Philippine coastguards shot dead the 65-year-old last week after they said his vessel illegally sailed into Philippine waters, and outrage in Taiwan at the incident grew amid a perceived lack of remorse in Manila.
In a bid to contain the diplomatic fallout, Aquino sent Amadeo R Perez, chairman of the Manila Economic and Cultural Office which handles relations with Taiwan, to the island on today to act as his "personal representative" and apologise.
Premier Jiang Yi-huah said Taiwan acknowledged Lacierda's statement but deemed it "unacceptable" that the death was described as unintended.
"Perez did not have sufficient authorisation and this shows the Philippines' lack of sincerity in resolving the incident and therefore our second wave of eight sanctions are initiated immediately," Jiang told reporters.
These include a "red" travel alert urging Taiwanese not to visit the Philippines and the suspension of exchanges between high-level officials, as well as a halt to exchanges on trade and academic affairs.
Taiwan earlier today had suspended the hiring of Philippine workers and recalled its envoy to Manila in protest at the killing.
It rejected an initial apology made by the Philippines' de facto ambassador early today as inadequate.
President Ma Ying-jeou insisted Manila offer a formal apology and compensation, apprehend the killer and launch talks on the fishing industry.
"President Ma expressed his strong dissatisfaction over the Philippines' lack of sufficient sincerity and its shifting attitude, and found the Philippines' reckless and perfunctory response unacceptable," spokeswoman Lee Chia-fei told reporters.
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