based on materials from the website - By Coinwy
Taiwan revises its growth forecast for 2025 after the U.S. imposes new 20% tariffs on exports, affecting economic negotiations and trade dynamics.
This move underscores the strained trade relations, with a significant economic adjustment expected, but its immediate impact on the cryptocurrency sector is minimal.
In response, Taiwan's Executive Yuan and key figures such as Vice President Xiao Bi-Khim are engaging in high-level negotiations. Recent statements from Vice President Xiao Bi-Khim confirmed that Taiwan is keen to resume talks on a broader agreement. Following the latest round of negotiations at the end of June, Taiwan's Executive Yuan announced progress in enhancing supply chain resilience and facilitating mutual opportunities for industrial development. The Taipei Statistical Bureau has been tasked with revising growth forecasts considering the new economic conditions.
Tariffs are likely to affect Taiwan's export-oriented industries, particularly the semiconductor sector. This current financial strain necessitates a reassessment of future market strategies and potential adjustments to the supply chain to mitigate the impact of U.S. tariffs.
Wider economic implications include changes in trade policy and potential adjustments to inflation forecasts in Taiwan. Government initiatives aim to maintain economic stability, although cryptocurrency markets remain insulated from these tariff-related changes.
No direct retaliatory measures or adjustments in cryptocurrency regulation in Taiwan have been noted. However, ongoing negotiations may influence future technological advancements in trade and stimulate investment to support industrial resilience despite tariff challenges.
Given past trade disputes, the current tariffs may accelerate efforts to diversify the economy. Taiwan may seek to strengthen bilateral agreements with other countries to reduce its dependence on U.S. markets, promoting long-term economic growth and stability.
