Taipei, Taiwan — China’s textile industry is in jeopardy because of the trade restrictions imposed by Taiwan, the government said on Friday, as it tried to convince multinational corporations to invest in its industry.
The Taiwan Presidency issued a statement late Friday saying the textile industry will have to focus on its primary focus, which is on producing quality products and making the best products possible to compete with competitors in the global market.
“Our industry is facing a severe downturn because of China-related trade restrictions,” the statement said.
“We will continue to take our efforts to strengthen our textile industry and provide our best products for our customers.”
The statement was in response to an inquiry by a senior Taiwanese government official on whether the country’s textile trade restrictions had affected the textile sector, which has traditionally been highly dependent on exports of cotton and silk, as well as its own domestic market.
Taiwan imports more than $1 trillion of textiles a year from China, a significant share of its $4.6 trillion trade.
Taipei’s textile exports to China in 2016, for example, rose to $5.9 billion from $2.7 billion, but the overall number of exports dropped by more than half, from 1.9 million tons to 1.3 million.
Taipean textile exports have been growing steadily, but at a slower pace than China’s.
Taiwan’s textile output dropped by nearly 50 percent between 2014 and 2016.
In March, the Taiwan government announced that its government would start to open up the country to the import of Taiwanese textiles, a move that has been criticized by many industry groups as an attack on the country.