a testament to American ingenuity and leadership in advanced manufacturing. Beyond its economic impact – creating thousands of well-paying jobs across the US – it strengthens the foundations of peace and stability in the Indo-Pacific.  This deal is emblematic of the close interests shared between Taiwan and the US. Our bond is forged by an unwavering belief in freedom and liberty. For decades, our two countries have stood shoulder-to-shoulder in deterring communist expansionism. Even as Beijing intensifies its air force and naval exercises in our vicinity, we remain resolute. Taiwan will always be a bastion of democracy and peace in the region. This partnership extends well beyond the security realm. Though home to just 23 million people, Taiwan has in recent years become a significant investor in America. TSMC recently announced it will raise its total investment in the US to $165 billion – an initiative that will create 40,000 construction jobs and tens of thousands more in advanced chip manufacturing and R&D. This investment will bolster the emergence of a new high-tech cluster in Arizona. Taiwan is committed to strengthening bilateral cooperation in manufacturing and innovation. As a trade-dependent economy, our long-term success is built on trade relationships that are fair, reciprocal and mutually beneficial. Encouraging Taiwanese businesses to expand their global footprint, particularly in the US, is a vital part of this strategy. Deepening commercial ties between Taiwanese and American firms is another. These core principles will guide our response to President Trump’s reciprocal tariffs. First, we will seek to restart trade negotiations with a common objective of reducing all tariffs between Taiwan and the US. While Taiwan already maintains low tariffs, with an average nominal rate of 6%, we are willing to further cut this rate to zero on the basis of reciprocity with the US. By removing the last vestiges to free and fair trade, we seek to encourage greater trade and investment flows between our two countries. Second, Taiwan will rapidly expand procurement of American goods. Over the past five years, rising demand for semiconductors and AI-related components has increased our trade surplus. In response to these market trends, Taiwan will seek to narrow the trade imbalance through the procurement of energy, agriculture and other industrial goods from the US. These efforts will create thousands of new jobs across multiple sectors.  We’ll also pursue additional arms procurements that are vital to our self-defense and contribute to peace and stability over the Taiwan Strait. During President Trump’s first term, we secured $18 billion in arms deals, including advanced fighter jets, tanks and anti-ship missiles. Future purchases, which are not reflected in trade balances, build on our economic and security partnership while being essential to Taiwan’s “Peace Through Strength” approach. Third, new investments will be made across the US. Already, Taiwanese firms support 400,000 jobs throughout all 50 states. Beyond TSMC, we also see emerging opportunities in electronics, ICT, energy and petrochemicals. We will establish a cross-agency “US Investment Team” to support bilateral trade and investment – and we hope that efforts will be reciprocated by the Trump administration. Fourth, we are committed to removing non-tariff trade barriers. Taiwan will take concrete steps to resolve persistent issues that have long impeded trade negotiations. And finally, we will strongly address US concerns over export controls and improper transshipment of low-cost goods through Taiwan. These steps form the basis of a comprehensive roadmap for how Taiwan will navigate the shifting trade landscape, transforming challenges in the Taiwan-US economic relationship into new opportunities for growth, resilience and strategic alignment. At a time of growing global uncertainty, underpinned by growing Chinese assertiveness, closer trade ties are more than sound economics; they are a critical pillar of regional security. Our approach is long-term and principled, grounded in a lasting commitment to our friendship with the US, a firm belief in the benefits of fair and reciprocal trade, and an unwavering dedication to peace and stability across the Taiwan Strait. We are confident that our shared economic and security interests will not only overcome turbulence in the international trade environment – they will define the future of a free and open Indo-Pacific.

On the afternoon of November 18, President Lai Ching-te attended the opening of the 2024 European Union Investment Forum. In remarks at the event, President Lai stated that as we face the threat of expanding authoritarianism, Taiwan and the EU must form a strong democratic umbrella, and that, more than ever, we must come together to build supply chains for global democracies that are more secure and resilient. The president expressed hope for the signing of an economic partnership agreement (EPA) between Taiwan and the EU, which would make both our economies more resilient and secure and ensure the stable operation of global supply chains. He also expressed hope that Taiwan and Europe will continue to build on our bilateral ties and make every moment the best moment for Taiwan-EU relations.  A transcript of President Lai’s remarks follows: I am honored to be here today with all of you, to witness the five-year milestone of the EU Investment Forum, an important platform for envisioning the future of collaboration between Taiwan and the EU. The forum has boosted Taiwanese investment in Europe, while helping the EU to remain Taiwan’s largest source of foreign investment over several years. I would especially like to thank the EETO [European Economic and Trade Office], our Ministries of Foreign Affairs and Economic Affairs, and all the co-organizers for their combined efforts. I am sure that today’s forum will enrich the already fruitful cooperation between Taiwan and the EU. Taiwan and the EU share the values of freedom and democracy, and each of us is an indispensable strategic partner. As we face the threat of expanding authoritarianism, Taiwan and the EU must form a strong democratic umbrella. And, more than ever, we must come together to build supply chains for global democracies that are more secure and resilient. Building on this solid foundation, Taiwan will work to further expand cooperation with the EU. In recent years, we have promoted the Taiwan-Europe Connectivity Initiative, Central and Eastern Europe Credit Fund, and cooperation in the semiconductor industry. Each of these major policies reinforces the goals of the EU Investment Forum, and brings Taiwan and the EU into a much deeper partnership in high tech, green energy, and other sectors. Last year, Taiwan initiated 22 new investment projects in the EU, totaling over US$4.9 billion – an impressive growth of 750 percent from 2022. We see many big-name Taiwanese enterprises expanding their presence in the EU market. And we hope to see many more European enterprises do the same by investing in Taiwan, which will benefit both of us, as we leverage our industrial strengths. Looking to the future, Taiwan hopes to take an innovative approach toward the signing of an economic partnership agreement with the EU. Such an agreement would deepen our mutually beneficial partnership and set a sound institutional basis for further cooperation. The EU released its European Economic Security Strategy last year, followed by a set of five initiatives this year to strengthen economic security. Both specifically emphasize “partnering with the broadest possible range of countries” to advance economic security interests. Given this direction of policy, cooperation between Taiwan and the EU is essential. I believe that through an EPA, Taiwan and the EU can open up cooperation in fields including semiconductors, AI, digital tech, environmental protection, green energy, and more. This would not only make both our economies more resilient and secure, but also ensure the stable operation of global supply chains. We share a common mission – to provide investment-friendly environments for our enterprises. We also share a common goal – to advance democracy, peace, and prosperity around the world. I want to take this opportunity to express my appreciation to the EU and European nations for taking concrete action to safeguard freedom of navigation in the Taiwan Strait. I also want to thank the European External Action Service for the statements it issued when China launched military exercises this past May and October. These statements reaffirmed the Service’s unwavering stance on supporting peace and stability in the Taiwan Strait. While the EU is actively engaged in Indo-Pacific affairs, Taiwan is doing its utmost to protect democratic values. We will continue to contribute humanitarian aid to Ukraine, and work hand in hand with European nations for mutual prosperity and growth. To close, I want to thank the EETO once again for the invitation. Let’s continue to build on the ties between Taiwan and Europe, and make every moment the best moment for Taiwan-EU relations. I wish you all a very successful forum. Thank you. Also in attendance at the event were EETO Head Lutz Güllner, European Commission Deputy Director-General for Trade Maria Martin-Prat, and members of the foreign diplomatic corps in Taiwan.

On the evening of November 12, ahead of his departure for Peru to attend the 2024 APEC Economic Leaders’ Meeting (AELM) from November 15 to 16 in Lima, APEC Leader’s Representative Lin Hsin-i (林信義) delivered remarks on his upcoming trip. Leader’s Representative Lin said that he hopes to convey to leaders’ representatives and delegations of other APEC economies that Taiwan is an important, stable, and indispensable force for the economic prosperity of the region. He also expressed confidence in his and his fellow delegation members’ ability to fulfill their mission. In remarks, Leader’s Representative Lin first thanked everyone for making the trip to see him and his delegation off, and he thanked the members of the media for their concern and support. He said it is a great honor to represent the president in attending the AELM in Lima, adding that government agencies have practically been working around the clock in preparation for the trip. Over the past year, he said, senior officials, ministers, and people in business and industry have been working in a spirit of solidarity, attending meeting after meeting, accumulating an impressive body of achievements. Therefore, he underlined, he and his fellow delegation members are quite confident in their ability to fulfill their mission. Leader’s Representative Lin mentioned that an especially large number of topics will be addressed in this year’s AELM proceedings, including inclusive digital transformation; twin green and digital transition; reduction of food loss and waste; improvement of human resource organizations and human capital; competitiveness of micro-, small- and medium-sized enterprises in the digital age; and increased participation of women’s groups and disadvantaged groups in economic development. As Taiwan is especially strong in the fields of digital medicine, agriculture, and small- and medium-sized enterprises, he said, the delegation will take the opportunity in AELM meetings to actively familiarize the leaders’ representatives and delegations of other APEC economies with Taiwan’s efforts, achievements, and contributions, so that everyone can understand Taiwan as an important, stable, and indispensable force for the economic prosperity of the region. Leader’s Representative Lin once again thanked everyone for coming to show support for the delegation, which was greatly meaningful to them. He then wished everyone good health and happiness.

On the morning of November 7, President Lai Ching-te attended a press conference before Taiwan’s delegation departs for the 2024 APEC Economic Leaders’ Meeting (AELM). In remarks, President Lai thanked Senior Advisor to the President Lin Hsin-i (林信義) for acting as our leader’s representative to this year’s meeting. President Lai remarked that the theme for APEC 2024 is Empower, Include, Grow. He expressed hope that Senior Advisor Lin and the members of the delegation will convey three major propositions during the meeting: that Taiwan is actively contributing to the international community, supports a fairer and more inclusive international trade order, and is willing to promote the development of digital trade among other economies. The president emphasized that Taiwan has the capabilities and is more than willing to promote digital trade among other economies and begin the relevant cooperation. He expressed confidence that given Senior Advisor Lin’s professional expertise and experience, he will accurately convey Taiwan’s voice and perspectives to the other APEC member economies. A translation of President Lai’s remarks follows: This year’s AELM will kick off on November 15 in Lima, Peru. I want to offer special thanks to Senior Advisor Lin for accepting my invitation to serve as our country’s APEC leader’s representative, and represent me at this year’s meeting. Senior Advisor Lin has worked in both the public and private sectors, possesses extensive industry experience, and has successively served in important positions including minister of economic affairs, vice premier, and minister of the Council for Economic Planning and Development (now National Development Council) of the Executive Yuan. He not only combines practical experience with a high degree of professionalism, but also continues to serve as one of my senior advisors, an advisor on the Executive Yuan’s Economic Development Commission, and chairman of Taiwania Capital Management Corporation, contributing his outstanding expertise to the nation. In 2000 and 2001, Senior Advisor Lin represented the nation at the APEC Annual Ministerial Meeting (AMM). In 2005, he also served as leader’s representative and led a delegation to the AELM hosted by Korea, and successfully accomplished his mission. I am confident that given Senior Advisor Lin’s professional expertise and extensive experience, as well as his past participation in APEC-related meetings, he will accurately convey Taiwan’s voice and perspectives to the other APEC member economies. APEC is the most important forum in the Asia-Pacific region for multilateral economic and trade cooperation. Its purpose is to spur regional economic integration, growth, and development through dialogue and negotiation. The theme for APEC 2024 is Empower, Include, Grow. On that point, I have asked Senior Advisor Lin and the members of the delegation to convey Taiwan’s three major propositions during the meeting: First, Taiwan is actively contributing to the international community. I have asked Senior Advisor Lin and our AMM and APEC Business Advisory Council (ABAC) representatives to broadly raise awareness of Taiwan’s positive contributions to APEC, and in particular, give the various member economies a clear understanding of Taiwan’s developmental achievements and contributions over the years in fields including AI and digital medicine. Taiwan will continue to make such contributions. Second, Taiwan supports a fairer and more inclusive international trade order. APEC has long been concerned about the development of global free trade, including its impact on the rights of disadvantaged groups, and the hardships sustained by various countries due to unfair trade practices. For many years, APEC has continuously worked to promote fair and inclusive trade, and I have asked the delegation to convey Taiwan’s support and commitment to all the member economies. Taiwan is willing to cooperate with our APEC partners to create a fairer, more inclusive international trade order. Third, Taiwan is willing to promote the development of digital trade among other economies. Among the current member economies, digital trade has already become an important component of overall trade, and we are confident that Taiwan’s digital capabilities can spur global economic development. I hope that our delegation will take advantage of this opportunity to communicate with representatives from other member economies and show them that Taiwan has the capabilities and is more than willing to promote digital trade among other economies and begin the relevant cooperation. In closing, I would like to thank Senior Advisor Lin and all of the members of the delegation once again. I am confident that under Senior Advisor Lin’s leadership, the delegation will successfully complete its mission, and I wish you all a smooth journey. Thank you. Senior Advisor Lin then delivered remarks, first stating that he is very honored to be entrusted by the president with representing him at this year’s AELM to be held in Peru. Regarding the tasks and instructions laid out by President Lai, Senior Advisor Lin said that he and the entire delegation will spare no effort, and will not let down the people of Taiwan. Senior Advisor Lin indicated that with the current international economic landscape changing rapidly, alongside geopolitical changes, Taiwan is presented with an abundance of opportunities on the international economic stage, yet many challenges as well. He said that after accepting this important mission, he heard briefings from across government agencies in the limited time that was available and thoroughly read information concerning the meeting, and that the staff diligently made the best possible preparations. All administrative agencies worked together seamlessly under the coordination of the National Security Council (NSC), he said, which fills him with confidence. Senior Advisor Lin remarked that Taiwan has followed APEC’s themes for many years, promoting many initiatives which have garnered significant results and widespread acclaim. Particularly in recent years, he said, Taiwan has been promoting successful digital health initiatives which have made other economies aware of our proud efforts in the fields of public health and digitalization, as well as our substantial contributions to APEC. Senior Advisor Lin said that the delegation, in keeping with this year’s theme of Empower, Include, Grow, will share with the participating economies Taiwan’s own experiences in the economic empowerment of small- and medium-sized enterprises in addition to women, indigenous peoples, and economically disadvantaged groups. He said that they will also relate our efforts in agricultural technology for reducing food loss and waste as well as our actions toward net-zero transition. Such sharing, he said, will help the economies understand public-private partnership in Taiwan. It will also show how Taiwan can use its strengths in digital technology to contribute to APEC, he added, while also advancing economic growth in the Asia-Pacific region that is fairer, more inclusive, and more sustainable, contributing positive energy to the region. In closing, Senior Advisor Lin emphasized that he will use this opportunity to conduct exchanges with other leader’s representatives and convey Taiwan’s willingness to uphold the spirit of mutual assistance, mutual benefits, and reciprocity with the international community as well as to contribute to the peaceful and stable development of the Asia-Pacific region. This, he noted, will demonstrate that Taiwan is a good, reliable, and responsible member of the international community and garner more support from our friends around the world. He said that the delegation will commit all their efforts to completing the mission charged to them by President Lai. This year’s delegation also includes daughter of the leader’s representative Lin Wen-hsien (林玟萱), Minister without Portfolio of the Executive Yuan and National Development Council Minister Liu Chin-ching (劉鏡清), Minister without Portfolio of the Executive Yuan Yang Jen-ni (楊珍妮), NSC Deputy Secretary-General Hsu Szu-chien (徐斯儉), Ministry of Foreign Affairs Department of International Organizations Director General Jonathan C.Y. Sun (孫儉元), Acer Chairman Jason Chen (陳俊聖), Taiwan Mobile President Jamie Lin (林之晨), and Quanta Computer Chief Technology Officer Ted Chang (張嘉淵), the latter three serving as ABAC representatives. This year’s AELM will be held from November 15 to 16 in Lima, Peru. In addition to attending the AELM, Senior Advisor Lin, as our leader’s representative, alongside ABAC representatives Chairman Chen, President Lin, and CTO Chang, will engage in discussion with APEC member economy representatives and exchange views extensively on issues including regional economic development. On November 14, the host will convene the AMM, to which Minister Liu and Minister Yang will lead delegations to attend.

On the morning of July 12, President Lai Ching-te met with a delegation from Micron Technology. In remarks, President Lai thanked Micron for its long-term investment in Taiwan, and for continuously advancing dynamic random-access memory (DRAM) technology in Taiwan. The president noted that the development and mass production of advanced DRAM technology has accelerated, spurring supply chain localization. He said that here in Taiwan, beyond offering high-efficiency production, our government also attaches importance to businesses’ needs, and will work to create a friendly living environment for international talent. President Lai expressed hope that Micron will continue to expand its research and development capacity here, working with local supply chain partners to seize AI business opportunities. A translation of President Lai’s remarks follows: First, I would like to welcome you all for this visit, which demonstrates trust and support for Taiwan. As we look toward our future, we know that semiconductors will be indispensable, and the AI wave has already swept in. Amidst this wave, Micron, as a major international firm, certainly plays an indispensable role. I would like to thank Micron for its long-term investment in Taiwan, and for continuously advancing DRAM technology in Taiwan. Last year, we witnessed the opening of a new Micron facility in Taichung. This accelerated the development and mass production of advanced DRAM technology, spurring supply chain localization. With the help of Micron working with us side by side, Taiwan’s semiconductor industry has secured a pivotal global role. Moving forward, our government will continue developing the semiconductor industry and accelerate Taiwan’s transformation into an AI island. Major chip designers such as AMD, Nvidia, and Infineon have now all announced plans to set up research and development centers in Taiwan. We also welcome further cooperation with Micron. High-bandwidth memory (HBM), for example, is crucial for AI applications, and is already being manufactured by Micron in Taiwan. I am confident that with Micron continuing to expand production in Taiwan, as well as collaborating on research and development with Taiwanese chip designers and chipmakers, we can maintain our leading position in AI development for our mutual benefit. Here in Taiwan, beyond offering high-efficiency production, our government also attaches importance to businesses’ needs. For example, we meticulously review power supply and demand on a rolling basis to ensure stable accessibility. We will also take action to relax regulations and promote programs targeting international business talent to continue expanding global recruitment. We will work to create a friendly living environment for international talent, and meet business demand. In closing, I would once again like to welcome you to Taiwan. We hope that Micron will continue to expand its research and development capacity here, working with local supply chain partners to seize AI business opportunities. I wish everyone a successful and productive visit.

On April 6, President Lai Ching-te delivered recorded remarks regarding the impact of the 32 percent tariff that the United States government recently imposed on imports from Taiwan in the name of reciprocity. In his remarks, President Lai explained that the government will adopt five response strategies, including making every effort to improve reciprocal tariff rates through negotiations, adopting a support plan for affected domestic industries, adopting medium- and long-term economic development plans, forming new “Taiwan plus the US” arrangements, and launching industry listening tours. The president emphasized that as we face this latest challenge, the government and civil society will work hand in hand, and expressed hope that all parties, both ruling and opposition, will support the measures that the Executive Yuan will take to open up a broader path for Taiwan’s economy. A translation of President Lai’s remarks follows: My fellow citizens, good evening. The US government recently announced higher tariffs on countries around the world in the name of reciprocity, including imposing a 32 percent tariff on imports from Taiwan. This is bound to have a major impact on our nation. Various countries have already responded, and some have even adopted retaliatory measures. Tremendous changes in the global economy are expected. Taiwan is an export-led economy, and in facing future challenges there will inevitably be difficulties, so we must proceed carefully to turn danger into safety. During this time, I want to express gratitude to all sectors of society for providing valuable opinions, which the government regards highly, and will use as a reference to make policy decisions.  However, if we calmly and carefully analyze Taiwan’s trade with the US, we find that last year Taiwan’s exports to the US were valued at US$111.4 billion, accounting for 23.4 percent of total export value, with the other 75-plus percent of products sold worldwide to countries other than the US. Of products sold to the US, competitive ICT products and electronic components accounted for 65.4 percent. This shows that Taiwan’s economy does still have considerable resilience. As long as our response strategies are appropriate, and the public and private sectors join forces, we can reduce impacts. Please do not panic. To address the reciprocal tariffs by the US, Taiwan has no plans to adopt retaliatory tariffs. There will be no change in corporate investment commitments to the US, as long as they are consistent with national interests. But we must ensure the US clearly understands Taiwan’s contributions to US economic development. More importantly, we must actively seek to understand changes in the global economic situation, strengthen Taiwan-US industry cooperation, elevate the status of Taiwan industries in global supply chains, and with safeguarding the continued development of Taiwan’s economy as our goal, adopt the following five strategies to respond. Strategy one: Make every effort to improve reciprocal tariff rates through negotiations using the following five methods:  1. Taiwan has already formed a negotiation team led by Vice Premier Cheng Li-chiun (鄭麗君). The team includes members from the National Security Council, the Office of Trade Negotiations, and relevant Executive Yuan ministries and agencies, as well as academia and industry. Like the US-Mexico-Canada free trade agreement, negotiations on tariffs can start from Taiwan-US bilateral zero-tariff treatment. 2. To expand purchases from the US and thereby reduce the trade deficit, the Executive Yuan has already completed an inventory regarding large-scale procurement plans for agricultural, industrial, petroleum, and natural gas products, and the Ministry of National Defense has also proposed a military procurement list. All procurement plans will be actively pursued. 3. Expand investments in the US. Taiwan’s cumulative investment in the US already exceeds US$100 billion, creating approximately 400,000 jobs. In the future, in addition to increased investment in the US by Taiwan Semiconductor Manufacturing Company, other industries such as electronics, ICT, petrochemicals, and natural gas can all increase their US investments, deepening Taiwan-US industry cooperation. Taiwan’s government has helped form a “Taiwan investment in the US” team, and hopes that the US will reciprocate by forming a “US investment in Taiwan” team to bring about closer Taiwan-US trade cooperation, jointly creating a future economic golden age.  4. We must eliminate non-tariff barriers to trade. Non-tariff barriers are an indicator by which the US assesses whether a trading partner is trading fairly with the US. Therefore, we will proactively resolve longstanding non-tariff barriers so that negotiations can proceed more smoothly. 5. We must resolve two issues that have been matters of longstanding concern to the US. One regards high-tech export controls, and the other regards illegal transshipment of dumped goods, otherwise referred to as “origin washing.” Strategy two: We must adopt a plan for supporting our industries. For industries that will be affected by the tariffs, and especially traditional industries as well as micro-, small-, and medium-sized enterprises, we will provide timely and needed support and assistance. Premier Cho Jung-tai (卓榮泰) and his administrative team recently announced a package of 20 specific measures designed to address nine areas. Moving forward, the support we provide to different industries will depend on how they are affected by the tariffs, will take into account the particular features of each industry, and will help each industry innovate, upgrade, and transform. Strategy three: We must adopt medium- and long-term economic development plans. At this point in time, our government must simultaneously adopt new strategies for economic and industrial development. This is also the fundamental path to solutions for future economic challenges. The government will proactively cooperate with friends and allies, develop a diverse range of markets, and achieve closer integration of entities in the upper, middle, and lower reaches of industrial supply chains. This course of action will make Taiwan’s industrial ecosystem more complete, and will help Taiwanese industries upgrade and transform. We must also make good use of the competitive advantages we possess in such areas as semiconductor manufacturing, integrated chip design, ICT, and smart manufacturing to build Taiwan into an AI island, and promote relevant applications for food, clothing, housing, and transportation, as well as military, security and surveillance, next-generation communications, and the medical and health and wellness industries as we advance toward a smarter, more sustainable, and more prosperous new Taiwan. Strategy four: “Taiwan plus one,” i.e., new “Taiwan plus the US” arrangements: While staying firmly rooted in Taiwan, our enterprises are expanding their global presence and marketing worldwide. This has been our national economic development strategy, and the most important aspect is maintaining a solid base here in Taiwan. We absolutely must maintain a solid footing, and cannot allow the present strife to cause us to waver. Therefore, our government will incentivize investments, carry out deregulation, and continue to improve Taiwan’s investment climate by actively resolving problems involving access to water, electricity, land, human resources, and professional talent. This will enable corporations to stay in Taiwan and continue investing here. In addition, we must also help the overseas manufacturing facilities of offshore Taiwanese businesses to make necessary adjustments to support our “Taiwan plus one” policy, in that our national economic development strategy will be adjusted as follows: to stay firmly rooted in Taiwan while expanding our global presence, strengthening US ties, and marketing worldwide. We intend to make use of the new state of supply chains to strengthen cooperation between Taiwanese and US industries, and gain further access to US markets. Strategy five: Launch industry listening tours: All industrial firms, regardless of sector or size, will be affected to some degree once the US reciprocal tariffs go into effect. The administrative teams led by myself and Premier Cho will hear out industry concerns so that we can quickly resolve problems and make sure policies meet actual needs. My fellow citizens, over the past half-century and more, Taiwan has been through two energy crises, the Asian financial crisis, the global financial crisis, and pandemics. We have been able to not only withstand one test after another, but even turn crises into opportunities. The Taiwanese economy has emerged from these crises stronger and more resilient than ever. As we face this latest challenge, the government and civil society will work hand in hand, and I hope that all parties in the legislature, both ruling and opposition, will support the measures that the Executive Yuan will take to open up a broader path for Taiwan’s economy. Let us join together and give it our all. Thank you.