The value of imported sedans in the first half of the year plunged more than 22 percent from a year earlier, as many consumers put their purchase plans on hold in hopes of a tariff reduction for Taiwan during the ongoing negotiations between Taipei and Washington, according to the Ministry of Finance (MOF).
Data released Thursday by the MOF showed that the value of sedan imports totaled US$3.34 billion in the period January to June, down 22.2 percent from a year earlier, which was the steepest decline in 16 years.
Sedan imports from the United States suffered the largest year-on-year drop, falling 37.5 percent to US$311 million, the MOF said, attributing the sharp decline to consumers anticipation of reduced vehicle tariffs and commodity taxes during the ongoing negotiations between Washington and Taipei.
Photo: Amy Yang, Taipei Times
On April 2, the administration of U.S. President Donald Trump unveiled sweeping “reciprocal” tariffs on imports, including a 32 percent levy on Taiwan goods, before announcing a 90-day pause on April 9 to allow the U.S.’ trading partners to negotiate for lower rates.
Negotiations between the U.S. and Taiwan are at a “crucial stage,” according to Vice Premier Cheng Li-chiun (鄭麗君), who returned from the latest talks in Washington late last week and urged the Taiwan public to be patient.
Meanwhile, the value of Taiwan’s imported sedans from Germany and Japan fell by 26.8 percent and 3.19 percent, respectively, to US$1.09 billion and US$1.05 billion, in the first half of the year, the MOF’s data showed.
Outside the auto market, the MOF said, the import value of capital equipment was boosted by solid demand for semiconductor and information communication equipment, surging almost 60 percent in the first half of the year from a year earlier.
On the export front, Taiwan’s sales of electronic components rose 22.2 percent from a year earlier to US $98.7 billion in the first half of the year, driven by the growing popularity of artificial intelligence applications.
Taiwan’s exports of integrated circuits soared 23.5 percent, or US$17.6 billion, from a year earlier during the six-month period, as demand for AI applications for electronics gadgets boosted shipments of advanced chips, the MOF said.
In addition, Taiwan’s exports of capacitors and resistors spiked 11.3 percent year-on-year, driven by growing demand for high-end models amid AI development, while exports of printed circuit boards (PCBs) rose 4.8 percent on rising demand for AI servers, the MOF said.
However, amid escalating competition from China, exports of light-emitting diodes (LEDs) fell 7.4 percent year-on-year in the six months, marking the fourth consecutive year of decline, the MOF said.
A proposed 100 percent tariff on chip imports announced by US President Donald Trump could shift more of Taiwan’s semiconductor production overseas, a Taiwan Institute of Economic Research (TIER) researcher said yesterday. Trump’s tariff policy will accelerate the global semiconductor industry’s pace to establish roots in the US, leading to higher supply chain costs and ultimately raising prices of consumer electronics and creating uncertainty for future market demand, Arisa Liu (劉佩真) at the institute’s Taiwan Industry Economics Database said in a telephone interview. Trump’s move signals his intention to "restore the glory of the US semiconductor industry," Liu noted, saying that
On Ireland’s blustery western seaboard, researchers are gleefully flying giant kites — not for fun, but in the hope of generating renewable electricity and sparking a “revolution” in wind energy. “We use a kite to capture the wind and a generator at the bottom of it that captures the power,” said Padraic Doherty of Kitepower, the Dutch firm behind the venture. At its test site in operation since September 2023 near the small town of Bangor Erris, the team transports the vast 60-square-meter kite from a hangar across the lunar-like bogland to a generator. The kite is then attached by a
Foxconn Technology Co (鴻準精密), a metal casing supplier owned by Hon Hai Precision Industry Co (鴻海精密), yesterday announced plans to invest US$1 billion in the US over the next decade as part of its business transformation strategy. The Apple Inc supplier said in a statement that its board approved the investment on Thursday, as part of a transformation strategy focused on precision mold development, smart manufacturing, robotics and advanced automation. The strategy would have a strong emphasis on artificial intelligence (AI), the company added. The company said it aims to build a flexible, intelligent production ecosystem to boost competitiveness and sustainability. Foxconn
STILL UNCLEAR: Several aspects of the policy still need to be clarified, such as whether the exemptions would expand to related products, PwC Taiwan warned The TAIEX surged yesterday, led by gains in Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), after US President Donald Trump announced a sweeping 100 percent tariff on imported semiconductors — while exempting companies operating or building plants in the US, which includes TSMC. The benchmark index jumped 556.41 points, or 2.37 percent, to close at 24,003.77, breaching the 24,000-point level and hitting its highest close this year, Taiwan Stock Exchange (TWSE) data showed. TSMC rose NT$55, or 4.89 percent, to close at a record NT$1,180, as the company is already investing heavily in a multibillion-dollar plant in Arizona that led investors to assume
RSS