Taiwan Reportedly Eyes US LNG Imports To Reduce Trade Surplus With America

Minister of Economic Affairs Kuo Jyh-Huei reportedly said the Asian country is boosting the share of US LNG in Taiwan’s total imports to 30% from current levels around 10%.

Taiwan is looking to triple the U.S.’s share of liquefied natural gas imports in its mix to cut its trade deficit, according to a Bloomberg report, citing local media.

Minister of Economic Affairs Kuo Jyh-Huei said the Asian country is boosting the share of US LNG in Taiwan’s total imports to 30% from current levels of around 10%, according to the report citing Taipei-based Economic Daily News.

Kuo reportedly said that state-operated entities could buy goods worth $200 billion from the U.S. over the next 10 years.

Several Asian countries, including Japan, South Korea, Indonesia, and Thailand, have pledged to buy or invest in U.S. LNG to lower their trade deficit and appease President Donald Trump’s administration.

On Wednesday, Trump paused the reciprocal tariffs imposed on all countries except China to negotiate trade deals after global stock markets and U.S. treasuries were battered by the fears of recession amid a tariff war.

According to the Bloomberg report, Taiwan’s trade surplus with the U.S. jumped more than 80% to a record $64.9 billion last year.

The U.S. is already the world’s biggest LNG exporter, and several more export facilities are expected to come online throughout the rest of the decade.

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