Minister: US-China trade deal won’t affect Taiwan business plans

Radio Taiwan Internatinal
Date: 14 October, 2019
By:Natalie Tso

President Tsai Ing-wen (second from right) and Economics Minister Shen Jong-chin (third from right）attend a ceremony on Saturday to mark the completion of Taiwan's first underwater pin piles assembly for its offshore wind turbines built by Century Iron and Steel Industrial Co. (CNA photo)

The US and China struck an initial trade deal on Friday. In it, China agreed to buy US$40-50 billion of agricultural products from the US. The US, on the other hand, has agreed to halt plans to raise tariffs from 25% to 30% on US$250 billion worth of Chinese imports.

Taiwan’s economics minister, Shen Jong-chin, told the legislature on Monday that the partial trade deal should not affect the strategy of Taiwanese companies. That’s because, he said, there will still be a 25% tariff on many Chinese goods.

The economics minister said the change in the global landscape and the relocation of Taiwanese companies’ production facilities, are both connected to long-term trends.    [FULL  STORY]