USMCA to Indirectly Benefit Taiwan Fastener Industry

The United States-Mexico-Canada Agreement was already signed by USA, Canada and Mexico on November 30, 2018 in Argentina. Should this Agreement becomes effective, it may be favorable to Taiwan fastener industry. This Agreement encourages car manufacturers invest in USA and Canada and still retains the tariff-free measure for most goods traded within the borders of these three countries. Moreover, as these three countries are all Taiwan’s major fastener export destinations, several companies said that Taiwan may be benefited a lot if the Agreement becomes effective. These countries represent around 46% of Taiwan’s fastener export, so for many Taiwanese automotive fastener manufacturers, it is very good news.