Support will also be provided for agriculture affected by US tariffs

Taiwan has allocated €2.7 billion for the project. Taiwan has allocated US$2.2 million to help industries affected by the new tariffs imposed by US President Donald Trump, the island's government said on Friday.

„The plan aims to meet the various needs of industry and society in the future,“ Prime Minister Cho Jung-tai explained to reporters, pointing out that the main beneficiaries will be the industrial and agricultural sectors.

Taiwan sought to avoid the tariffs threatened by Trump by pledging to invest more in the United States and to buy more energy resources from the US, but was still hit with an import tax of as much as 32%, although semiconductor chips will not be subject to the tax.

The government has called such duties "completely illogical" and "unfair", and is now seeking to enter into negotiations with Washington.

Taiwan's trade surplus with the United States is the seventh-largest among all countries, reaching $73.9 billion in 2024. US$7 billion by 2024.

About 60% of Taiwan's exports to the United States are information and communication technology products, including microchips.