Taipei, April 10 -- Taiwan's economy is set to take a notable hit from newly imposed US tariffs, with government officials warning of a sharp reduction in the country's GDP growth for 2025, Taipei Times reported.

National Development Council (NDC) Minister Paul Liu told lawmakers on Tuesday that based on preliminary assessments by a private research institute, the tariffs could lead to a drop in GDP growth ranging between 0.43 and 1.61 percentage points.

The 32 per cent reciprocal tariffs, which officially took effect yesterday, are expected to significantly impact Taiwan's economic momentum. Liu noted that the tariffs could push Taiwan's GDP growth below the previously forecast 3 per cent, and possibly even down to 1.53 per cent.

Thes...