Premier meets with US-Taiwan Business Council

副總統會見美台商業協會

TAIPEI (Taiwan News) — Premier Chuo Jung-tai (卓榮泰) received US-Taiwan Business Council President Rupert Hammond-Chambers and his delegation on Tuesday with the hopes of expediting ongoing tariff negotiations and the swift signing of a double taxation avoidance agreement.

Cho and Hammond-Chambers met in January before US President Donald Trump's inauguration. In their second meeting, a Cabinet press release said the meeting also covered topics such as advanced semiconductor technology, AI, and quantum computing.

Cho said his Cabinet has approved the AI Basic Act draft and sent it to the legislature for deliberation. After passage, the act will outline the government's role in balancing individual rights to privacy and information autonomy, while improving legal mechanisms and regulations for AI industry oversight.

According to Cho, the Cabinet has also formulated ten new AI plans ranging from digital infrastructure to key technologies such as research and development of silicon photonics, quantum computing, intelligent robotics, and drones.

Regarding Taiwan-US trade, Cho said significant progress was made last year, with trade volume reaching US$158.6 billion (NT$4.82 trillion), a 24.2% annual increase. The US was also the largest destination for foreign investment at US$14.1 billion, accounting for 29.08% of Taiwan's total outbound investment.

Taiwan was also the beneficiary of US private sector investment, with Amazon Web Services investing over US$5 billion in Taiwan, Nvidia announcing the establishment of a global operations center in Taipei, and Google establishing its largest R&D center in Taiwan, demonstrating strong industrial cooperation between Taiwan and the US.

Chuo said he looked forward to the early signing of a double taxation avoidance agreement and hoped to quickly conclude tariff negotiations with the US to finalize tariff rates. He hoped the visiting delegation would be able to exert its influence at this critical juncture, conveying the business community's desire for an expedited conclusion to negotiations.

Hammond-Chambers said passage of the double taxation avoidance agreement is simply a matter of time pending a vote by the US Congress. He added that two-way investment will promote economic growth in Taiwan and the US, creating a win-win situation.