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.

"Once a final agreement is reached, the tariff rate is expected to be reduced further," according to a Facebook post from Lai Ching-te, reiterated in a cabinet statement. The comments follow U.S. President Donald Trump's executive order on Thursday imposing tariffs ranging from 10% to 41% on U.

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,

U.S. trade partners around the world were reacting on Friday to President Donald Trump 's executive order that would introduce new tariffs on many of them in seven days, as the global economy and alliances face a fresh test from the president's trade agenda.

President Donald Trump signed an executive order Thursday that would have new tariffs on a wide swath of U.S. trading partners to go into effect in seven days — the next step in his trade agenda

U.S. President Donald Trump’s new tariff rates of up to 41% on U.S. imports from dozens of countries drew expressions of relief Friday from some countries that negotiated a deal or managed to

The order came as the White House announced agreements with various nations and blocs ahead of another self-imposed deadline.