Taiwan will substantially increase imports and exercise...
- Share via
Taiwan will substantially increase imports and exercise self-restraint in exports, if necessary, to help reduce its huge trade surplus with the United States and other countries, government officials said.
Chao Yao-tung, chairman of the Council for Economic Planning and Development, said Taiwan would almost double imports of anti-pollution equipment to about $1.5 billion in 1988 from $830 million this year. Chao’s deputy, Wang Chao-ming, said these imports, mainly from the United States and Europe, would rise annually and total more than $31 billion by 2000.
Taiwan’s 1987 trade surplus is expected to reach a record $20 billion, compared to $15.6 billion last year, he said. More than 80% of the surplus will come from trade with the United States.
Chao said the government would introduce in January its deepest round of import tariff cuts, averaging 50%, on 3,575 items, covering among others, garments, textiles, shoes, toys, cameras, bicycles and sports equipment.
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
