Taiwan companies 'critical' to Trump's re-industrialization goals: AIT

Washington, May 11 (CNA) Raymond Greene, director of the American Institute in Taiwan (AIT), said Sunday at an investment summit that Taiwanese companies will be "critical" to the achievement of President Donald Trump's goal of re-industrializing the United States.

Greene made the remarks at a reception for Taiwan's delegation at the U.S. Department of Commerce's 2025 SelectUSA Investment Summit, which is being held in Maryland from Sunday through Wednesday.

In a speech welcoming the delegation, Greene noted that only 10 years ago, 80 percent of Taiwan's foreign investment went to the People's Republic of China.

In 2024, more of Taiwan's foreign investment went to the United States than to any other country, he said.

Just as Taiwan's companies were crucial to the industrialization of China 30 years ago, "we expect Taiwan companies to be just as critical to achieving President Trump's mission for re-industrializing the United States," Greene said.

Greene said the AIT has helped support the growing interest of Taiwan companies in America, particularly in fields like semiconductors, AI, and quantum technology.

The Taiwan delegation to the 2025 SelectUSA summit was the largest among all the participants, he noted.

Cabinet Secretary-General Kung Ming-hsin (龔明鑫), who is leading the Taiwan delegation, and Economics Minister Kuo Jyh-huei (郭智輝), also spoke at Sunday's reception, urging the U.S. Congress to pass legislation to prevent double taxation between Taiwan and the U.S.

The United States-Taiwan Expedited Double-Tax Relief Act was approved by the U.S. House of Representatives in January and must be passed by the Senate and signed by the president to become law.

In a statement last week, Taiwan's Cabinet said the delegation to the 2025 SelectUSA Investment Summit would include representatives from industries such as ICT, semiconductors, AI, chemical engineering, biotechnology, smart manufacturing, aerospace, and financial services.