The Ministry of Economic Affairs, the Taiwan External Trade Development Council (TAITRA), the American Institute in Taiwan (AIT) and the American State Offices Association yesterday jointly held the US Business Day investment forum at the Taipei International Convention Center as both sides gear up for more business opportunities together.
Deputy Minister of Economic Affairs Lin Chuan-neng (林全能) said in opening remarks that the Taiwan Strait issue has been a focus of global security, but foreign businesses still have confidence in Taiwan’s market, as companies such as Applied Materials Inc, ASML Holding NV and Merck Group continue to invest here.
“Taiwan is indeed a trustworthy partner in the global supply chain,” Lin was quoted as saying in a statement released by TAITRA.
Photo: Lin Jin-hua, Taipei Times
Taiwan and the US continue to strengthen economic and trade cooperation based on shared values, TAITRA chairman James Huang (黃志芳) said in the statement.
For example, US President Joe Biden last month signed into law a bill that approves the first agreement negotiated under the US-Taiwan Initiative on 21st-Century Trade, which is proof of the trust and cooperation between Taiwan and the US over the past decades, Huang said.
AIT Director Sandra Oudkirk was quoted as saying at the forum that bilateral investment between Taiwan and the US in the semiconductor, electric vehicle and 5G industries would help increase employment and economic growth on both sides, and boost cultural exchanges and business opportunities.
Many US states have established offices in Taiwan over the past three years, amid a closer relationship between Taiwan and the US, Oudkirk said, adding that 18 US companies, including Super Micro Computer Inc, attended the investment forum.
Last year, Taiwan was the US’ ninth-largest trading partner, while the US was Taiwan’s second-largest, as well as one of its most important sources of foreign direct investment and technological input, the TAITRA statement said.
This year, more than 200 Taiwanese businesses, including Lite-On Technolgy Corp (光寶科技), Compal Electronics Inc (仁寶電腦), Aerospace Industrial Development Corp (漢翔航空), Teco Electric and Machinery Co (東元電機) and Sinbon Electronics Co (信邦電子), attended the event to engage in one-on-one business meetings with US companies, it said.
Arizona Governor Katie Hobbs, who led a delegation to Taiwan for the forum, said in a speech at the event that her state is expecting more opportunities to cooperate with Taiwanese businesses following a spate of investment by firms in the Taiwanese semiconductor supply chain.
New Mexico Governor Michelle Lujan Grisham, who was also heading a delegation, spoke of the economic diversity of her state, with industrial investments focusing on green energy related to the hydrogen, aerospace, smart manufacturing, electric vehicle, information security and tourism sectors.
Semiconductor business between Taiwan and the US is a “win-win” model for both sides given the high level of complementarity, the government said yesterday responding to tariff threats from US President Donald Trump. Home to the world’s largest contract chipmaker, Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), Taiwan is a key link in the global technology supply chain for companies such as Apple Inc and Nvidia Corp. Trump said on Monday he plans to impose tariffs on imported chips, pharmaceuticals and steel in an effort to get the producers to make them in the US. “Taiwan and the US semiconductor and other technology industries
SMALL AND EFFICIENT: The Chinese AI app’s initial success has spurred worries in the US that its tech giants’ massive AI spending needs re-evaluation, a market strategist said Chinese artificial intelligence (AI) start-up DeepSeek’s (深度求索) eponymous AI assistant rocketed to the top of Apple Inc’s iPhone download charts, stirring doubts in Silicon Valley about the strength of the US’ technological dominance. The app’s underlying AI model is widely seen as competitive with OpenAI and Meta Platforms Inc’s latest. Its claim that it cost much less to train and develop triggered share moves across Asia’s supply chain. Chinese tech firms linked to DeepSeek, such as Iflytek Co (科大訊飛), surged yesterday, while chipmaking tool makers like Advantest Corp slumped on the potential threat to demand for Nvidia Corp’s AI accelerators. US stock
The US Federal Reserve is expected to announce a pause in rate cuts on Wednesday, as policymakers look to continue tackling inflation under close and vocal scrutiny from US President Donald Trump. The Fed cut its key lending rate by a full percentage point in the final four months of last year and indicated it would move more cautiously going forward amid an uptick in inflation away from its long-term target of 2 percent. “I think they will do nothing, and I think they should do nothing,” Federal Reserve Bank of St Louis former president Jim Bullard said. “I think the
Cryptocurrencies gave a lukewarm reception to US President Donald Trump’s first policy moves on digital assets, notching small gains after he commissioned a report on regulation and a crypto reserve. Bitcoin has been broadly steady since Trump took office on Monday and was trading at about US$105,000 yesterday as some of the euphoria around a hoped-for revolution in cryptocurrency regulation ebbed. Smaller cryptocurrency ether has likewise had a fairly steady week, although was up 5 percent in the Asia day to US$3,420. Bitcoin had been one of the most spectacular “Trump trades” in financial markets, gaining 50 percent to break above US$100,000 and
RSS