Giant Manufacturing Co (巨大) yesterday said that it would petition US authorities to revoke a ban on imports of its bicycles from Taiwan as the world’s largest bike maker’s shares slumped over the US measure due to alleged forced labor.
The Taiwanese manufacturer’s stock fell as much as 9 percent early yesterday after US Customs and Border Protection said its personnel would seize Taiwan-made Giant bikes and parts at the border, citing what it said was evidence of abusive working conditions, debt bondage and other indicators of worker abuse.
Giant shares regained some momentum and closed 0.6 percent lower at NT$99.90.
Photo: CNA
Giant said in a statement that it is “committed to upholding human rights” and would file a petition to seek the revocation of the so-called withhold release order.
The company highlighted its implementation of a “Zero Recruitment Fee Policy” since January that it said covers all recruitment-related costs for migrant workers.
The company also said that it completed upgrades to employee housing by the end of last year, and has established internal and third-party audit mechanisms.
Giant added that it had implemented internal supervision mechanisms and third-party audits, and “continues to conduct due diligence to ensure compliance with international standards.”
The company expects the US import ban might affect 4 to 5 percent of its overall revenue, the statement said.
The import ban applies only to products manufactured in Taiwan and exported to the US, leaving other markets unaffected.
While some US shipments might be delayed, Giant said that supply and sales in other regions would continue as normal.
The dispute comes as Taiwan continues to negotiate on trade with Washington.
US President Donald Trump this month said that he would impose tariffs on imports of semiconductors “very shortly,” a move that could threaten a key made-in-Taiwan product and the nation’s economy.
The Ministry of Economic Affairs said it would assist Giant in resolving any forced labor issues so the US order could be lifted as soon as possible.
“As a responsible member of the global supply chain, Taiwan has always attached great importance to improving labor conditions,” the ministry said in a statement.
Starlux Airlines Co (星宇航空) today unveiled a long-haul network expansion plan at a shareholders’ meeting in Taipei, including direct flights to Barcelona, Spain, and Zurich, Switzerland, as well as a service connecting Taipei, Sydney and New Zealand. Starlux is to become the first Taiwanese carrier to offer non-stop services to the two European cities, while the inaugural oceanic route is expected to expand transit opportunities within the Australia-New Zealand market, Starlux said. Flight services to Chicago, Dallas, Washington and New York are under evaluation, the airline added. Prior to the shareholders’ meeting, the airline earlier this year announced that it would be
Cairo’s new monorail slices across the city skyline, running above the familiar chaos of blaring horns and aging buses’ exhaust fumes that mark rush hour below. The US$4.5 billion monorail, opened this month, is among Egypt’s most prominent new transport projects, part of a debt-funded infrastructure drive criticized for sapping state finances while bringing limited benefits to most of the country’s 109 million people. “It feels like you’re in a different country,” said Ramy Sayed, a restaurant manager, aboard a driverless Innovia 300 train. “No noise, no traffic, we’re not used to this.” The eastern line runs 56km from the bustling middle-class
Netherlands-based semiconductor equipment supplier ASML Holding NV yesterday said that it is planning to hire an additional 1,000 people in Taiwan this year in response to growing demand from clients. ASML had previously planned to recruit 600 people this year, but that the plan has been adjusted upward, ASML vice president and ASML Taiwan general manager Grace Wang (汪佳慧) told reporters. ASML has a workforce of more than 4,500 in Taiwan, accounting for about 10 percent of its global total, Wang said. This year’s recruitment campaign would focus on adding people in the customer support, manufacturing and supply chain domains to assist ASML
Nvidia Corp yesterday announced that CEO Jensen Huang (黃仁勳) would attend an employee meeting in Taipei tomorrow to celebrate the launch of the company’s Taiwan headquarters project. Huang would attend a gathering at the site of Nvidia’s planned headquarters in Beitou Shilin Technology Park (北投士林科技園區), the company said in a statement. After arriving in Taiwan on Saturday last week, Huang told reporters that he plans to meet with Quanta Computer Inc (廣達) chairman Barry Lam (林百里) and Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) chairman C.C. Wei (魏哲家), and would attend the groundbreaking ceremony for Nvidia’s Taiwan headquarters tomorrow. Nvidia has not yet applied
RSS