The global market has once again faced a big challenge when U.S. President Trump tweeted that the U.S. Government will increase the additional tariff against US$ 200 billion worth of goods imported from China to 25% on May 10th. The involved 5,745 items of goods include hand tools, fasteners, sliding tracks, motors, steel, automotive components, batteries , adapters, optical products and many others. According to the Ministry of Economic Affairs (Taiwan), when the new measure becomes effective, the order-shifting effect is very likely to benefit the export of Taiwan.
Chairman of Taiwan Industrial Fasteners Institute Mr. Tu-Chin Tsai also thinks that such a measure is definitely good news to Taiwanese companies and is very like to cause significant changes in the order intake in Q3-Q4. However, Chairman Tsai thinks that due to higher material prices in Taiwan, the order shifting effect is very likely to be reflected upon the order intake of Vietnam.
Considering the fact that the third quarter is usually the high season for Taiwanese fastener industry, Taiwan CSC Chairman of the Board Chao-Tung Wong said on a conference with the fastener industry held on May 7th that Taiwan CSC understands the impact of the trade war between USA and China on Taiwanese fastener companies, so the price adjustments it is going to make will definitely reflect the real market conditions. Moreover, noticing the difficulties Taiwanese downstream fastener companies are facing, Taiwan CSC is always continuing to consider how it can do to enhance the competitive edge of Taiwanese companies.