President Tsai Ing-wen met with a delegation from the US-Taiwan Business Council (USTBC) on the morning of January 16. The president explained to her visitors that Taiwan is pursuing a "5+2 industrial innovation program" and the New Southbound Policy to promote industrial and economic transformation, and will continue to push for tax reform and deregulation this year to create a better investment climate. She also said she hopes to work with them to increase Taiwan-US trade and investment.