TSM - US Overtakes China As Taiwan's Biggest Export Market For The First Time In Over 20 Years | Benzinga
Recent trade data shows that the U.S. has become the leading destination for Taiwanese exports, overtaking China.
What Happened: Taiwan’s exports to the U.S. increased by 65.7% year-on-year in March, totaling $9.1 billion. In contrast, exports to mainland China saw a modest increase of 6%, amounting to $7.9 billion. This is a marked change from the past, with China being the main recipient of Taiwanese exports since 2003, reported Bloomberg.
The Finance Ministry in Taipei released the data on Wednesday, coinciding with a significant meeting between Chinese leader Xi Jinping and former Taiwan President Ma Ying-jeou. Despite the leaders emphasizing the close ties between the two sides of the strait, the trade data suggests a diverging narrative.
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This change in export destinations reflects a shift in global trade relationships, driven by consecutive U.S. administrations’ efforts ...