Taiwan's industrial factories are on a tear, according to a report from Bloomberg, as a result of the trade war between the United States and China. This is due, according to the publication, to increased orders from the United States and a growing demand for 5G smartphones. In a trade war between the U.S. and China, Taiwan is getting the spoils.
In July, production rose 3 percent, which Taiwan economics ministry deputy statistics head Wang Shu-chuan said is due mainly to components and computers being produced more domestically and getting bigger orders from the U.S.
The ministry said output "represented a record high for the month of July," Bloomberg reports.
This news comes the same day as the Chinese government announced that it will impose 5 or 10% tariffs on $75 billion of goods from the United States on Sept. 1 and Dec. 15, the same days U.S. tariffs will be put in place by President Donald Trump's administration.