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對等關稅衍生貨幣戰？黃志芳籲台灣成立主權基金因應
Will reciprocal tariffs lead to a currency war? Huang Zhifang urges Taiwan to establish a sovereign fund to respond
Yahoo Finance | Local Language | News | May 1, 2025 | Geopolitical Conflict and Disputes
US President Trump's tariff threats have raised concerns about a potential currency war, prompting Huang Chih-fang, chairman of the Taiwan External Trade Development Council, to advocate for the establishment of a sovereign fund for Taiwan. He argues that while the appreciation of the New Taiwan dollar could adversely affect exports, it presents an opportunity for Taiwan to create a new economic model, enhance overseas investments, and boost domestic purchasing power.
Speaking at a forum on the evolving global economic landscape, Huang described Trump's approach as an attempt to reshape the world order and reindustrialize the US. He believes this strategy, marked by tariffs as both a trade and diplomatic weapon, will continue even after Trump’s presidency. Huang warned that US trade policy could significantly impact Taiwan's industries, particularly as China's competitive capabilities grow, necessitating a focus on maintaining Taiwan's advantages in semiconductor and electronics sectors.
Huang proposed that Taiwan's response to shifting trade dynamics should include a transition influenced by currency appreciation, raising domestic demand, and expanding internationally beyond manufacturing to finance and technology. He stressed that establishing a sovereign fund would empower Taiwan amidst chaotic global economic conditions driven by Trump's policies, which he likened to strategies that induce inter-country rivalry where nations must "fight each other." Huang concluded that the fluctuating nature of tariffs under Trump highlights the need for proactive economic measures in Taiwan.