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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
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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.