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.

President Lai Ching-te on the morning of October 10 attended the ROC’s 114th Double Tenth National Day Celebration in the plaza fronting the Presidential Office Building, and delivered an address titled “A New Taiwan Rises in a Time of Change.” A translation of the president’s address follows: National Day Celebration Chairperson Han Kuo-yu (韓國瑜), Vice President Bi-khim Hsiao, Premier Cho Jung-tai (卓榮泰), Her Excellency the Governor-General of Belize Froyla Tzalam and Mr. Daniel Mendez, His Excellency the Governor-General of St. Lucia Errol Charles and First Lady Anysia Charles, President of the Chamber of Deputies of the Republic of Paraguay Raúl Latorre, Japan-ROC Diet Members’ Consultative Council Chairman Furuya Keiji, heads of delegations from diplomatic allies and friendly nations, members of the foreign diplomatic corps in Taiwan, distinguished guests from home and abroad, and my fellow citizens here in person and watching on TV or online: Good morning. Today is the National Day of the Republic of China, and while we gather every year to celebrate the nation’s birthday, this year is an especially significant one. It is a historic year for Taiwan’s democratization. One month ago, September 10, was the historic date when the number of days Taiwan had spent free from martial law officially surpassed the number of days endured under its stifling rule. This signifies that we have parted entirely from an authoritarian regime and its shadow, and have ushered in a democratic future full of hope. We will not forget the blood and tears of those who united to defend against aggression, nor will we forget the selfless sacrifices of past generations in pursuit of democracy and freedom, granting sovereignty to the people. Those stories, which have become woven into the fabric of our land, are our collective memory. Democratic Taiwan, forged through untold hardships, is what most clearly positions the 23 million people of Taiwan, Penghu, Kinmen, and Matsu in this world. Taiwan is a beacon of democracy in Asia. For every person still living in darkness under authoritarian rule, we forever shine the light of hope. This year also saw Taiwan’s rise. Nations around the world are suffering drastic changes and challenges, and Taiwan is no exception. In addition to the Russia-Ukraine war, turmoil in the Middle East, and China’s continued military expansion, the United States’ tariff policy has delivered a blow to economies and industries alike. But the people of Taiwan are still on their feet. And not only that – this year’s economic performance greatly impressed the global community. According to the Asian Development Bank’s latest report, Taiwan’s economic growth rate this year leapt from 3.3 to 5.1 percent, leading the Four Asian Tigers and surpassing China. Taiwanese exports have continued to reach record highs, and employment is at its best in 25 years. Our stock market has also risen for six consecutive months, hitting an all-time high of 27,301 points. Taiwan’s market capitalization has topped US$3 trillion, making our stock market the world’s eighth largest, and foreign exchange reserves surpassed US$600 billion for the first time, setting a new record. In the midst of adversity, we remain undaunted. In the midst of challenges, we grow ever stronger. These are achievements that the people of Taiwan made together. Let us all celebrate them!  These impressive economic accomplishments also reflect the stellar record of Taiwan’s semiconductor, ICT, electronic component, and other leading industries. Their advantageous position in the global supply chain is the result of long-term key policies for the development of technological and manufacturing capabilities, unique business models, and government-led science parks. This is a monumental industrial achievement forged by decades of combined efforts, and it belongs to all the people of Taiwan. As president, it is my mission to protect these valuable assets and use them to boost Taiwan’s and even worldwide industrial and economic growth, helping to create even better lives for people in Taiwan and around the world. This is also the direction Taiwan is taking. Of course, we will certainly not ignore the formidable challenges in this time of global change, and the risks they pose to different industries, different fields, and groups of different backgrounds. Many of the champions, traditional industries, and micro-, small-, and medium-sized enterprises (MSMEs) leading Taiwan’s economic growth from behind the scenes are facing the pressure of the digital and net-zero transition. Many workers feel concerned and uneasy about job opportunities, salaries, commodity prices, and cost of living in the face of the AI wave. Farmers are also being impacted by an aging rural population and market liberalization. The government will not take these challenges lightly, and will not ignore the impact they have on each and every citizen. It is our responsibility to put our full effort into assisting traditional industries, MSMEs, working families, and those in the agricultural and fishing industries. Therefore, in addition to having proposed a 93-billion-NT-dollar tariff impact support plan to help enterprises, workers, and those in the agricultural and fishing industries weather this difficult time, the government will also be investing tens of billions of dollars each year to help MSMEs introduce AI into their work so they can move toward digital and net-zero upgrading and transformation and address challenges. For traditional machine tools, screws and nuts, and other industries that are facing difficulties, we will also be proposing separate countermeasures to actively help boost competitiveness and expand the market. My fellow citizens, times of change are also times of opportunity. Taiwan’s economic performance is clear for all to see, and our key position in the global supply chain can neither be challenged nor replaced. In the face of change, we must not doubt ourselves or waver, but seize opportunities with confidence and bravely follow through. We must not be complacent or turn back, but even more proactively forge ahead in the world. A Taiwan that is certain will serve as an important, reliable, and steady force for an uncertain world. Moving ahead, we will adopt three major strategies in order to ensure the Republic of China Taiwan’s competitive advantage: First, we will expand investment in Taiwan. Our Three Major Programs for Investing in Taiwan have yielded substantial results. Investment has surpassed NT$2.5 trillion, creating over 160,000 job opportunities. In July, the Executive Yuan extended the programs to 2027 while also expanding applicable industries and eligibility to include overseas Taiwanese businesses worldwide and foreign investing enterprises. The government is continuing to optimize the investment environment, adding NT$720 billion in new loans to attract investment in Taiwan and bring in an estimated NT$1.2 trillion in capital and 80,000 more job opportunities. Besides having good work, we should also have good lives. With this in mind, the government launched the Trillion NT Dollar Investment National Development Plan to encourage copious investment of private capital in public infrastructure through innovative public-private partnerships. It expands funding for construction while at the same time promoting critical infrastructure projects across counties and cities nationwide, in areas such as water, electricity, housing, education, healthcare, culture, tourism, and transportation. This will help meet local residents’ needs so they can live happy lives, and enable industries and spheres of living to develop in a complementary way so that we can achieve our goal of a balanced Taiwan. Second, we will deepen international economic and trade cooperation, and expand our global presence. This year, Taiwan and the United Kingdom, under the framework of our Enhanced Trade Partnership arrangement, additionally signed three pillar arrangements in investment, digital trade, and energy and net-zero. This marks a new milestone for Taiwan-UK economic and trade relations, showing our mutual commitment to high international trade standards and laying the foundation for cooperation in technology, advanced manufacturing, and other strategic industries. Moving ahead, Taiwan will sign bilateral economic and trade cooperation agreements with even more friends and allies while upholding the principle of mutual benefits. We will also actively engage in reciprocal tariff negotiations with the US to secure a reasonable rate, resolve the trade deficit between Taiwan and the US, and deepen industrial cooperation. This will enable Taiwan’s economic development to become more globally connected and thereby make great strides. Third, we are building a chain of “guardian mountains” to shore up Taiwan’s industrial capabilities. In this digital age, we will implement 10 new AI infrastructure initiatives. In addition to helping make Taiwan one of the world’s top five computing centers, we will also invest more vigorously in R&D in three key technological fields: quantum technology, silicon photonics, and robotics. This will facilitate the introduction of AI tools in different sectors and professions, and promote the application of AI in various fields, helping Taiwan move toward an era of comprehensive smart technology and continue to maintain its leading position in global tech development. We are also building Taiwan into a hub in Asia for asset management. This will not only help retain trillions in Taiwanese capital, but attract investment in Taiwan with international capital, promoting growth in the financial industry, creating quality job opportunities, and strengthening Taiwan. The biopharmaceutical industry is a key national industry and has thus been included in our National Project of Hope. We are also developing toward greater use of precision health in health maintenance, preventive medicine, diagnosis, treatment, and care, giving our nation durable competitiveness and advancing the well-being of our people. Next year, our National Infectious Diseases Bank will be completed, and Taiwan will continue stepping up its cooperation with other countries in the field of biotechnology. Through our program for investment in smart healthcare innovation and entrepreneurship, with its budget of NT$10 billion, we will encourage more firms to invest in innovative R&D, expand investment, and move the biomedical industry toward becoming a trillion-NT-dollar industry, which will be one more guardian mountain for our nation. My fellow citizens, Taiwan is for all the people of Taiwan. We are well aware that no matter how impressive our economic performance may be, we must not overlook anyone on this land. The fruits of our economic growth should be enjoyed by all our people. Good numbers should translate into good lives, with no one left behind. Helping our citizens stay healthy, nurturing young talent, creating an even better environment for the younger generation, and providing greater support for young families is the government’s absolute responsibility. The Healthy Taiwan Cultivation Plan, launched this year, is improving the medical environment and system overall and will ensure higher quality healthcare services for all citizens. Also this year, we officially established the Ministry of Sports, ushering in a new era of sports for all, competitive sports, and professional sports. With this new ministry, we aim to ensure that all athletes receive full national support so that they can pursue their dreams on the global stage, winning national glory. In addition, to support our young people, we are providing free tuition for high schools and vocational schools, and an NT$35,000 annual tuition subsidy for students of private junior colleges, colleges, and universities. Our Taiwan Global Pathfinders Initiative, which supports young people aged 15 to 30 in pursuing their dreams abroad, is officially underway. Moreover, for renters, the government provides NT$30 billion in annual rent subsidies. Unmarried renters with an annual income below NT$626,000, families of four with a combined annual income below NT$1.641 million, and households with three generations living together with a combined annual income below NT$2.1245 million will be exempt from individual income tax. We will also provide even greater support to the young parents in our society. In addition to promoting version 2.0 of our national childcare policy for ages 0–6, with increased childcare allowances and expanded childcare subsidies, starting next year, the government will provide an increased birth subsidy of NT$100,000 per child. Nor do our senior citizens need to worry. Next year, with the launch of Long-Term Care 3.0, the government will work hard to ensure that all seniors receive more convenient, more comprehensive care. Our goal is to ensure that all to whom the nation belongs – our children, young people, parents, and grandparents – receive better care so that they can face the future with greater confidence. This year also marks the 80th anniversary of the end of World War II. The lessons of World War II are still fresh in our memory. The ambitions of the aggressors in that conflict caused widespread devastation and loss of life. In today’s world, authoritarianism continues to expand and the international order faces severe challenges. Regional order in the Taiwan Strait, East China Sea, and South China Sea, and even the security of the entire first island chain, are under serious threat. Democratic Taiwan is a crucial link for the peace and stability of the Indo-Pacific and a responsible member of the international community. As such, Taiwan will work to uphold the status quo, ensure peace and stability across the Taiwan Strait, and promote the prosperous development of the region. We look forward to the day when China can take responsibility as a major power and cease its distortion of United Nations General Assembly Resolution 2758 and historical World War II documents. We also hope it will renounce the use of force or coercion to change the status quo across the Taiwan Strait so that we can jointly maintain the peace and stability of the Indo-Pacific. Looking back at World War II, we see that so many experienced the suffering of war and the pain of invasion. We should learn from these lessons and ensure that the tragedies of history are never repeated. The outcomes of that conflict tell us that aggression fails, unity prevails, and that peace is won through strength. I want to declare to our citizens and the international community: At the end of this year, we will be proposing a special budget for national defense. Defense spending, as it is defined by NATO, will exceed 3 percent of GDP next year, and will reach 5 percent of GDP by 2030, showing our determination to safeguard the nation. The increase in defense spending has a purpose; it is a clear necessity to counter enemy threats and a driving force for developing our defense industries. Through our new defense budget, we aim to achieve three major goals: First, we will accelerate our building of the T-Dome, establish a rigorous air defense system in Taiwan with multi-layered defense, high-level detection, and effective interception, and weave a safety net for Taiwan to protect the lives and property of citizens. Second, we will advance the integration of high-tech and AI technologies to build a smart defense combat system, maximizing effective deterrence for our asymmetric strategy. Third, we will continue to invest in innovative defense technologies and collaborate with the military industries of advanced nations to bolster our defense industry capabilities. We will strengthen our domestic supply chains through local R&D, design, and manufacturing. This will enable Taiwan to accelerate industry upgrades, enhance the resilience of our military equipment, and boost the capacity of our defense industry. In that way, Taiwan, becoming a trusted security partner for our friends and allies, can jointly avoid the red supply chain and foster trust in defense among free and democratic countries, while building a robust line of defense to safeguard the values of freedom and democracy. We are determined to maintain peace through strength. We firmly believe that strength is not obtained through military strength alone, but must also rely on resilience throughout society. Over the past year, through the efforts of the Office of the President Whole-of-Society Defense Resilience Committee, we have built up greater strength between the government and private sector, and between the central and local governments. We have integrated disaster prevention and defense to strengthen military-civilian cooperation. We have also continued to strengthen resilience in civilian training, energy, healthcare, information and communications networks, and finance, comprehensively enhancing our ability to respond to various crises. I want to emphasize that building societal defense and resilience requires every ounce of effort. Last month, we released our updated national public safety guide, which includes strategies for responding to various natural disasters and even extreme scenarios such as a military invasion. We plan to gradually ensure that each and every household has access to this safety guide, because only when all of society participates and learns to help themselves and one another can Taiwan develop greater resilience to face all kinds of challenges. My fellow citizens, over the past year, we have faced numerous challenges together, but the people of Taiwan never give up hope. Whenever a crisis arises, we always see numerous Taiwanese standing on the frontline, selflessly dedicating themselves to the nation they love. Just last month we saw two very moving scenes. The first was at the UN General Assembly held in New York, where many members of the overseas Taiwanese community raised money and launched a fundraising campaign to light up Times Square with advertisements to “Chip in with Taiwan,” promoting Taiwan’s participation, and advocating that we are “Better Together.” It touched the hearts of people around the world. The second was the tens of thousands of volunteers who, after the Fata’an Creek barrier lake disaster, slipped on their rain boots, shouldered their shovels, and traveled great distances to provide relief to help the affected residents of Hualien return to normal life as soon as possible.  These “superheroes with shovels” did more than dig out heavy mud and sludge to help disaster victims return home; these heroes also uncovered a light – a light of hope that warmed every heart it touched. More than that, they proved the remarkable resilience of the Taiwanese people and their resolve to protect our homeland in the face of crisis. Now, let us all thank these superheroes of disaster relief, who come from all walks of life and from all over the country, as well as friends from abroad and the military, police, firefighters, and central and local government personnel who devoted themselves to the relief effort. This spontaneous nationwide movement is absolutely unique in the world, and for that the world will remember: Taiwan, that small mountainous country, is truly compassionate, and truly great! Moving forward, I will continue to lead the country, hearts united, without fear of hardship or challenge, bravely, toward an even better tomorrow. Let’s keep going, Taiwan! Let’s keep going, Republic of China! Let’s keep going, Republic of China Taiwan! Thank you.