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Author: Natalie Tso
Published Date: 2019-06-04
Published Date: 2019-06-04
The US-China trade war has led to a decrease in export orders for Taiwan. Earlier, the economics ministry had predicted that orders would go back up in July due to the peak season. But the increased trade tensions between the US and China have changed that outlook for Taiwan exports.
The economics ministry said that the trade war has influenced the electronics and high tech industry and there are still many uncertainties. It said it could take longer for export orders to go up again.
The ministry said, though, there hasn’t been a drastic change in orders, such as in the past Asian financial crisis. Many companies have had time to adjust their plans and buffer the effects of the trade war. The ministry also said that it would continue to monitor the trade war and use this opportunity to transform Taiwan’s industries.