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SPECIAL REPORT

Taiwan’s Opportunity Under China-U.S. Trade

War Crossfi re in 2019

Redirected orders thanks to the China and U.S. trade tensions

Huang Wei-shiou

he chairman of Taiwan Hand Tool Manufacturers’ to order goods from Taiwan, with the latter becoming the
TAssociation (THTMA) Huang Hsin-te pointed out due biggest winner in the trade war.
to the impact brought on by the China-U.S. trade war,
the export value in the hand tool industry increased by Previously, President Tsai Ing-wen attended the General
NTD$3.2 billion from January to August in 2019, combined Assembly of THTMA, saying that investment from hand
with a growth of 4.1% compared to the same period in tool giants is heated -- two companies have been vetted
2018. He also cited 2018 statistics that hand tool exports and two companies are still in the application process.
from China was ranked fi rst, followed by Taiwan in second. Total investments are estimated at approximately NTD$3
However, since the China-U.S. trade war began, Chinese billion. She pointed out that Taiwan’s hand tool industry
goods was imposed with 25% taxes, prompting buyers is recognized among the top best worldwide, cementing
its status as a hidden champion. In 2018, the export
value of hand tools was ranked third in the world, with an
approximately 2% increase and even a growth of 5.58
percent in the fi rst half of 2019 compared to the previous
year, which made a great contribution to boost Taiwan’s
economy.

Tsai emphasized the government will consistently
introduce intelligent technology to upgrade the industry.
Also, by putting up various incentive policies, it encourages
firms to invest more in existing operations, paving the
way for Taiwan to cement its reputation as the hand tool
kingdom in the 21st century.

President Tsai Ing-wen attended the General Assembly of Taiwan Hand Tool
Manufacturers’ Association. (Photo courtesy of Offi ce of the President, ROC
,Taiwan )

Taiwan Hand tools 2020 Issue