Minister of Economic Affairs Yiin Chii-ming (尹啟銘) will lead a team to visit 20 companies located in major cities on the US west coast and hold three investment conferences in Los Angeles, Seattle and the Silicon Valley from today to Sept. 14 to encourage companies to invest in Taiwan.
The trip aims to foster cooperation between the two countries in promising areas such as information and communications technology, display technology, machinery equipment, the solar energy industry and the venture capital industry.
When asked about the list of companies that Yiin will visit, Berton Chiu (邱柏青), director general of the Department of Investment Services, was noncommittal yesterday, but said Yiin would visit Applied Materials Inc — the world’s largest maker of machinery that produces computer chips — headquartered in Santa Clara, California.
The US is Taiwan’s most important source for foreign investment and technology, the Investment Commission said. From 1952 until the end of July, there were 3,795 investment applications filed by US companies, with total investment of US$19.32 billion, it said.
Major investment categories are electrical and electronic equipment and chemical manufacturing. In recent years, investment in financial and insurance services has also been on the rise.
In related news, the Ministry of Economic Affairs (MOEA) will hold the 2008 Taiwan Business Alliance Conference at the Taipei International Convention Center on Oct. 6 and Oct. 7, with more than 600 executives or representatives from more than 25 countries scheduled to attend.
CHIP WAR: Tariffs on Taiwanese chips would prompt companies to move their factories, but not necessarily to the US, unleashing a ‘global cross-sector tariff war’ US President Donald Trump would “shoot himself in the foot” if he follows through on his recent pledge to impose higher tariffs on Taiwanese and other foreign semiconductors entering the US, analysts said. Trump’s plans to raise tariffs on chips manufactured in Taiwan to as high as 100 percent would backfire, macroeconomist Henry Wu (吳嘉隆) said. He would “shoot himself in the foot,” Wu said on Saturday, as such economic measures would lead Taiwanese chip suppliers to pass on additional costs to their US clients and consumers, and ultimately cause another wave of inflation. Trump has claimed that Taiwan took up to
SUPPORT: The government said it would help firms deal with supply disruptions, after Trump signed orders imposing tariffs of 25 percent on imports from Canada and Mexico The government pledged to help companies with operations in Mexico, such as iPhone assembler Hon Hai Precision Industry Co (鴻海精密), also known as Foxconn Technology Group (富士康科技集團), shift production lines and investment if needed to deal with higher US tariffs. The Ministry of Economic Affairs yesterday announced measures to help local firms cope with the US tariff increases on Canada, Mexico, China and other potential areas. The ministry said that it would establish an investment and trade service center in the US to help Taiwanese firms assess the investment environment in different US states, plan supply chain relocation strategies and
WASHINGTON POLICY: Tariffs of 10 percent or more and other new costs are tipped to hit shipments of small parcels, cutting export growth by 1.3 percentage points The decision by US President Donald Trump to ban Chinese companies from using a US tariff loophole would hit tens of billions of dollars of trade and reduce China’s economic growth this year, according to new estimates by economists at Nomura Holdings Inc. According to Nomura’s estimates, last year companies such as Shein (希音) and PDD Holdings Inc’s (拼多多控股) Temu shipped US$46 billion of small parcels to the US to take advantage of the rule that allows items with a declared value under US$800 to enter the US tariff-free. Tariffs of 10 percent or more and other new costs would slash such
Hon Hai Precision Industry Co (鴻海精密) is reportedly making another pass at Nissan Motor Co, as the Japanese automaker's tie-up with Honda Motor Co falls apart. Nissan shares rose as much as 6 percent after Taiwan’s Central News Agency reported that Hon Hai chairman Young Liu (劉揚偉) instructed former Nissan executive Jun Seki to connect with French carmaker Renault SA, which holds about 36 percent of Nissan’s stock. Hon Hai, the Taiwanese iPhone-maker also known as Foxconn Technology Group (富士康科技集團), was exploring an investment or buyout of Nissan last year, but backed off in December after the Japanese carmaker penned a deal
RSS