Taiwan's President Tsai Ing-wen has urged Taiwanese companies operating in mainland China to bring their production base back to Taiwan because the US raised tariffs on Chinese goods from the current 10 percent to 25 percent on Friday.
Tsai said in a news conference on Friday that her administration discussed measures to counter the tariff hike as many Taiwanese businesses manufacture their products in mainland China.
She said the current triangular trade model of receiving orders in Taiwan, manufacturing in mainland China and exporting to the US will change.
Tsai said they will rebuild industries with extra value in order to export high-quality products made in Taiwan to the US.
Taiwanese authorities say that 52 Taiwanese businesses operating in mainland China are making new investments in Taiwan this year, totaling about 9 billion dollars. They say this will create jobs for 27,000 people.
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