Over 700 applications have been received for the Economic Ministry’s newly launched four major reciprocal tariff support measures. Following discussions with industry leaders this week, Economic Minister Kung Ming-hsin (龔明鑫) confirmed that the ministry will adopt industry opinions and review support measures.

To mitigate the impact of U.S. reciprocal tariffs on industries, the four support measures include increased preferential guarantees for export loans, increased diversified development loans for small and medium-sized enterprises, R&D transformation subsidies, and efforts to secure overseas orders. These measures aim to help industries address capital constraints, enhance technological capabilities, and strengthen their overseas market presence.

The Economic Ministry said that all four measures will be implemented with the principles of leniency, simplicity, and speed, with relaxed application requirements and simplified application documents. Since their implementation, over 700 applications have been submitted online or at physical counters. The subsequent review process will be conducted in groups, with relevant details taken into consideration. The approved subsidy amount for each application will be determined by the review committee as soon as possible.

Kung embarked on a consultative tour after taking office this week, meeting with seven major business groups and visiting central and southern Taiwan to discuss the current situation of various industries, including machinery, machine tools, woodworking machines, hardware, plastics, and fasteners.