By: Central News Agency
Exposure of the local financial sector to the United States and China has surpassed the NT$10 trillion level, and the massive international claims on the top two economies have prompted the Financial Supervisory Commission (FSC) to more carefully watch the rising trade tension between the two countries.
The FSC said an escalation of a trade war between the U.S. and China could boost potential risk for the three financial industries.
The U.S. Trade Representative office released a list Monday of US$300 billion-worth of additional products imported from China on which 25 percent punitive tariffs could be imposed, as the two countries seemed content to exchange threats rather than find a solution.
On May 10, Washington raised tariffs on US$200 billion-worth of Chinese merchandise to 25 percent from 10 percent and Beijing retaliated with threats of tariffs of its own.