■ Electronics
Carriers reject iPod phone
Verizon Wireless and Cingular Wireless are unwilling to support an iPod mobile phone Apple Computer Inc and Motorola Inc are developing, Business Week reported, citing unidentified people familiar with the matter. The carriers are reluctant to support a phone that would let customers download music from their personal computers rather than purchase songs through their wireless service providers, the magazine reported on its Web site. Motorola delayed a planned unveiling of the iPod phone at a cellular industry conference in New Orleans this month because of lack of industry support for the handset, Business Week said, citing the unidentified people.
■ Automakers
Nissan, Audi clash over `Q'
Nissan Motor Corp said Friday its US unit has sued Audi AG over the alleged breach by the German carmaker of the copyright for the registered letter "Q" which Audi uses for its new sport utility vehicles. Nissan North America has used "Q" as the registered trademark for its luxury Infinity vehicles since 1989, according to Mia Nielsen, spokeswoman for Nissan. "Nissan North America filed a lawsuit at the US district court in Michigan so as to protect the company's rights over the letter `Q,'" Nielsen said. "We are seeking to bar Audi from using any names that could infringe on Nissan's right over the letter `Q,'" she added. Nissan said Audi's use of the Q5 and Q7 trademarks for its new SUVs might cause confusion among consumers.
■ Railways
Seibu denies buyout offer
Seibu Railway, the scandal-hit Japanese firm, yesterday denied a report that US investment bank Goldman Sachs has offered to buy it for about ¥900 billion (US$8.5 billion). "We have not officially nor informally received such an offer from Goldman Sachs," a Seibu Railway spokesman said. Goldman Sachs spokesman Orlando Camargo also issued a statement dismissing the report. "Goldman Sachs has not proposed to acquire Seibu Railway Group as has been reported today in the media," he said. The Nihon Keizai Shimbun said Goldman Sachs had proposed purchasing Seibu Railway shares held by the group's core company Kokudo and taking over Kokudo's debt obligations. Seibu was delisted from the Tokyo Stock Exchange in December in the wake of the scandal which saw its former head, Yoshiaki Tsutsumi, once dubbed the world's richest man, charged with falsifying financial statements to conceal his family's control of the company.
■ Macroeconomics
Seoul says it won't lift rates
South Korea's top economics minister said yesterday that this week's latest US interest rate hike would not be followed here as the country's economy is still only on the path to recovery. "The United States raised interest rates because of inflation jitters. However, our economy is still at a stage where signs of recovery are beginning to appear," said Han Duck-Soo, minister of finance and economy. "Therefore, it is difficult to see any linkage between the US interest rate hike and our economy," he said at a meeting of economic policy makers. He noted that inflationary pressures were still modest in South Korea given the low demand. The strength of the South Korean won also makes the prices of imported goods cheaper given the won's appreciation against the dollars, he said.
US President Donald Trump yesterday announced sweeping "reciprocal tariffs" on US trading partners, including a 32 percent tax on goods from Taiwan that is set to take effect on Wednesday. At a Rose Garden event, Trump declared a 10 percent baseline tax on imports from all countries, with the White House saying it would take effect on Saturday. Countries with larger trade surpluses with the US would face higher duties beginning on Wednesday, including Taiwan (32 percent), China (34 percent), Japan (24 percent), South Korea (25 percent), Vietnam (46 percent) and Thailand (36 percent). Canada and Mexico, the two largest US trading
ACTION PLAN: Taiwan would expand procurement from the US and encourage more companies to invest in the US to deepen bilateral cooperation, Lai said The government would not impose reciprocal tariffs in retaliation against US levies, President William Lai (賴清德) said yesterday, as he announced five strategies to address the issue, including pledging to increase Taiwanese companies’ investments in the US. Lai has in the past few days met with administrative and national security officials, as well as representatives from various industries, to explore countermeasures after US President Donald Trump on Wednesday last week announced a 32 percent duty on Taiwanese imports. In a video released yesterday evening, Lai said that Taiwan would not retaliate against the US with higher tariffs and Taiwanese companies’ commitments to
CHIP EXCEPTION: An official said that an exception for Taiwanese semiconductors would have a limited effect, as most are packaged in third nations before being sold The Executive Yuan yesterday decried US President Donald Trump’s 32 percent tariff on Taiwanese goods announced hours earlier as “unfair,” saying it would lodge a representation with Washington. The Cabinet in a statement described the pledged US tariffs, expected to take effect on Wednesday next week, as “deeply unreasonable” and “highly regrettable.” Cabinet spokeswoman Michelle Lee (李慧芝) said that the government would “lodge a solemn representation” with the US Trade Representative and continue negotiating with Washington to “ensure the interests of our nation and industries.” Trump at a news conference in Washington on Wednesday announced a 10 percent baseline tariff on most goods
‘SPECIAL CHANNEL’: Taipei’s most important tasks are to stabilize industries affected by Trump’s trade tariffs and keep negotiations with Washington open, a source said National Security Council Secretary-General Joseph Wu (吳釗燮) arrived in the US for talks with US President Donald Trump’s administration, a source familiar with the matter said on Friday. Wu was leading a delegation for a meeting known as the “special channel,” the Financial Times reported earlier. It marked Trump’s first use of the channel since returning to the White House on Jan. 20. Citing a source familiar with the matter, the Financial Times reported that Minister of Foreign Affairs Lin Chia-lung (林佳龍) was also a part of the delegation. The visit came days after China concluded war games around Taiwan and amid Trump’s
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