Taiwan ready to move factories as Trump plans huge China import fees
Taiwan prepares to help its companies leave China as Trump promises big tariffs on Chinese goods. Economy minister announces support plan while tech giants TSMC and GlobalWafers continue US investments
Taiwans government is getting ready to help its companies move out of China‚ as Donald Trump plans to put 60% fees on Chinese imports. Economy Minister Kuo Jyh-huei told parliament that impact on Taiwan-owned factories in China would hit hard
Over last 40 years Taiwan companies put lots of money in China (taking advantage of cheap costs) but now government wants them to move somewhere else; this comes as Beijing keeps pushing its claims over Taiwan. The Economy minister didnt give exact details about the re-location help
Tech giant TSMC has a lot at stake – its building new chip-plants in Arizona worth $65-billion. There are worries about what happens to U.S subsidies if Trump wins: the minister says theres a back-up plan that includes moving more supply-chain companies to America
GlobalWafers who is putting $4-billion in US facilities isnt too worried.
Multi-year and decadal programs like the CHIPS Act and the agreements we have signed are regularly continued from one administration to the next
Deputy trade rep Yen Huai-shing points out that US-Taiwan trade talks started when Trump was president before; he thinks both parties seem to want good relations with Taiwan – even though Biden and Trump dont agree on many things
