Taiwan company production in China for US market declines
Courtesy of ICRT
The Ministry of Economic Affairs says the production of Taiwanese enterprises in China for the US market has been affected by rising trade and technology tensions between Washington and Beijing.
According to the ministry, figures show that 25.7% of products in export orders received by Taiwanese manufacturers and rolled out in China and Hong Kong in 2020, went to the US and that was a decline of 1.1 percentage points from a year earlier.
The ministry is attributing the decline to growing trade disputes and technology competition between the US and China.
And the ministry says that has prompted many Taiwanese manufacturers with overseas operations to relocate production from China in a bid to ameliorate the impact of such tensions.
Data also shows that while Taiwanese firms with production lines in China and Hong Kong lowered the ratio of production bound for the U-S market, they sold 22.3% of their goods made in China in the same market.