TAIPEI (TVBS News) — Taiwan's economy will grow by over 4% in 2024, driven by the impact of artificial intelligence (AI), according to the Minister of National Development Council's (NDC, 國家發展委員會) anticipation.
NDC Minister Liu Chin-ching (劉鏡清) addressed the Economics Committee (立法院經濟委員會) on Thursday (Nov. 21) and discussed Taiwan's economic outlook amid global uncertainties. Liu projected the economy to grow over 3% in 2025, emphasizing potential benefits from U.S. trade policies under President-elect Donald Trump.
He noted that increasing tariffs on Chinese imports to 60% might redirect orders to Taiwan. Liu stated that the U.S. is becoming increasingly hawkish towards China, and measures like technology bans will encourage stronger U.S.-Taiwan tech cooperation, benefiting Taiwan overall.
However, Liu acknowledged uncertainties, including fluctuations in Taiwan's trade volume and potential U.S. 10% tariff sanctions on other countries. He has discussed these concerns with Economic Minister J. W. Kuo (郭智輝). Kuomintang (KMT, 國民黨) Legislator Yang Chiung-ying (楊瓊瓔) inquired about TSMC's (台積電) plans to build factories in Taiwan over the next decade. Liu responded that the semiconductor industry needs 6,000 additional workers annually.
