Taiwan President Lai Ching-te said on Friday that the new 20% tariff rate set by the Trump administration on goods imported from the island is "temporary", and the government expects to negotiate a lower figure.

Taiwan, which is set to face a 20% tariff following President Trump’s executive order, plans to keep negotiating and aims to bring down the rate. The 20% rate, while lower than the current 32%, wasn’t Taiwan’s goal,

The 20% tariff on Taiwanese exports to the US has been described as “temporary” by Taiwan’s President Lai Ching-te, who addressed reporters on Friday, and reiterated he will continue advocating for a “reasonable” rate.