Taiwan plans to boost US LNG imports to reduce its trade surplus and avoid potential tariffs.State-owned CPC Corp. is negotiating with an Alaska-based supplier, according to local reports.Other buyers, including South Korea, Vietnam, and the EU, are also increasing US energy imports to ease tariff concerns.
Taiwan’s trade surplus with the United States saw a sharp increase of over 80 percent, reaching a record high of $64.9 billion last year. In an effort to address this imbalance and potentially avoid higher tariffs, Taiwan is looking to increase its imports of liquefied natural gas (LNG) from the US.
Currently, the island sources approximately 10 percent of its LNG from the United States, with the majority of its supply coming from Australia and Qatar under long-term contracts.
By expanding its purchases of American LNG, Taiwan aims to strengthen economic ties with the US while diversifying its energy sources.
