Relations between Taiwan and China in the WTO must be normalized before cross-strait trade relations can be rationalized, Taiwan's permanent representative to the WTO Yen Ching-chang (
Yen made the remarks in response to a position paper released by the European Chamber of Commerce Taipei (ECCT) on Taiwan's progress in observing WTO obligations.
In the paper, the ECCT again criticized Taiwan for failing to relax import restrictions on Chinese products and warned that the situation will bring down the nation's competitiveness.
The ECCT highlighted that Taiwan has banned the import of more than 2,400 Chinese products on the grounds that they might jeopardize national security and the domestic industrial sector, which the group says is in violation of 1994's General Agreement on Tariffs and Trade.
Yen said the problem is mutual and that it is unfair to demand that Taiwan take steps unilaterally.
While there is room for Taiwan to improve its import restrictions on Chinese products, China has also maintained unreasonable trade measures toward Taiwan, Yen said.
However, it seems impossible for Taiwan and China to sit down for talks about the problem because their relations in the WTO have not been normalized, with China's mission to the WTO even refusing to exchange correspondence with Taiwan's mission, Yen said.
Taiwan’s foreign exchange reserves fell below the US$600 billion mark at the end of last month, with the central bank reporting a total of US$596.89 billion — a decline of US$8.6 billion from February — ending a three-month streak of increases. The central bank attributed the drop to a combination of factors such as outflows by foreign institutional investors, currency fluctuations and its own market interventions. “The large-scale outflows disrupted the balance of supply and demand in the foreign exchange market, prompting the central bank to intervene repeatedly by selling US dollars to stabilize the local currency,” Department of Foreign
Intel Corp is joining Elon Musk’s long-shot effort to develop semiconductors for Tesla Inc, Space Exploration Technologies Corp and xAI, marking a surprising twist in the chipmaker’s comeback bid. Intel would help the Terafab project “refactor” the technology in a chip factory, the company said on Tuesday in a post on X, Musk’s social media platform. That is a stage in the development process that typically helps make chips more powerful or reliable. The chipmaker’s shares jumped 4.2 percent to US$52.91 in New York trading on Tuesday. The Terafab project is a grand plan by Musk to eventually manufacture his own chips for
Taiwan Power Co (Taipower, 台電) yesterday said it plans to resume operations at two coal-fired power generators for three months to boost security of electricity supply as liquefied natural gas (LNG) supply risks are running high due to the Middle East conflict. The two coal-fired power generators are at Mailiao Power Plant in Yunlin County’s Mailiao Township (麥寮). The plant, operated by Formosa Plastics Group (台塑集團), supplied electricity to Taipower’s power grid until the end of last year. Taipower’s decision came about one month after Minister of Economic Affairs Kung Ming-hsin (龔明鑫) on March 10 said that the nation had no imminent
Some robotaxi passengers were left stranded in the middle of fast-moving traffic in a major Chinese city after their driverless vehicles stopped running, according to police and media reports on Wednesday. A preliminary investigation indicates more than 100 robotaxis came to a halt because of a “system malfunction,” police in the city of Wuhan said in a statement, without elaborating. No injuries were reported. One passenger told Chinese media that their robotaxi stopped after turning a corner. An instruction on a screen read: “Driving system malfunction. Staff are expected to arrive in 5 minutes.” After no one showed up, the passenger pushed