The central bank of Taiwan and the Ministry of Economic Affairs have prepared specific actions to bid for bigger U.S. goods purchases to reduce its trade surplus. More so, Taiwan seeks to disprove U.S.’ claims being a currency manipulator.
Taiwan was called out by the U.S. as a currency manipulator back in December 1992. This year, the U.S. repeated history as Taiwan trade surplus with the U.S. is anticipated to hit the $20 billion mark. Going beyond the said surplus amount, the U.S. qualifies its trade partner under the monitoring list for a currency manipulator.
The U.S. posted a $17.4 billion trade deficit with Taiwan from January to September this year. In response, Taiwan bids to increase the purchase of U.S. oil and natural gas, soybeans, corn, and military hardware.
The surplus account of Taiwan is currently 11% of GDP, hitting another U.S. alarm to be under the watch list of a currency manipulator.
The U.N. study shows that Taiwan was the largest beneficiary of “trade diversion” in additional exports to the United States with $4.2 billion in the first half of 2019.
Financial markets saw record heights earlier on Friday, with the Euro continuing its 21-month gain streak and gold prices hitting its highest level amid a weakened Dollar. The Euro soared above the Dollar by 1.7%, trading at $1.1616 for the ...
Glenmark Pharmaceuticals Ltd was given a notice by the Drug Controller General of India (DCGI) on overpricing and false claims of its generic version of favipiravir, FabiFlu, according to local media reports, sending the company’s ...
SensorTower announced on Wednesday that Apple (AAPL) removed more than 2,500 games from the China App Store in the first week of July. The move came after the U.S. tech giant closed a loophole to comply with China’s license requirements. Apple ...
Tesla Inc.’s (TSLA) Chief Executive Officer Elon Musk announced on Thursday that Wall Street’s most controversial stock might join the S&P 500 after the company’s market value has risen from $50 billion to more than $250 ...
The United States Labor Department reported on Thursday that jobless claims edged down to a near four-month low since last week, while 32.9 Million Americans collected unemployment benefits in the third week of June. The government agency ...