TAIPEI: Taiwan and the United States have mutually beneficial trade relations especially in technology, and the two have"smooth" communication channels and will keep talking to each other on currency issues, Taiwan's central bank said on Saturday .
Responding, Taiwan's central bank reiterated the trade surplus with the United States was due to the China-U.S. trade war, which has seen companies shift production from China to avoid tariffs, and soaring tech demand from US consumers during the COVID-19 pandemic. Taiwan's current account surplus has also been affected by the same factors, with domestic savings growth contributing to the surplus as Taiwanese firms increased investment at home and people were unable to travel or spend as much due to the pandemic, it added.
"Communication channels between the bank and the US Treasury are smooth, and the two sides will continue to communicate on relevant issues in the future on the basis of good interaction."
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