TAIPEI (Taiwan News) – As U.S. President Donald Trump relaxed steel restrictions on imports from Argentina, Brazil and South Korea on Aug. 29, Taiwan's Minister of Economic Affairs vowed to continue to fight for future exceptions for Taiwanese steel, reported CNA.
Shen Jong-chin (沈榮津) said that despite U.S. tariffs, Taiwan's steel exports are expected to grow, and that Taiwan will continue to strive for U.S. tariff and quota exemptions.
Trump signed proclamations giving Argentina, Brazil, and South Korea relief from U.S. import steel restrictions, the U.S. Commerce Department said in a statement on Aug. 29. Importers of steel from these three countries can apply to be exempt from quota and tariff restrictions with the Department of Commerce, if the specified product is unavailable from U.S. producers.
Shen said that according to the statistics, U.S. tariffs and restrictions on Taiwanese steel will not have a significant, and exports are adjusting towards Europe and Southeast Asia. In this regard, he is optimistic about Taiwan's steel export growth.
According to statistics from the Ministry of Economic Affairs, Taiwan's steel exports from January-July 2018 increased by 6.67 percent when compared to the same period last year, despite steel exports to the U.S. decreasing by 23.88 percent.
Shen said that the Taiwan government will continue to maintain contact with the U.S. and strengthen communication in a push for a more preferential trade arrangement.
Taiwan's top trade negotiator, John Deng (鄧振中) said in June 2018 that Taiwan holds a goal of becoming exempt from U.S. steel tariffs, and the U.S. is making "internal considerations" about the matter.