Taiwan to Purchase $200 Billion Additional US Products

Taiwanese Minister of Economics Koo Jie-hui announced a plan to expand trade between Taiwan and the United States, potentially purchasing up to $200 billion in additional goods from the United States over the next decade.

The minister also indicated that the country plans to increase the proportion of liquefied natural gas (LNG) it imports from the United States from 10% to 30% of its total imports.

This announcement follows statements by Taiwanese President Lai Ching-te, who pledged earlier this week to pursue a tariff-free agreement with the United States and to boost investment in the US sector.

Taiwan was on the verge of facing a 32% tariff on its exports to the US, which led to a collapse in the Taiwanese stock market, but the tariffs were postponed by US President Donald Trump.