The government would seek to terminate an economic cooperation framework agreement (ECFA) with China if the public were to veto the deal through a referendum, Minister of Economic Affairs Shih Yen-shiang (施顏祥) said yesterday.
If the ECFA were rejected in a referendum, it would mean that the agreement was invalid in Taiwan, Shih told lawmakers during a meeting of the legislature’s Economics Committee.
The government would notify Beijing, he said, “in accordance with a ‘termination clause,’ to have the agreement terminated within a certain period of time.”
President Ma Ying-jeou’s (馬英九) administration has set a goal of signing the proposed trade pact next year. Concerned that the ECFA would undermine Taiwan’s sovereignty, the Democratic Progressive Party and the Taiwan Solidarity Union are strongly against the plan and are pushing for a referendum on the pact.
If an ECFA is signed next month as planned, the Cabinet would submit the agreement to the legislature for review next month or in July, Shih said.
Even if the pact were endorsed by the legislature, the public could still express objections to it through a referendum, Shih said.
“We must respect public opinion. Referendums are one of the options available to the people,” he said.
The government would not agree to measures that harm Taiwan’s interests, he said, citing a recent statement by Ma that he would give up the proposed pact if Taiwan’s interests could not be secured.
CHIP RACE: Three years of overbroad export controls drove foreign competitors to pursue their own AI chips, and ‘cost US taxpayers billions of dollars,’ Nvidia said China has figured out the US strategy for allowing it to buy Nvidia Corp’s H200s and is rejecting the artificial intelligence (AI) chip in favor of domestically developed semiconductors, White House AI adviser David Sacks said, citing news reports. US President Donald Trump on Monday said that he would allow shipments of Nvidia’s H200 chips to China, part of an administration effort backed by Sacks to challenge Chinese tech champions such as Huawei Technologies Co (華為) by bringing US competition to their home market. On Friday, Sacks signaled that he was uncertain about whether that approach would work. “They’re rejecting our chips,” Sacks
Taiwan’s exports soared 56 percent year-on-year to an all-time high of US$64.05 billion last month, propelled by surging global demand for artificial intelligence (AI), high-performance computing and cloud service infrastructure, the Ministry of Finance said yesterday. Department of Statistics Director-General Beatrice Tsai (蔡美娜) called the figure an unexpected upside surprise, citing a wave of technology orders from overseas customers alongside the usual year-end shopping season for technology products. Growth is likely to remain strong this month, she said, projecting a 40 percent to 45 percent expansion on an annual basis. The outperformance could prompt the Directorate-General of Budget, Accounting and
Two Chinese chipmakers are attracting strong retail investor demand, buoyed by industry peer Moore Threads Technology Co’s (摩爾線程) stellar debut. The retail portion of MetaX Integrated Circuits (Shanghai) Co’s (上海沐曦) upcoming initial public offering (IPO) was 2,986 times oversubscribed on Friday, according to a filing. Meanwhile, Beijing Onmicro Electronics Co (北京昂瑞微), which makes radio frequency chips, was 2,899 times oversubscribed on Friday, its filing showed. The bids coincided with Moore Threads’ trading debut, which surged 425 percent on Friday after raising 8 billion yuan (US$1.13 billion) on bets that the company could emerge as a viable local competitor to Nvidia
BARRIERS: Gudeng’s chairman said it was unlikely that the US could replicate Taiwan’s science parks in Arizona, given its strict immigration policies and cultural differences Gudeng Precision Industrial Co (家登), which supplies wafer pods to the world’s major semiconductor firms, yesterday said it is in no rush to set up production in the US due to high costs. The company supplies its customers through a warehouse in Arizona jointly operated by TSS Holdings Ltd (德鑫控股), a joint holding of Gudeng and 17 Taiwanese firms in the semiconductor supply chain, including specialty plastic compounds producer Nytex Composites Co (耐特) and automated material handling system supplier Symtek Automation Asia Co (迅得). While the company has long been exploring the feasibility of setting up production in the US to address