News
NDC head confident about economic prospects
National Development Council Minister Paul Liu says he firmly believes Taiwan's economy is likely to grow by over 3% next year.
Speaking at a legislative hearing, Liu said the election of Donald Trump as US president is definitely the major factor in that forecast, as it will bring more pros than cons to Taiwan's economy.
According to Liu, if Trump follows through with campaign pledges to impose a 60% tariff on Chinese products, it will be a great advantage to Taiwan due to the effects of transfer orders. Liu said there will be many "China Hawks" in the incoming Trump administration, and the US will probably also ban technology transfers to China, an advantage that Liu called will boost US-Taiwan technological collaboration.
However, the NDC head also warned that Taiwan exports to the US will also likely face a 10% tariff under the Trump administration.
