Taipei, An ongoing trade war between the U.S. and China that could escalate further following the U.S. announcement of new measures against China, will have limited impact on Taiwan, Vice Minister of Economic Affairs Wang Mei-hua (???) said Wednesday.
Wang's comments came after the U.S. announced late Tuesday that it was starting the process of imposing 10 percent tariffs on another U$$200 billion in Chinese exports as soon as September, expanding the trade war between the world's two largest economies.
"The Bureau of Foreign Trade has reviewed the new list and it is not expected to jeopardize Taiwan's industries much as it does not cover the notebook computer and handset sectors," she said, noting that the two products make up the bulk of U.S.-bound goods manufactured by Taiwanese companies in China.
According to Wang, nearly 200 items, including animal, plant, mining, chemical, metal and textile products manufactured in China are being targeted by the U.S.
However, Wang warned that Taiwan still needs to watch closely follow-up developments to determine how much the U.S. measures impact the Chinese market, as that could hurt China-based Taiwanese suppliers.
On July 6, Washington imposed a punitive 25 percent tariff on US$34 billion worth of Chinese machinery, electronics and high-tech equipment, including autos, computer hard drives and LEDs as it had threatened to do, in a bid to force China to change what Trump claims are unfair trading practices that have harmed U.S. economy.
China responded simultaneously with a 25 percent tariff on U.S. goods of the same value, targeting mainly agricultural products and vehicles.
Source: Focus Taiwan News Channel