Taiwan’s exports to the US topped the record for any month’s shipments to China, underscoring rapidly shifting East Asian supply chains.
The archipelago’s shipments to the US rose to $11.89 billion in August, data from the Finance Ministry in Taipei showed on Monday. That beat the previous high of $11.72 billion to China in 2021.
Also, Taiwan’s exports climbed to a record last month, coming in at $43.64 billion.
The new monthly record is partly the result of a yearslong campaign by the US to rewire Asian trade, highlighted by President Joe Biden’s sweeping tariff hikes on a range of Chinese imports. Japan’s exports to the US have been above shipments to China for 22 months, the longest stretch since 2017.