International
Trump's tariff threats push Taiwan to help firms move production from China
TAIPEI — Taiwan will help companies relocate production from China given the likely large impact from tariffs that incoming US President Donald Trump has promised to impose on the country, Economy Minister Kuo Jyh-huei said on Thursday (Nov 7). A th
TAIPEI — Taiwan will help companies relocate production from China given the likely large impact from tariffs that incoming US President Donald Trump has promised to impose on the country, Economy Minister Kuo Jyh-huei said on Thursday (Nov 7).
A threat by Trump, who will take office in January, to impose tariffs of 60 per cent on US imports of Chinese goods poses major growth risks for the world's second-largest economy.
Taiwanese companies have invested billions of dollars in China over the past four decades, taking advantage of historically lower costs, but Taiwan's government, wary of stepped up pressure from Beijing to accept Chinese sovereignty claims, has been encouraging its firms to move investment elsewhere.
Speaking in parliament, Kuo said the impact of any Trump tariffs on China for Taiwanese firms manufacturing there would be "quite large".
A threat by Trump, who will take office in January, to impose tariffs of 60 per cent on US imports of Chinese goods poses major growth risks for the world's second-largest economy.
Taiwanese companies have invested billions of dollars in China over the past four decades, taking advantage of historically lower costs, but Taiwan's government, wary of stepped up pressure from Beijing to accept Chinese sovereignty claims, has been encouraging its firms to move investment elsewhere.
Speaking in parliament, Kuo said the impact of any Trump tariffs on China for Taiwanese firms manufacturing there would be "quite large".