Taiwan had sought to avoid Trump's threatened levies by pledging increased investment in the United States, more purchases of US energy, and greater defence spending.
“The Executive Yuan found the decision highly unreasonable and deeply regretted it, and will initiate serious negotiations with the United States,“ cabinet spokeswoman Michelle Lee said.
Around 60 percent of Taiwan's exports to the United States are information and communications technology products, or ICT, which includes semiconductor chips.
“The surge in US demand for Taiwan’s ICT products reflects Taiwan’s significant contribution to the US economy and national security, yet Taiwan is now being hit with high tariffs,“ Lee said.
Semiconductor chips, a sector that Taiwan dominates and has been a source of friction between Washington and Taipei, were excluded from the levies.
Taiwan had drawn up plans to help local industries hit by possible US tariffs, Minister of Economic Affairs Kuo Jyh-huei said Tuesday, ahead of Trump's announcement.
There had been hopes that Taiwan chipmaking titan TSMC's plan to invest $100 billion in the United States would shield the island from Trump's tariffs.
Trump has accused Taiwan of stealing the US chip industry and recently threatened to impose tariffs of up to 100 percent on semiconductor imports from there.
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