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Author: Paula Chao
Published Date: 2019-05-14
Published Date: 2019-05-14
President Tsai Ing-wen says domestic demand has propped up Taiwan’s economic growth in recent years.
The president was referring to the impact of the escalating US-China trade war on Taiwan. The United States has more than doubled tariffs on US$200 billion worth of Chinese products. In retaliation, China says it will raise tariffs on $60 billion of US goods from June.
Tsai said while the trade war has cast uncertainty on the global economy and caused shares in Taiwan to tumble, the government has spent two to three years working on structural transformation and boosting domestic demand.
Tsai said that because there are variables beyond Taiwan’s control, the government will focus on speeding up infrastructure projects and expanding domestic demand to boost the economy.