The ECCT arranged a Premium Event lunch with the new team at the European Economic and Trade Office (EETO, the EU’s representative in Taiwan), who all took office in September. At the event, EETO Head Lutz Güllner, Lukáš Gajdoš, Deputy Head, and Christoph Saurenbach, Head of the Trade Section, introduced themselves, offered their first impressions of Taiwan and their views on the political and business environment, EU-Taiwan trade and investment relations and the outcome of recent EU-Taiwan dialogues.

The last confirmation hearings for the incoming European Commission are set to be wrapped up soon and the new commission is expected to take office at the beginning of December.

There have been many changes in the EU over the past few years, especially since Russia’s war on Ukraine. There is now also much greater interest in Taiwan for both economic and geopolitical reasons. Taiwan is now seen in Europe as an important self-standing actor. While the EU and Taiwan are mostly aligned in their support for the international rules-based order and the protection of human rights, some differences remain, such as Taiwan’s maintenance of the death penalty.

In the economic sphere, there are still a few barriers to trade and a number of irritants but also opportunities for cooperation in key areas. One area where there has not been much bilateral interaction to date is in digitalisation, especially since this is a priority area for both the EU and Taiwan.

Progress made in recent meetings between the EU and Taiwan representatives at the WTO on wind energy localisation rules indicate that Taiwan authorities take WTO rules seriously and wish to maintain harmonious relations with its trading partners.

If the incoming administration of US President-elect Trump implements large tariffs on imports (as Trump has threatened to do), it would have a significantly negative impact on trade across the globe. While there are certainly some risks to be aware of and monitor in Trump’s second term, they should not be exaggerated. Even though there are tensions in US-EU relations (even before Trump takes office), trans-Atlantic ties are strong and will not collapse under a Trump presidency. The second Trump term should, however, serve to heighten the sense of urgency for the EU to increase its own security and resilience. To some extent this is already happening and the EU is working much better than it did five years ago. Despite its flaws, the EU has many strengths that could be drawn upon to make further progress and enhanced cooperation with Taiwan would benefit both the EU and Taiwan.