TAIPEI (TVBS News) — President Tsai Ing-wen emphasized in her New Year's address that bilateral trade relations should not be used as a political tool, criticizing China for setting one-sided trade barriers on political grounds.
As of Jan. 1, 2024, the tariff preference for some products under the Economic Cooperation Framework Agreement (ECFA) has been suspended.
In an interview on Monday, Tsai noted that China's intervention in elections is no longer news and expressed faith that the people of Taiwan would make a wise decision.
Asked about the potential impact on Taiwan's economy if China concludes the ECFA before her tenure ends, President Tsai contended that Taiwan's industries already have direct global exposure, gradually divorcing from the old path of reaching the world through China.
Regarding the ECFA, President Tsai said that while its economic benefits are limited, diversifying risks and global positioning remain a trend for Taiwan's industries in the future.
President Tsai pointed out that China often sets unilateral trade barriers against other countries for political reasons.
For instance, both Lithuania and Australia faced punitive tariffs or import bans from China because of Lithuania's friendly relationship with Taiwan and Australia's criticism of China's human rights policy in Xinjiang, she stated.