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Taiwan could buy $200 billion more from US, increase LNG imports as part of trade deal
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Taiwan could buy $200 billion more from US, increase LNG imports as part of trade deal
Apr 10, 2025 12:25 AM

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Taiwan economy minister eyes more LNG imports from US

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Taiwan foreign minister wants 'coalition' with US on trade

*

Taiwan stocks rebound after three days of precipitous

falls

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Taiwan central bank warns stock market uncertainty not

lifted

By Ben Blanchard and Faith Hung

TAIPEI, April 10 (Reuters) - Taiwan state-backed bodies

could over the next decade buy an extra $200 billion from the

United States and bump up the percentage of LNG it gets from the

county by one-third to help narrow the trade deficit, the

economy minister said on Thursday.

Taiwan President Lai Ching-te on Sunday pledged to seek a

zero tariff regime with the United States and buy more from and

invest more in the country, and said that Taipei would not

retaliate in response to U.S. tariffs - now put on pause by

President Donald Trump.

Taiwan had been due to be hit with a 32% tariff, sending its

stock market plummeting, though the key semiconductor industry

was excluded.

Taking lawmakers' questions in parliament about the

government's response to the tariffs, Economy Minister Kuo

Jyh-huei said the plan being discussed was some $200 billion in

extra purchases over the coming decade by the government and

state-run companies.

That does not include purchases by private companies, he

added.

Asked about raising the proportion of Taiwan's imports

of liquefied natural gas (LNG) from the United States from 10%

to 30% of the total, Kuo said that was the "direction" being

eyed.

Most of Taiwan's LNG now comes from Australia and Qatar.

Speaking to reporters at parliament, Taiwan Foreign Minister

Lin Chia-lung said there was now breathing room to have more

detailed and in-depth talks with the United States.

"We hope to take advantage of the huge U.S. market,

their excellent technology capital and talent, to form a

Taiwan-U.S. coalition, a joint fleet approach," he added.

The United States has received Taiwan's trade proposals "and

has also responded", Lin said, without giving details.

In a statement after a weekly cabinet meeting, Taiwan

Premier Cho Jung-tai said the government would seize the

opportunity to have "direct and effective" talks with the United

States.

On Thursday, Taiwan's benchmark stock index followed

global markets higher in response to the tariff reprieve,

opening up more than 9%, having plummeted the previous three

trading sessions.

Taipei-listed shares in TSMC, the world's largest

contract chipmaker, as well as those for iPhone maker Foxconn

, rebounded close to 10%. Both are major suppliers to

U.S. companies, including Apple ( AAPL ) and Nvidia ( NVDA ).

However, speaking at a separate parliamentary committee

session, Taiwan central bank governor Yang Chin-long said there

remained much uncertainty for markets and the world economy

about Trump's tariffs.

But Taiwan continues to hold more than 80% of its foreign

exchange reserves in U.S. Treasury bonds, he added.

"At present more than 80% is ideal, and we will assess

whether to increase it," Yang said.

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