Taiwan’s president Lai Ching-te met with technology executives on Apr. 5, to discuss the impact of newly announced US tariffs.

The tariffs include a 32% duty on Taiwanese products, excluding semiconductors.

The meeting, held at Lai’s official residence, aimed to strategize responses to the economic challenges, according to presidential spokesperson Karen Kuo.

Local media reported that attendees included TSMC deputy co-chief operating officer Cliff Hou and Foxconn chairman Young Liu. TSMC and Foxconn did not respond to requests for confirmation.

Lai highlighted government efforts to support the industry and maintain global competitiveness.

On Apr. 4, Taiwan announced a NT$88 billion (US$2.67 billion) aid package for affected industries. Taiwan criticized the tariffs as unreasonable and plans to engage in talks with the US without retaliatory measures.