Firms at risk over US-China trade: CNFIBy Crystal Hsu / Staff reporterThe government should pay serious attention to escalating US-China trade tensions, which are putting local firms at risk, as the two economies account for 60 percent of Taiwan’s exports, the Taipei-based Chinese National Federation of Industries (CNFI, 全國工總) said yesterday. “The government must not take the trade tensions lightly, but should draw up effective, pragmatic policies to support local industries,” CNFI chairman William Wong (王文淵) told a news conference in Taipei after releasing the trade group’s annual position paper. Chinese National Federation of Industries (CNFI) chairman William Wong, center, speaks at a news conference in Taipei yesterday, as CNFI vice chairman Matthew Miao, left, and Pan Chun-jung, convener of its board of supervisors, look on. The pandemic is another challenge that could push many local companies out of business, especially non-tech firms whose business order and profit margins are dwindling, CNFI said. CNFI secretary-general Tsai Lien-sheng (蔡練生) said that government relief and stimulus measures are inadequate in scale and do not reach firms that are in need.

Source: Taipei Times August 25, 2020 15:56 UTC