The US imported more from Taiwan than China for the first time in decades
a month ago
- #Tariffs
- #US-Taiwan Trade
- #AI Boom
- US imports from Taiwan surpassed those from China for the first time in decades, driven by AI demand and Trump's tariffs.
- US purchases from China dropped 44% in December 2023 to $21.1B, while Taiwan's shipments more than doubled to $24.7B.
- Taiwan's exports to the US surged due to AI-related tech products, shifting its trade profile and boosting its economy.
- US-China direct trade declined sharply as Chinese exporters diversified to avoid tariffs, while Taiwan increased US exports.
- US trade deficit with China fell to $202.1B in 2023, but more than doubled with Taiwan to nearly $147B.
- Taiwan and US signed a trade deal lowering tariffs, boosting optimism and GDP growth estimates to 7.71%.
- Trump's discussion of arms sales to Taiwan with Xi Jinping sparked concerns over US policy violations.
- Taiwan's health ministry urged ERs to prioritize critical cases during Lunar New Year, promoting urgent care centers.
- Taiwan Taoyuan International Airport saw record passenger traffic during Lunar New Year, surpassing pre-pandemic levels.
- A proposed NT$1.25T special defense budget is a top priority for Taiwan's Legislative Yuan post-holiday.