financetom
Technology
financetom
/
Technology
/
Trump tariff effect boosts Taiwan's January exports
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Trump tariff effect boosts Taiwan's January exports
Feb 7, 2025 1:57 AM

TAIPEI (Reuters) - Taiwan's exports rose more than expected in January thanks both to artificial intelligence demand and companies getting in orders before Donald Trump assumed office as U.S. president and began levying trade tariffs.

Exports rose 4.4% from the same month a year ago to $38.71 billion, the finance ministry said on Friday, beating a forecast of 3.5% in a Reuters poll. The increase, lower than December's gain of 9.2%, marked the 15th straight monthly rise.

Taiwan firms such as TSMC, the world's largest contract chipmaker, are major suppliers to Apple, Nvidia and other tech companies.

Ministry official Beatrice Tsai told reporters exports last month did better than expected because of AI, and because companies were getting in orders before Trump took office on Jan. 20. Trump has since imposed tariffs on China - Taiwan's largest trading partner - though paused them on Canada and Mexico.

Excluding the last week of January, when Taiwan was on holiday for the Lunar New Year break, exports rose a third compared with the same period a year ago, a surge Tsai said was very rarely seen.

While the ministry said in an accompanying statement that tariffs and other geopolitical risks present a fair amount of uncertainty for this year, Tsai said for this year officials remained generally positive about export momentum.

For February, the ministry expects exports to rise between 16% and 20% on year.

In January, Taiwan's exports to the United States rose 0.7% year-on-year to $8.46 billion, versus a 16% gain in the prior month.

Exports to China, Taiwan's biggest trading partner, contracted 11.7%, versus a jump of 3.6% in December.

Taiwan's total exports of electronic components climbed 3.1% in January on the year to $14.0 billion, with semiconductor exports up 4.2%.

Imports shed 17.2% to $28.74 billion, worse than economists' forecasts for a gain of 0.7%.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
AIOZ Network Partners With Alibaba Cloud to Boost AI, Storage and Streaming Services
AIOZ Network Partners With Alibaba Cloud to Boost AI, Storage and Streaming Services
Mar 22, 2024
The two companies will establish a DePIN alliance in south-east Asia.AIOZ's native token is currently trading flat after the announcement, it is up by more than 200% in 30 days.AIOZ Network will use Alibaba Cloud to improve Web 3, AI, storage and streaming services.Decentralized infrastructure network (DePIN) AIOZ Network has become the leading blockchain partner in Alibaba Cloud’s Innovation Accelerator...
Japan braces for life with interest rates after historic change
Japan braces for life with interest rates after historic change
Mar 21, 2024
TOKYO (Reuters) - In the coming years, Satoaki Kanoh needs to replace almost a dozen ageing machines at his Tokyo-based maker of acrylic panels, a major undertaking that he worries will become even more expensive. Ideally, I'd like to do one a year. But I don't have that much money, Kanoh said of the customised pieces of machinery that cost...
Japan braces for life with interest rates after historic change
Japan braces for life with interest rates after historic change
Mar 21, 2024
TOKYO, March 22 (Reuters) - In the coming years, Satoaki Kanoh needs to replace almost a dozen ageing machines at his Tokyo-based maker of acrylic panels, a major undertaking that he worries will become even more expensive. Ideally, I'd like to do one a year. But I don't have that much money, Kanoh said of the customised pieces of machinery...
Analysis-Apple antitrust suit mirrors strategy that beat Microsoft, but tech industry has changed
Analysis-Apple antitrust suit mirrors strategy that beat Microsoft, but tech industry has changed
Mar 22, 2024
(Reuters) - The U.S. government's antitrust lawsuit against Apple ( AAPL ) draws on the watershed 1998 case that broke Microsoft's ( MSFT ) stranglehold on desktop software, but that may prove to be an imperfect blueprint for addressing smartphone competition. The market for the iPhone today looks very different from the near-monopoly enjoyed by Microsoft's ( MSFT ) Windows...
Copyright 2023-2025 - www.financetom.com All Rights Reserved