Taiwan is planning a surge in US purchases over the next decade that would triple the share of American liquefied natural gas in the island’s mix.
State-operated entities could buy goods worth $200 billion from the US over the next 10 years, Minister of Economic Affairs Kuo Jyh-Huei said Thursday, according to a report from Taipei-based Economic Daily News. The purchases would include boosting the share of US LNG in Taiwan’s total imports to 30% from current levels around 10%, he said.
Asian governments from South Korea to Indonesia are rushing to sign up for LNG purchases from the US, hoping to reduce trade surpluses with the world’s largest economy and secure some relief from President Donald Trump’s sweeping “reciprocal” tariffs. Kuo said he hoped Taiwan would be included in the first wave of negotiations, according to EDN.
Taiwan’s trade surplus with the US surged more than 80% to a record $64.9 billion last year. The island got about 10% of its LNG from the US last year, with most shipments arriving from Australia and Qatar under long-term supply contracts.
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