Nan Ya fears trade row will sap demand

UNCERTAINTIES: The trade spat between the US and China would likely affect Nan Ya’s electric material products, as the latest US tariffs target high-tech sectors

Taipei Times
Date: Jun 20, 2018
By: Kuo Chia-erh  /  Staff reporter

Nan Ya Plastics Corp (南亞塑膠), a major unit of Formosa Plastics Group (台塑集團), yesterday gave a conservative outlook for the rest of this year, saying that customer demand for its electric materials might weaken due to an escalating US-China trade spat.

Oil prices and US-China tensions are the two big uncertainties for Nan Ya’s operations, chairman Wu Chia-chau (吳嘉昭) told reporters on the sidelines of an annual shareholders’ meeting in Taipei.

US President Donald Trump on Monday directed the US Trade Representative to identify US$200 billion worth of Chinese goods for additional tariffs of 10 percent, escalating tensions between the world’s two largest economies.

The latest development came after the US last week announced a 25 percent tariff on up to US$50 billion worth of Chinese goods, prompting Beijing to respond with a 25 percent tariff on US$34 billion of US products.    [FULL  STORY]

Leave a Reply

Your email address will not be published. Required fields are marked *

I accept the Privacy Policy

This site uses Akismet to reduce spam. Learn how your comment data is processed.