Taiwan, S. Korea would be hit hard by any China-U.S. trade war

The China Post
Date: January 24, 2017

TAIPEI, Taiwan — If there was to be a trade war between the United States and China, it would be a

CMC Magnetics Corp. Chairman Bob Wong (翁明顯) (CNA)

disaster for the world, with Taiwan and South Korea among the hardest-hit, a Taiwanese business leader said on Tuesday.

U.S. President Donald Trump’s announcement that the U.S. will withdraw from the Trans-Pacific Partnership trade pact alarmed many Taiwanese business, academic and government leaders. CMC Magnetics Corp. Chairman Bob Wong (翁明顯) was among the first to sound the alarm.

“It is not yet known whether there will be a trade war between China and the U.S. If there is, then it will be a disaster with the hardest-hit being Taiwan and South Korea,” Wong told the media on the sideline of a company event.

If the U.S. opts for trade protectionism, it will have a huge impact on Taiwan, he said. Trade-reliant Taiwan would do better to maintain good relations with all countries and “I would advise against a self-centered outlook,” he added.

Liu Meng-chun (劉孟俊), a China expert at Chung-hua Institution for Economic Research, said the 2017 Strategic and Economic Dialogue between the world’s two largest economies would be an important indication as to whether a trade war is likely.    [FULL  STORY]

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