Business group leader asks for government help in response to U.S. tariffs

Taipei, April 16 (CNA) A Taiwanese business group leader on Wednesday made suggestions to the government, including suspending the collection of carbon fees until 2027, to help them respond to uncertainty generated by sweeping American tariffs on Taiwan's economic and industrial development.

Taiwanese businessman Lin Por-fong (林伯豐), the chairman of the Third Wednesday Association, an organization formed by Taiwanese business owners and leaders, made the suggestions on behalf of the sector.

Lin said that the 32 percent import duty U.S. President Donald Trump announced earlier this month for Taiwan is an unreasonable burden for Taiwanese businesses, adding that Taiwan's GDP growth could shrink to less than 1.5 percent due to the effects of U.S. tariffs.

As such, he proposed that the government help secure water and electricity supply, provide land rent concessions in industrial zones, and tax exemptions for businesses to keep them afloat.

Lin also suggested that the government should review the import tariffs that can be reduced, such as those on raw materials and automobiles, and should also consider reducing excise taxes, abolishing stamp duties, and cutting business taxes.

It should also provide favorable financing solutions, such as preferential loans and interest rate cuts for the industries, Lin added.

Noting that China accounted for more than 31 percent of Taiwan's total outbound sales last year, Lin said that the government should continue promoting economic and trade exchanges between the two sides across the Taiwan Strait to ensure the major export market of Taiwan.

Taiwan's exports to the U.S. last year accounted for 23 percent of total exports and if the U.S. implements the 32 percent tariffs on Taiwanese goods, Taiwan's exports to the country could fall by more than 21 percent, Lin said.