Taiwan is reducing its reliance on the Chinese mainland as it seeks to insulate itself from pressure from Beijing and forge closer economic and trade ties with the United States
— the world's No. 2 economy that threatens to take the democratically ruled island by force if necessary.
In a stark illustration of the shift, the U.S. displaced mainland China as the top destination for Taiwan’s exports in the first quarter of the year for the first time since the start of 2016, when comparable data became available. The island exported $24.6 billion worth of goods to the U.S. in the first three months, compared with $22.4 billion to mainland China, according to Taiwan’s official data.
“Everything is motivated by ... a desire to build Taiwan’s deterrent capability and their resilience, all in support of maintaining the status quo and deterring China from being tempted to take ... action against Taiwan,” Assistant Secretary of State Daniel Kritenbrink said. King Yuan Electronics Corp., a Taiwanese company specializing in semiconductor testing and packaging, said last month that it would sell off its $670 million stake in a venture in the eastern Chinese city of Suzhou. KYEC cited geopolitics, the U.S. export ban on advanced chips to China and Beijing’s policy of seeking self-sufficiency in the technology.
The recent trade data reflect “the strategy from both Taiwan and the U.S. to reorient that trade in an effort to de-risk from China,” said Hung Tran, a nonresident senior fellow with the Atlantic Council’s GeoEconomics Center. When the independent-leaning Democratic Progressive Party gained power in Taiwan in 2016, the new government put forward a policy to distance the island from the mainland and boost economic ties with other countries in the region, especially in Southeast Asia. Unhappy Beijing turned to its economic leverage to try to bring Taiwan to heel.
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