By: Joseph Yeh
Taipei, Sept. 20 (CNA) Taiwan’s Central American allies have been calling for Taiwanese companies to move their production bases to the area amid the U.S.-China trade war that is beginning to hurt these companies with higher tariffs.
A recent report released by Yuanta-Polaris, a Taiwan-based economic think tank mentioned the country’s machine tool and electronic component industries as the two sectors that will likely be the most affected by the ongoing trade war.
This is because these items account for roughly 50 percent of the total Chinese imports into the U.S., and sooner or later they will be targeted by the U.S. administration, it said.
Many Taiwanese companies use China as a manufacturing base for their machine tools and electronic components, which are then exported to the U.S. [FULL STORY]