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Taiwan's Formosa says US is best investment spot

Trump's steel tariffs won't affect industrial conglomerate's $15bn projects

Formosa Plastics Group is monitoring and assessing the impact of a trade war if the U.S. does impose those tariffs on key metals.

TAIPEI -- The chairman of Taiwan's largest industrial conglomerate Formosa Plastics Group on Monday said his company's $15 billion investment in the U.S will not be affected by President Donald Trump's plan to impose across-the-board tariffs on imported steel and aluminum.

"We do think Trump's measure [to impose steel and aluminum tariffs] would lead to trade frictions in the world ... We don't know if such aggressive methods would pay off for the American economy and its impact is still unknown," Formosa Plastics Chairman William Wong said in a press conference. "But our commitment to invest in the U.S. would not be affected for sure." 

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