Taiwan: Buying more US oil and gas is the focus of tariff talks

Taiwan's trade talks with the United States are centered on increasing purchases of U.S. oil and natural gas, said President Lai Ching Te.

Lai has promised to pursue a zero-tariff regime with the United States, and to buy and invest more within the country. He is trying to thwart President Donald Trump's import tariffs that are now on hold.

Lai, who spoke to environmental groups at the White House, called on the government to support the importation of more energy from America.

His office quoted him as saying that "increased purchases from the United States including natural gas and oil, along with other essential national sources of energy, are not only the focus of the tariff negotiation between Taiwan and the U.S. but also an integral part of Taiwan's effort to strengthen its energy independence and resilience."

Taiwan's Economy Minister said this month that it could increase its percentage of LNG (liquefied natural gases) from the U.S. to one-third in order to narrow the trade gap.

Taiwan gets only 10% of its LNG supply from the United States. The rest comes from Australia and Qatar.

Taiwan's government said that the talks with the United States regarding the tariff issue were smooth.

Taiwan was due to receive a 32% tariff on imports.

(source: Reuters)