Last week, the Executive Yuan passed a law referred to as the "Special Tariff Conditions" in response to the impacts of the Trump administration's tariff war. However, there are questions about whether this law is sufficient to mitigate the economic shocks caused by the tariff war. From one perspective, these responses may completely overlook or neglect other more fatal challenges.

For instance, the U.S. attention to Taiwan's semiconductor technology and the risks associated with the so-called "century bonds". Following the announcement of equivalent tariffs on April 2, Taiwan, along with many other countries, requested low tariffs in negotiations with the U.S. However, these responses may not be adequate and may miss even more critical issues.

The U.S. demands in negotiations exceed typical tariff issues, including military funding, exchange rates, and trade deficits, making Taiwan's challenges increasingly complex. Furthermore, as the U.S. increases pressure for Taiwanese semiconductor firms, particularly TSMC, to invest in the U.S., the Lai administration should prioritize protecting Taiwan's semiconductor industry as an urgent and vital task.

Additionally, the so-called “Mar-a-Lago agreement” circulating on Wall Street must also be taken seriously. This agreement essentially involves swapping short-term U.S. government bonds for hundred-year bonds, which hints at deeper financial risks. The U.S. national debt issue cannot be ignored, and these factors may significantly impact Taiwan's economy and foreign exchange reserves in the future.