Taipei: Economics Minister Kuo Jyh-huei (???) expressed confidence on Thursday that U.S. President-elect Donald Trump's suggested 10 percent tariff on all U.S. imports will have a limited impact on Taiwan. However, he acknowledged that Trump's proposed 60 percent tariff on Chinese-made products could significantly affect Taiwanese companies operating in China. According to Focus Taiwan, Minister Kuo addressed concerns regarding Trump's comments about Taiwan paying "protection fees" and its implications on U.S. subsidies for Taiwan Semiconductor Manufacturing Co. (TSMC). Kuo stated that the job opportunities generated by TSMC's plants should ensure the U.S. CHIPS Act remains unrepealed, despite Trump's criticism of the Act in an interview with podcaster Joe Rogan. Trump labeled the CHIPS Act as "so bad," arguing that tariffs would suffice instead of providing financial incentives to wealthy corporations. In the same interview, Trump accused Taiwan of "stealing" America's chip industry and criticized the work ing conditions at Taiwanese giant Hon Hai's operations in China. Kuo dismissed Trump's allegation as a "misunderstanding," emphasizing that experts consider the U.S. and Taiwan to be complementary in the semiconductor supply chain. He highlighted that without Taiwan, American tech firms would face challenges in obtaining competitively priced advanced chips. Minister Kuo also emphasized that TSMC, while potentially expanding its U.S. operations, would likely retain its core technologies in Taiwan, thanks to existing laws on technology and skill protection. On the subject of trade negotiations, Yen Huai-shing (???), representing the Executive Yuan Office of Trade Negotiations, affirmed Taiwan's established trade relationship with the U.S. and the ongoing communication with Trump's team to strategize trade negotiations. Furthermore, Cynthia Kiang (???), head of Taiwan's International Trade Administration, noted that Taiwan and the U.S. had already signed an initial agreement under the "U.S.-Taiwan Initiative o n 21st-Century Trade." She clarified, however, that this agreement requires Congressional approval and will not be implemented immediately. Kiang assured that the Ministry of Economic Affairs will continue to prioritize Taiwan-U.S. trade dialogues once Trump assumes office.