The island computer chip and electronics components hub is vulnerable to new import duties, so its economy ministry will advise on possible U.S. states for investment, local laws and help finding partners.

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.

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,

Taiwan will help companies relocate to the United States and help them find partners on US soil, following President Trump's new tariffs.

Taiwan's government has been swift to respond to the talk of huge tariffs by the recently inaugurated 47th president of the United States.

After Trump’s election in November last year, Foxconn and Taiwanese peer Quanta Computer Inc (廣達電腦) increased their investments in the US. Foxconn has secured land in California, Wisconsin and Texas, while Quanta’s board approved a US$230 million capital increase for its US unit.