U.S. is largest market for Taiwanese steel
Taiwan News
Date: 2018/03/22
By: Matthew Strong, Taiwan News, Staff Writer
TAIPEI (Taiwan News) – If a trade war breaks out between the United States and China,
Central Bank Governor Yang Chin-long. (By Central News Agency)
Taiwan could be its first and biggest victim, Central Bank Governor Yang Chin-long (楊金龍) said Thursday.
Minister without Portfolio John Deng (鄧振中) is currently visiting the U.S. in order to avert tariffs of 25 percent on Taiwanese steel products and 10 percent on aluminum products to be introduced on March 23 by the administration of President Donald Trump. Deng reportedly said that he was continuing his efforts, the Central News Agency reported.
As the U.S. was the largest market for Taiwanese steel and the sixth largest for Taiwanese aluminum, the island’s economy would feel the repercussions of any tariff hikes, Yang said after his first meeting as head of the bank to discuss interest rates. For the seventh time running, the institution decided not to change the rates, the CNA reported. [FULL STORY]
