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Taiwanese Businesses Impacted by Tariffs and Exchange Rates, Chen Hsueh-sheng Criticizes Government Inaction

Taiwanese Businesses Impacted by Tariffs and Exchange Rates, Chen Hsueh-sheng Criticizes Government Inaction

The U.S. equal tariffs have negatively impacted the global economy, and Taiwan is no exception. The Executive Yuan confirmed that it concluded the first round of face-to-face negotiations with the U.S. in Washington, D.C., on May 1. However, former Kuomintang legislator Chen Hsueh-sheng criticized on Facebook that "Taiwanese businesses have nowhere to go while the government is causing chaos." He pointed out that Taiwanese enterprises are facing a crisis, yet the government is glossing over the situation by pushing for a large-scale recall election and exacerbating national divisions.

Chen shared that a friend engaged in trade told him that Trump's tariff policies have left two containers filled with goods stuck in China unable to reach the U.S. If the tariff issues remain unresolved, the friend's business could shrink by one-third. Additionally, currency exchange rates have unexpectedly surged nearly 7% in just a few days, adding further strain.

Chen noted that another traditional manufacturer with factories in both China and Mexico is considering halting production due to an inability to ship to the U.S. Furthermore, an electronics contractor that had established a global presence early on is also feeling trapped due to the tariff wars initiated by Trump. Chen lamented that it seems as if the government and the public exist in parallel universes, and he called for a serious recognition of the difficulties faced by Taiwanese businesses.