Taiwan dollar appreciation unrelated to tariff negotiations: Foreign Ministry

The Foreign Ministry has clarified that recent appreciation of the Taiwan dollar against the U.S. dollar was unrelated to tariff negotiations with the United States. The statement comes after South Korean media quoted Bank of Korea Governor Rhee Chang-yong suggesting the U.S. is pressuring Asian nations to allow their currencies to appreciate.

Taiwan’s government says that the central bank had no role in tariff negotiations and is not part of the Taiwan-US economic and trade working group, which is led by Deputy Premier Cheng Li-chiun (鄭麗君) and was formed last November.

Media reports highlighted Rhee’s remarks implying coordinated U.S. pressure on Asian currencies. However, Taiwan's Chung-Hua Institution for Economic Research President Liang Hsien-ming (連賢明) says that Rhee’s statement was misinterpreted. He says the original Korean transcript expressed market speculation rather than confirmation of U.S. demands, and that the U.S. intentions on currency policy remain unclear.

07 May, 2025 Amber Hatfield
Radio Taiwan International