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A Biden-Win in U.S. Elections Favorable for Taiwan's Machinery: TAMI

Nov 10, 2020 | By CENS

With the U.S. presidential election projecting a win on the Biden-Harris ticket, the Taiwan Association of Machinery Industry (TAMI) believes regardless of the result, the American's manufacturing policies will still favor Taiwan's industry.

TAMI Chairman Alex Ko, speaking to Taiwan's state-backed Central News Agency, pointed out that American policies are still likely to buoy Taiwan's machinery export value. Under this backdrop, Taiwanese machinery firms can expect to do business in both the American and Chinese markets.

He concedes that not much would change under the new Biden administration. From Taiwan's machinery industry perspective, Ko said before the China-U.S. trade tensions boiling over, the Chinese market made up around 30% of Taiwan's machinery output, with 17% going to the American market.

A year more into the trade war, the American market now makes up 20% of Taiwan's machinery output; this year, the previous nine months make up 22% in total, signaling the current U.S. policy is still quite favorable for Taiwan's machinery exports, Ko said.

The chairman said he hopes to see U.S. figures to exceed 20% this year and estimates Chinese exports to fall around 29%.

At the time of writing, American mainstream media has collectively projected the Democratic Party Presidential Candidate Joseph R. Biden Jr.'s victory over President Donald Trump. However, Trump has refused to concede, vowing to pursue legal challenges to contest the results.

(File Photo: UDN)(File Photo: UDN)


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