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.

In a recent interview with Buck Sexton, a host of the American radio program The Clay Travis and Buck Sexton Show, President Lai Ching-te responded to questions regarding cross-strait relations, the regional landscape, national defense, the economic and trade partnership between Taiwan and the United States, and Taiwan’s social welfare policies. The interview was broadcast on the early morning of October 7. Following is the text of the questions and the president’s responses: Q: One of the things we’ve noticed that has already gotten some attention back in the States is the sense of civic responsibility here, how respectful and law-biding everyone is, how safe everyone feels on your streets. It is inspiring to tell Americans about this. I also wanted to ask you about the situation right now with your neighbor, China. There’s obviously a lot of global concern about a sense of rhetoric heating up, a sense that there is a pathway now that is becoming more imminent that there could be a crisis. How do you want to describe the situation right now, for specifically an American audience? President Lai: First of all, I am very glad that you have seen a lot of things during your stay in Taiwan and that you are having a fruitful trip so far. I also want to thank you for commending our civil society. In the international community, Taiwan is often lauded as being a place where the most beautiful scenery is actually its people. Recently, due to a typhoon, a barrier lake overflowed in Hualien, causing a significant number of injuries and deaths. Streets and houses were covered in mud. Taiwanese society mobilized to help people affected. We had a long holiday weekend this past weekend. On the first day, 30,000 people traveled to Hualien to offer assistance. And on both the second and third days, another 40,000 went, meaning that over 100,000 people, of their own accord, took their shovels to help those affected. In our society, these people were referred to “superheroes with shovels.” So you can feel that in Taiwan there is a lot of warmth. People are kind. So our streets, at nighttime or daytime, are generally very safe. Your question was about Taiwan’s relations with China. I very much hope that everyone in the world who pays attention to Taiwan-China issues can be clear about several things. Firstly, the Republic of China and the People’s Republic of China are not subordinate to each other. Taiwan is not a part of the PRC. China does not have the right to invade Taiwan. Secondly, China has been holding military exercises in the Taiwan Strait, undermining peace and stability in the region. So it is China – not Taiwan – that is disrupting the cross-strait status quo. The fact that the Taiwanese people seek to protect their sovereignty and pursue a way of life based on democracy, freedom, and human rights should not be seen as a provocation against China. Thirdly, even though Taiwan is facing increasing threats from China, Taiwan has not given up on seeking peace and mutual prosperity across the strait. We understand that peace is priceless and that there are no winners in war. Peace and stability across the Taiwan Strait are essential elements of global security and prosperity. Our pursuit of peace is an ideal, not a fantasy. We believe that to achieve peace, there must be strength. Since taking office, I have implemented the Four Pillars of Peace action plan. The first pillar is strengthening Taiwan’s national defense. Our defense spending, as defined by NATO, will reach 3.32 percent of GDP next year. And this will increase to 5 percent of GDP by 2030. We are procuring arms from the United States and partners across the international community. At the same time, we are promoting indigenous defense capabilities. We will work with the international community to codevelop arms, including R&D, design, and manufacturing. This will allow the domestic defense industry to grow and contribute to Taiwan’s security. Drones, unmanned submarines, and robotics are all areas that Taiwan will prioritize in the future. The second pillar is enhancing our economic resilience. In 2010, 83.8 percent of Taiwan’s outbound investment went to China. But last year, this number was only 7 percent. The United States is now Taiwan’s largest destination for outbound investment. In other words, we are not putting all of our eggs in the same basket. We hope that Taiwan’s industries will be rooted in Taiwan, deploy globally, and market across the world. This will not only strengthen our economy but also make it more resilient, thereby safeguarding Taiwan’s security. The third pillar is standing together with the United States and other free and democratic countries to bolster joint deterrence. This will allow us to prevent war by preparing for one. And fourthly, Taiwan is willing to engage in dialogue with China based on parity and dignity. Through exchanges and cooperation, we can achieve the goal of peace and mutual prosperity. I noticed that US President Donald Trump once said publicly that Xi Jinping actually called him and stated that he would not attack Taiwan during President Trump’s term in office. We hope that Taiwan will continue to enjoy the support of President Trump. If he is able to convince Xi Jinping to permanently renounce the use of force against Taiwan, President Trump will surely win the Nobel Peace Prize. Q: If you could speak directly to President Trump about Taiwan’s situation right now, the security situation more specifically, what would you want him to know?  President Lai: If I had the chance to meet President Trump in person and talk about the current cross-strait situation, I would suggest that he take note of the fact that Xi Jinping is not just holding ever-larger military exercises in the Taiwan Strait but expanding China’s military deployment in the South and East China Seas. China’s military exercises now extend across the Indo-Pacific region. Its aircraft carriers are moving beyond the first island chain and second island chain. And its northern fleet even sailed around Japan for a week. Chinese naval vessels also conducted live-fire exercises in Australia’s exclusive economic zone. The situation in the Indo-Pacific region is changing constantly, and tensions are rising. So the issue is not only a possible annexation of Taiwan. If it is able to annex Taiwan, China will be in a stronger position to compete with the United States and alter the rules-based international order. This would eventually also impact US interests. So we hope that President Trump can continue to maintain peace and stability in the Indo-Pacific. Taiwan is determined to ensure its national security. We will fulfill our responsibility and work with free and democratic countries to maintain regional peace and stability. Q: Because America has learned some difficult lessons about foreign policy and foreign policy intervention, there is a focus on partners who will carry their weight for their own defense and have a willingness to fight. If anyone in America, policymaker or citizen, has a question about whether Taiwan is willing to defend its own sovereignty, what would you say to them? President Lai: I would tell them that Taiwan is absolutely determined to ensure its own national security. Peace and stability across the Taiwan Strait are indispensable elements in global security and prosperity. So when Taiwan looks after its own national security, it shows that Taiwan is committed to protecting regional peace and stability as well. That is why, as I mentioned before, we are continuing to increase our national defense budget. So during former President Tsai Ing-wen’s term, the national defense budget was increased from 1.9 percent of GDP to 2.5 percent. Next year, it will reach 3.32 percent. And we hope to increase this to 5 percent by 2030. This would be five years earlier than NATO’s own goal. Also, we have established the Whole-of-Society Defense Resilience Committee under the Office of the President. This committee brings various sectors of Taiwan together and combines the strengths of the public and private sectors to carry out exercises and drills that enhance whole-of-society defense. I also convened a high-level national security meeting in which we defined the Chinese Communist Party regime as a foreign hostile force; and I proposed 17 strategies to address the five major threats we face from China. These will translate into more than a hundred amendments to our national security laws, which will be reviewed by the Legislative Yuan during the current session. This will put Taiwan on a stronger legal footing, bolster its national defense, and allow people to contribute their power toward safeguarding our nation and protecting regional peace and stability. I believe that people help those who help themselves. So I very much agree with your idea that Taiwan and other countries should meet their own responsibilities. Only by helping ourselves can we expect help from others. And when we show unity and work together, that is when deterrence is at its strongest; and that is when we will be able to safeguard peace and stability in the world. Q: Obviously, there’s a tremendous global and American, specifically, interest in artificial intelligence and the future of it. Also very interesting is the incredible facility that TSMC has built and is building out more in Arizona. I would like to ask you to speak to the economic partnership, specifically in advanced technology, microchip manufacturing, and artificial intelligence, and the relationship between Taiwan and America going forward, and how you view that to grow and bring prosperity for both countries. President Lai: So we all know that Taiwan’s technology industry has performed well. This is the result of decades of cooperation among Taiwan’s industries, government, academia, and R&D sector, as well as the support of the Taiwanese people. But I must also note with appropriate humility that TSMC and the Taiwanese semiconductor industry are still only one part of a bigger ecosystem, and do not represent the whole system. So if you look at the entire semiconductor ecosystem, the United States is strong in areas such as innovation, R&D, and design. And it is also the biggest market. Japan is strong in raw materials and related equipment. And the Republic of Korea, they have flash memory. Taiwan’s strength is in wafer manufacturing. And the Netherlands makes the critical equipment that is used to make semiconductors. But in the whole ecosystem, you can see that around 80 percent of profits go to the United States. So for semiconductors, I would say the United States is still the leader in this ecosystem. Looking ahead, as we face the AI era, every nation in the semiconductor ecosystem will be extremely important. And the United States will continue to lead the world in this. So Taiwan is very willing to work with the United States to achieve this goal. We want to help the United States reindustrialize and become a global AI hub. We want the United States to continue to lead the world in this new AI era and we want to help make America great again. So with regard to Taiwan’s semiconductor industry, we see it as an important responsibility in terms of ensuring the world’s future prosperity. That is why the Taiwan government has been very supportive of TSMC’s investments in the United States and Japan, as well as Germany. In the future, when the United States has reindustrialized and become a global AI hub, I am sure that TSMC will continue to play a crucial role. Q: Over the course of meetings with various members of your government, I learned something very interesting that has to do with family formation, a problem we have also started to look at in America. It will be very interesting, I think, to the American audience, to hear of countries that are trying to use policy to address issues like encouraging marriage and encouraging children so that a society can replenish – so that there is replenishment and there is resiliency. Could you please speak to some of the ways that you are encouraging people to have more kids here? What is Taiwan doing and how are those initiatives going so far? President Lai: I am very glad that you look positively at what we have been doing in Taiwan. Actually, Taiwan’s policies were made with reference to what the United States and other countries have been doing. Concerning our strategies: first, the government is supporting families in jointly raising children from birth to six years old by providing monthly subsidies. Tuition is also free for both public and private high schools and vocational schools. We also have a long-term care system for senior citizens. Across Taiwan, there are some 15,000 service centers with around 100,000 long-term care staff who look after seniors over the age of 65 as well as people with disabilities so that they can receive quality care. Young people who want to get married and have children are given priority in applying for social housing. If they want to buy a home, they can get government funding to subsidize the interest on their mortgage. And if they are renting, they can get a rent subsidy from the government. For couples who are having problems conceiving, the government subsidizes fertility treatment. We are also cutting taxes. Taiwan’s government is currently investing more in our society and cutting taxes by more than ever before in our history. These initiatives will help our young people feel confident that they can get married, have children, and will be able to raise them. I note that President Trump is also cutting taxes. We want to reduce the burden on households so that more people can start a family. This will promote social stability, prosperity, development, and continual growth for the country.