exports represented about 3 percent of all steel exported globally in 2017, based on available data. The volume of Taiwan's 2018 steel exports was one-sixth that of the world's largest exporter, China, and nearly one-third that of the second-largest exporter, Japan. In value terms, steel represented just 3.6 percent of the total amount of goods Taiwan exported in 2018. Taiwan exports steel to more than 130 countries and territories. Over the decade from 2009 to 2019, Taiwan grew its steel exports by 24%. In 2018, the US imported 300,000 metric tons of pipe and tube product. Taiwan has developed a vast export trade to its most proximate neighbours in flat products. Taiwan's stainless steel exports numbered in 2018 about 500,000 metric tons. Taiwan is the fourth largest exporter of machine tools and machine tool components in the world. The greater Taichung area is home to a cluster of machine tool manufacturers. Taiwanese company Techman Robot Inc. is the world's second largest producer of cobots. The automotive industry in Taiwan is significant with Taiwanese firms increasingly invested in automotive electrification, 75% of Tesla, Inc.’s suppliers are Taiwanese. Maritime industries In 2017 Taiwan exported one hundred and sixty two yachts. In 2018 Taiwan was the fourth largest yacht building nation by feet of yacht built after Italy, The Netherlands and Turkey. Taiwan is one of the largest fishing nations on earth and the associated fish processing industry is also significant. Largest companies According to the 2019 Forbes Global 2000 index, Taiwan's largest publicly traded companies are: According to the 2022 Fortune Global 500 Rankings, Taiwan's largest publicly traded companies are: Labor policy Union policies The Labor Union Laws, legislated by the Kuomintang (KMT) on the mainland, gave Taiwan workers the right to unionize. However, prior to the democratization of Taiwan, the functions of trade unions were limited under strict regulation and state corporatism. Under the Labor Union Laws, workers were only allowed to be organized at the companies, which means industry level unions were forbidden. Also, only one union could exist within each company or geographical area. Special occupational groups such as teachers were not allowed to unionize. The right to strike and collective bargaining were also hamstrung by law. The Collective Bargaining Agreement in 1930 stipulated that collective bargains were not legally valid without government approval. The democratization in 1986 brought dramatic changes to union participation and policies. Between 1986 and