Taipei, March 31 (CNA) The government will closely monitor the development of a U.S. plan to identify countries responsible for America's massive trade deficit, in which Taiwan reportedly might be involved, a Presidential Office spokesman said Friday.
Over the past five years, Taiwan has recorded an average trade deficit of US$5.4 billion with the United States, Sidney Lin (???) said.
According to foreign wire reports, U.S. President Donald Trump will order a major review of the causes of his country's nearly US$50 billion trade deficit.
Besides China, U.S. Commerce Secretary Wilbur Ross named Canada, France, Germany, India, Indonesia, Ireland, Italy, Japan, Malaysia, Mexico, South Korea, Switzerland, Taiwan, Thailand and Vietnam as "countries that will potentially be involved," Agence France Presse reported.
Commenting on the issue, Taiwan's Chinese National Federation of Industries Secretary-General Tsai Lien-sheng (???) said it would be "normal" and "not surprising" for Taiwan to be included on the list.
He pointed out that for a long time, the U.S. has been one of Taiwan's most important export markets.
More than 10 Taiwanese products now enjoy the world's biggest export values, including several that are manufactured overseas, he said.
The U.S. cannot take any countermeasures unless the deficit is the result of unfair trade practices such as dumping and subsidies, he said.
Source: Focus Taiwan News Channel