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By: International Community Radio Taipei (ICRT)
President Tsai Ing-wen (蔡英文) is directing government agencies to work on measures to reduce possible fallout on the local economy from the escalating trade war between the United States and China.
Speaking after a briefing by the Economic and Trade Negotiation Office, Tsai said if the trade war intensifies over the long-term, it is expected to impact Taiwan’s exported-oriented economy.
China announced Wednesday that it will impost additional tariffs on US$16 billion of imported American autos and energy products, responding to the Trump administration’s detailing the previous day of 25 percent tariffs on an equivalent value of Chinese products.
When the tariffs come into effect on Aug. 23, the two sides will have taxes on about US$100 billion worth of bilateral trade. Trump has said he is considering imposing a 25 percent tariff on a further US$200 billion of Chinese goods in September, a threat that Beijing has promised to match yuan for yuan if it is carried out. [FULL STORY]