Day: May 5, 2025

Across the world, the doors are closing to Chinese exports, and Chinese manufacturers are rapidly running out of options.

U.S. Indo-Pacific Commander Admiral Samuel Paparo says China is vastly outproducing the United States in military hardware, warning that the imbalance could complicate efforts to defend Taiwan.

Bridges catching on fire and collapsing…Just another day in communist China!

The Taiwan dollar saw its sharpest single-day rise in 37 years on Monday, leading to many exchangers scrambling in hopes of turning a profit. Many showed up at banks, and even more logged into their banking apps, which could not handle to traffic. At the end of the day, the Taiwan dollar closed at NT$30.145 against the greenback, a 91.9 cent increase. The exchange volume also broke records at US$4.01 billion. The bank is packed with people looking to exchange currencies. Exchanging for USDI rushed to get here when I saw that it’s NT$29. But wow, it’s still NT$30. I’m shocked. I didn’t expect to see so many people here.The Taiwan dollar has seen a sharp rise since the start of the month. On Monday, it reached NT$29.59 against the greenback, while the percentage increase reached a 37-year high. As for the Japanese yen, it was worth as little as NT$0.2090 at one point. In other words, with NT$100,000, you could get an additional 53,000 yen compared to just 15 days ago. Banking apps could not handle all the traffic from the great number of people looking to score a good deal.It may be great news for importers and Taiwanese traveling abroad, but a nightmare for exporters and US dollar holders.Voice of Teng Kuei-yuMachinery parts manufacturerWith the appreciation, I believe more than half of SMEs will go under. Why? Let’s say I gave a quote when it was NT$33, but now it’s NT$29, meaning there’s a NT$4 difference. In other words, if I have an order worth US$10 million, I’d be losing NT$40 million. On Monday, the Taiwan dollar gained another 91.9 cents against the dollar to close at NT$30.145 for one US dollar. The total exchange volume reached US$4.01 billion to set a new record in a single day.It was speculated that the administration had agreed to a “Mar-a-Lago Accord” with the US to allow the dollar to depreciate, causing the Taiwan dollar’s sharp rise since May 3. Central Bank Governor Yang Chin-long on Monday denied the rumor.Yang Chin-longCentral Bank governorIn fact, the Central Bank does not manipulate the currency. We’re also not listed as a currency manipulator. As for the so-called Mar-a-Lago Accord which has the US pressure trade adversaries to appreciate their currency, I’ve already addressed this during a legislative appellation. We’ve always emphasized that there is no such agreement.Yang said the US did not pressure Taiwan to appreciate its currency, nor is Taiwan named a currency manipulator. He also stressed that the central bank is not involved in trade talks, and urged the public to refrain from speculations. #finance #forex #Trump #tradewar #tariffs #MarALagoAccord#台灣新聞 #TaiwanNews #民視新聞 #FTV新聞 #Taiwan

Today we’re discussing the Trump administration’s 96th tariff policy which imposes port fees on Chinese ships.