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Taiwan could benefit from order transfer amid new round of US import tariffs on China

Taiwanese companies should strive to ensure products are made in Taiwan to stay competitive

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Minister Without Portfolio John Deng (鄧振中)

Minister Without Portfolio John Deng (鄧振中) (CNA photo)

TAIPEI (Taiwan News) – With the fresh 10 percent tariffs imposed by U.S. on $200 billion worth of imports from China, Taiwanese companies can expect limited direct impact and even benefit from order transfers, Minister Without Portfolio John Deng (鄧振中) said today.

Deng expressed his optimistic views on the latest development in the U.S.-China trade war after attending the relocation ceremony for the building of the Ministry of Finance on Sept. 18, saying that President Tsai Ing-wen had instructed relevant authorities in a strategic meeting to implement mechanisms to assist the business sector in the face of escalating trade disputes between the world's two biggest economies, reports said.

The new tariff measure, below the original figure of 25 percent floated by the Trump administration and removing 300 items from the previously proposed list of affected goods, could be interpreted as less damaging than the worst-case scenario, Deng reckoned.

He advised Taiwanese enterprises to stick to the principle of “Made in Taiwan” to retain competitiveness instead of relying on re-export trade. In doing so, the companies could benefit from transfer of orders and shield themselves from the fallout of the U.S.-China conflict.