The fervor surrounding Artificial Intelligence in the United States has resulted in imports from Taiwan surpassing those from China for the first time in decades.
Data released by the U.S. Department of Commerce indicates that American purchases of goods from China plummeted by nearly 44% year-over-year in December, settling at $21.1 billion. Conversely, shipments originating from Taiwan during the same timeframe more than doubled, reaching $24.7 billion.
Goldman Sachs financial experts suggest that the hundreds of billions of dollars the U.S. has invested in AI have had a negligible impact on the nation’s economy thus far.
As recently as 2023, Taiwan sent more exports to China than to any other destination. However, last year, the volume of goods transported to the U.S. was approximately double the trade volume with China.
Last year was notable in the context of U.S. engagement with both Taiwan and China, partly defined by massive chip shipments in the former relationship and the imposition of new tariffs in the latter.
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