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Taiwan Dollar Surge Raises Concerns for Exporters, Shih Chih-Chang Calls for Government Attention

Taiwan Dollar Surge Raises Concerns for Exporters, Shih Chih-Chang Calls for Government Attention

The recent surge in the New Taiwan Dollar over the past two days has raised significant concerns among industry players. City councilor Shih Chih-Chang noted that recent orders are predominantly based on an exchange rate of 32 NT dollars per US dollar, and this rapid increase may put pressure on export orders. Many traditional industries lack effective currency hedging mechanisms.

Shih emphasized that Taiwan's manufacturing sector largely consists of small and medium-sized enterprises, which are the most vulnerable when facing fluctuations in tariffs and exchange rates. While the appreciation of the NT dollar may lower import costs in the short term, benefiting some industries, the long-term impacts on price competitiveness for export-oriented sectors cannot be ignored.

He urged the central government to take the challenges posed by exchange rate fluctuations seriously and provide proactive support to enhance resilience among local industries while promoting smart transformation.