Taiwanese screws’ manufacturers had a bitter in 2019, with the number of orders was less and the profit was just passable. In the meeting held by Taiwan Industrial Fastener Institute (hereafter as TIFI) yesterday (December 4th), lots of members expressed their expectations and suggestions toward the Taiwanese government, such as the depreciation of the NTD, build up distribution channels worldwide, subsidy, and etc.

First of all, compared to South Korea and China, Taiwanese official currency (NTD)’s value was in a higher class, which led Taiwan’s offer out of consideration in the beginning.

Moreover, the floating exchange rate had hurt profit badly.

Mr. Yuang-Yu Tsai, the vice-chairman of Taiwan Industrial Fasteners Institute (TIFI), has been more specific pointing out the demand from the screw industry. He mentioned that the main market for Taiwanese screw manufacturers was the US and the EU, covered over 70% of the total screw exports but currently had been threatened by the competitors from China, mainly because of the subsidy policy from the Chinese government.

Mr. Yuang-Yu Tsai also encouraged the government to spend more money to help Taiwanese companies to improve the earning ability and products’ qualities.