Taiwan’s government has announced a NT$88 billion (US$2.7 billion) aid package to support local industries affected by recent US tariffs.

Premier Cho Jung-tai said NT$70 billion (US$2.12 billion) will go to the manufacturing sector and NT$18 billion (US$546 million) to agriculture.

The funds will come from a special budget and need parliamentary approval.

Key industries like electronics, IT products, steel, and auto parts are expected to be hit hard. Agricultural exports such as tea and fish may also see reduced demand.

The announcement comes after President Donald Trump declared a 32% tariff on imports from Taiwan under a reciprocal trade policy.