Taiwan’s exports to the U.S. exceeded any previous record for shipments to China, emphasizing the swift changes occurring in East Asian supply chains.
In August, Taiwan’s shipment to the U.S. surged to $11.89 billion, as reported by the Finance Ministry on Monday, beating the previous monthly record high of $11.72 billion to China in 2021, while the overall figures hit a record high at $43.64 billion.
The new monthly record is partly the result of the U.S. campaign to restructure Asian trade, raising tariffs on various Chinese imports.
On the other hand, as China was hit with a spike in tariffs, Japan’s exports to the U.S. have exceeded China for 22 consecutive months.
China temporarily lost its status as South Korea’s primary export market to the U.S. in December, only to reclaim the position in recent months.
The new monthly record was also impacted by the U.S.’s artificial intelligence boom, which drove a rise in Taiwanese exports. The U.S. has been one of Taiwanese biggest customers for their chips, made by big tech companies like Nvidia Corps. and are a critical component for powering computer graphics and training AI services.
