Stories from Taiwan

Taiwanese farmers are expressing concern regarding 21 agricultural tariff adjustments in a trade agreement involving the United States. Taiwanese farmers are expressing concern about potential impacts from trade negotiations, fearing that other agricultural products might be used as bargaining chips. Taiwan's President chaired a security meeting to address farmers' concerns regarding a US trade deal. Farmers are urged to temper their emotions and rationally face the impending impact of the trade deal. The President of Taiwan chaired a sensitive security meeting.

Yunlin County Peanuts Farmers Association President Chang Li-shan warned that zero-tariff peanut imports from the United States could significantly impact local producers. He noted that US peanut prices could be half or even less than local prices due to the large price gap.

Taiwanese legislator Chen Shih-chung has proposed using a portion of securities transaction taxes to fund the national health insurance system. The proposal suggests allocating 0.3 percent of securities transaction tax to supplement insurance funds, similar to the tobacco tax model. The proposal suggests a 0.3% tax rate to address severe health insurance financial challenges. The proposal aims to ensure the system's financial balance for approximately 20 years. Tax scholars have questioned the suggestion, and civil groups expressed concerns that the funding would become too dependent on market volatility. The plan also includes raising the threshold for supplementary premium reforms. Civil groups expressed concern that relying on securities taxes could make health insurance funding dependent on market volatility.

Legislators in Taiwan are split regarding the scale of military procurement, with debate centering on whether the figure is 800 billion or 380 billion TWD. Vice chairman Johnny Chiang criticized Legislative Speaker Han Kuo-yu, threatening expulsion from the party if he prioritizes personal gain over party interests. The Ministry of National Defense submitted a proposal to the Legislative Yuan, but it remains contradictory. The proposed budget is NT$11.1 billion, with NT$2 billion already allocated in the annual budget, leaving approximately NT$9 billion, or NT$3 trillion, as a special budget. The Democratic Progressive Party (DPP) secretary-general indicated a willingness to accommodate a second wave of US arms sales, estimating the cost at approximately $80 million.

The Taichung Agriculture Bureau reported yesterday that it has assessed the current status of the industry and will issue subsidies of 2,000 TWD per kilogram. This initiative is part of a broader effort to provide support and services to rural communities. An agricultural bureau is offering subsidies to fruit farmers, with a program providing 1,000 yuan for farmers raising at least 30 chickens. An individual is actively assisting villagers by researching policies and introducing agricultural subsidies, such as a 1,000 yuan subsidy for raising over 30 chickens.

Taiwanese ADRs saw gains, with United Microelectronics Corp (UMC) leading a 9.35% increase following a share buyback implementation. TSMC ADRs rose 0.38%, while other semiconductor stocks like AMD increased by 4%.

The Taiwan People's Party has included a Taiwan independence resolution in its party platform for decades.

Chen Minghua stated firm opposition to the United States engaging in any form of military contact with the Taiwan region. The statement follows reports that Taiwan's defense department has signed multiple military procurement contracts with the United States. Chen characterized such actions as ineffective and unpopular. Chen said that such actions do not win public support and will not succeed. Chen asserted that the Democratic Progressive Party is acting as an ATM for the US military-industrial complex. China warned that US military cooperation with Taiwan puts the island in a more dangerous position. China stated that purchasing weapons will not change the inevitable outcome regarding Taiwan independence. Taiwanese Legislative Yuan President You Xiakuei held a third round of consultations regarding a special military procurement bill.

Taichung Mayor Lu Shiuyan visited temples and ate local snacks alongside New Taipei City Mayor Ko Wen-je, Kaohsiung Mayor Lee Sichuan, and KMT Mayor Ke Chih-en.