U.S. imports more than 5 percent of its steel products from Taiwan
Taiwan News
Date: 2018/03/02
By: Matthew Strong, Taiwan News, Staff Writer
TAIPEI (Taiwan News) – The plan by United States President Donald Trump to slap tariffs
Taiwan condemns steel tariffs as damaging to free trade. (By Central News Agency)
on steel and aluminum imports will damage global free trade, the Ministry of Economic Affairs (MOEA) said Friday.
The U.S. president’s statement provoked angry reactions from all over the world, while stock markets, including New York’s Dow Jones, plunged on fears of trade wars. Trump said steel imports would face a tariff of 25 percent and aluminum imports 10 percent.
The impact of the measures on Taiwanese manufacturers was still difficult to estimate as no details had been revealed yet, the MOEA said, as reported by the Central News Agency. However, since they had been motivated by trade protectionism, they were not a positive development from the view of global trade, the ministry added. [FULL STORY]