The region’s economic ministry said it’s setting up a consultation hotline and consultation services for affected firms.

Duties would raise prices for a range of consumer goods, while scaring off further Taiwanese investments in the U.S., experts warn.

President Donald Trump has threatened to impose tariffs on Taiwan-made chips, which could hit Nvidia, one of TSMC's biggest customers.

On the first day of trading after the Lunar New Year holiday, Taiwan's Taiex tumbled over 3% on U.S. President Donald Trump's threat to impose tariffs on chip imports. Semiconductor manufacturer TSMC saw its share prices fall over 5%.