Taiwan’s government will soon look at whether it needs to help its domestic industry over threats by President Donald Trump to put tariffs on semiconductors, Premier Cho Jung-tai said on Wednesday.

Taiwan will support companies that plan to relocate to the United States, including helping them find partners, the economy ministry said on Monday, outlining assistance it will offer after U.S. President Donald Trump's new tariffs.

The market sold off this morning after President Donald Trump announced sweeping tariffs over the weekend to take effect Tuesday. The broader benchmark S&P 500 fell over 1.7%, as of 9:55 a.m. ET. Meanwhile,

Donald Trump has fired the first shots in what threatens to become a devastating trade war. The US president’s tariffs on Mexico, Canada and China will deliver an immediate shock to the North American and world economies. They imperil decades of progress towards economic integration that has boosted US and global prosperity.

Semiconductor business between Taiwan and the United States is a "win-win" model for both sides given the high level of complementarity, the government said on Tuesday in response to tariff threats from U.

US President Trump’s tariffs on Canada and Mexico have come as a major blow to Taiwanese manufacturers that have invested in facilities in Mexico, leaving them bracing for future tariff impacts.