Government plans to widen assistance program for employees
Revised Article:
Let's talk about the recent expansion of a worker support program initiated in Taiwan. Originally designed to aid workers in sectors dealing with rubber products, machinery, and vehicle parts, this program now extends a helping hand to those hit by the US tariffs.
Minister of Labor Hung Sun-han made the announcement on a Wednesday meeting, noting that the Employment Stabilization Initiative Advisory Committee agreed to this decision earlier this month.
To identify the sectors most impacted by the tariffs, the Ministry of Labor is collaborating closely with the Ministry of Economic Affairs. The selection will be based on the potential havoc those tariffs could wreak on each sector, Hung explained.
The funding for the expanded part of this initiative will come from the NT$93 billion relief package first announced on April 4. A part of this, NT$15 billion, is ear-marked specifically for the expanded worker support program.
Initially, the tariffs, announced by US President Donald Trump, were a whopping 32% on Taiwanese exports (excluding semiconductors). However, they've been paused for 90 days, leaving things unclear about the final tariff rate.
On the initial program, workers at furloughed companies in the prior mentioned sectors were eligible for subsidies up to NT$8,700 per month, for each month they were out of work for at least 30 days.
With the expansion, applicants will need to satisfy three additional eligibility criteria, as per Hung's statement. They must work for a company registered with the International Trade Administration, present documented proof of exports to the US in the past three years, and demonstrate that their company's export revenues have taken a hit due to the tariffs.
This expanded program aims to offer assistance in a time of need and help businesses navigate these challenging times. Stay tuned for updates on the identification of new sectors that will be included in this initiative.
- The expanded worker support program in Taiwan, resulting from US tariffs, will now provide assistance to sectors outside of rubber products, machinery, and vehicle parts, as announced by Minister of Labor Hung Sun-han.
- The Ministry of Labor and the Ministry of Economic Affairs are collaborating to identify the sectors most impacted by the tariffs, with eligibility dependent on factors such as registration with the International Trade Administration, export history to the US, and revenue losses due to the tariffs.
- The funding for this expanded initiative comes from NT$93 billion relief package announced on April 4, with specific allocation of NT$15 billion for the expanded worker support program.
- The recent politics of trade relations, particularly the tariffs imposed by US President Donald Trump, have created a need for stabilization and financial aid within certain businesses in Taiwan's general-news headlines.
