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Author: Shirley Lin
Published Date: 2019-05-06
Published Date: 2019-05-06
The economics ministry says that US President Donald Trump’s announcement that he will raise tariffs on Chinese goods presents a good opportunity for Taiwan.
Economics Minister Shen Jong-chin told the legislature on Monday that Taiwanese businesses could take the opportunity to move their operations from China back to Taiwan.
Trump tweeted on Sunday that tariffs of 10% on certain Chinese products would rise to 25% tariffs on May 10 if China continues to stall on reaching a trade deal with the US.
Shen said Taiwanese companies with operations in China are vulnerable if they are involved in the supply chain of goods affected by the tariffs. He says, though, that this could facilitate the return of Taiwanese businesses, which could take advantage of government’s incentives for investing back in Taiwan.