TAIPEI (TVBS News) — The Taiwan Machine Tool & Accessory Builder's Association (TMBA, 台灣工具機暨零組件工業同業公會) on Monday (Nov. 11) warned that U.S. President-elect Donald Trump's policies could present both challenges and opportunities for Taiwan's machine tool industry.
The association anticipates that the U.S. will push for manufacturing repatriation and impose higher import tariffs to revitalize the Rust Belt. It advised Taiwanese businesses to expand into Southeast Asia and Europe to mitigate reliance on a single market, enhancing regional operations and supply chain resilience.
Taiwan's industry can deepen its presence in European and Japanese markets and leverage smart manufacturing to adjust export layouts and upgrade technology, the TMBA said. The association believes these strategies can help Taiwan seize opportunities amid the uncertainties of Trump's new policies and strengthen global competitiveness.
In October, machine tool exports reached US$184 million, marking a 13.3% increase from September but a 9.1% decrease compared to the same period last year. The total export value for the first 10 months of 2024 was US$1.809 billion, down 17.1% from 2023.
Key markets included China (including Hong Kong), the U.S., Turkey, India, Vietnam, Thailand, Germany, the Netherlands, South Korea, and Japan. Machine tool component exports in October amounted to US$121 million, with a 0.2% monthly increase and a 10.3% annual rise.
The total for the first 10 months was approximately US$1.247 billion, a 0.6% decrease from 2023. China (including Hong Kong), the U.S., Japan, India, the Netherlands, South Korea, Italy, Germany, Thailand, and Turkey were major markets.
