This year, the United States overtook mainland China to become the world’s high-tech hub and Taiwan’s top export destination, Hong Kong’s South China Morning Post reported April 24.
The United States has become the top destination for Taiwan’s exports, a sign that the unbundling of supply chains has led to a tangible shift toward Western-allied markets, the paper said.
Taiwan’s exports to the United States totaled $26.625 million in the first quarter, surpassing exports to mainland China of $22.407 billion, according to the International Trade Administration.
Mainland China has topped the U.S. ranking as Taiwan’s top export destination each year for the past decade, although the gap with mainland China narrowed last year from more than $45 billion in 2022 to less than $20 billion. of dollars in 2023.
Many foreign-invested importers of Taiwanese products in mainland China, including those in the market for phone and computer components that are assembled for re-export, have moved their operations to Southeast Asia or beyond due to the trade wars between Beijing and Washington, analysts say. .
Source: Rossa Primavera
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