本文利用1928至1929年臺、日兩地的相關文獻，來探究此時期中國的排貨運動對臺、中貿易的影響。大致說來，《日本外交文書》著重的是排日對日本整體的影響，難以得知臺、中貿易受創程度；而臺灣所留下的報紙或稅關統計資料，則對臺與對日影響兼具，顯示出殖民母國與殖民地間的差異性。 再就臺、中貿易關係來看，1920年代末期這場排貨運動，也深刻道出兩地關係在廿世紀上半葉起了重大的變化。隨著中國民族情緒日漸高漲，1920年代以後的日貨抵制運動，對臺、中貿易已轉為負面，及至1928至1929年的排貨運動，對於臺、中貿易的衝擊，又遠較歷次為甚，其最主要的因素，當與中國日益高漲的民族情緒有關。自1919年巴黎和會後，中國即積極循著參與國際體系進行集體協商、與個別國家進行雙邊談判，以實際行動強行收回租界等戰略來恢復主權。終於在1928年分別與美、英簽訂關稅條約，恢復關稅自主權。列強當中，唯有日本負隅頑抗，堅不承認中國的關稅自主，導致在本年的「濟南事件」中，遭到長達一年的排貨運動。 而臺灣此際由於和殖民母國的關係更形緊密，因此在對中國貿易上，與日本休戚與共，經常成為中國官民抵制的對象。因此，若從貿易角度來看，日治時期的臺灣與1912年建立的中華民國，不但是兩個不同的國家，而且是兩個經常處在對立面的國家。

This article used Taiwanese and Japanese related archives to inquiry the impact of the trade between Taiwan and Japan since Chinese's Japanese boycott campaign in this period. Generally speaking,“Japanese foreign instrument” is focus on the effect to all Japan of the Japanese boycott campaign. Instead, Taiwanese literatures have both Taiwan and Japan's impact. Again on the trade relationship between Taiwan and China, in the late 1920s, this time Japanese boycott campaign that assaulted the trade between Taiwan and China is strongly than previous. The most important factor might be related with the rising China's national emotions. In 1928, China, respectively, signed a customs treaty with the UK and the US to restore tariff autonomy. Only Japan firmly didn't recognize China's tariff autonomy, led Japan should face a year-long Japanese boycott campaign in this year's "Jinan event". But this time, in Taiwan, the relationship with the colonial mother country was ever more closely. Therefore, Taiwan is solidarity with Japan. On the trade with China, Taiwan frequently became the object of boycott. So if we from a trade point to view, Japanese colonial period's Taiwan and established in 1912's Republic of China, they were not only two different countries, but also often in the opposite two countries.