Taiwan says ‘willing’ to buy more US natural gas, as tariffs loom

FILE PHOTO: Flags of Taiwan and U.S. are placed for a meeting in Taipei, Taiwan March 27, 2018. REUTERS/Tyrone Siu/File Photo

Taipei, Taiwan — Taiwanese state-owned energy giant CPC Corporation “is willing” to increase natural gas imports from the United States, Taiwan said Monday, after US President Donald Trump threatened tariffs on the island’s semiconductor chips.

Taiwan imports nearly all of its energy supply, with official data showing about 38 percent of its natural gas comes from Australia, 25 percent from Qatar and just under 10 percent from the United States.

Trump, who has promised a “golden age” for the United States, has threatened several key trade partners with tariffs as he seeks to correct trade imbalances.

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“CPC Corporation, considering factors such as shorter shipping routes and dispersed transport routes, is indeed very interested in Alaskan natural gas,” the Ministry of Economic Affairs said in a statement.

“The company will continue assessing the feasibility and is willing to increase purchases.”

The statement came after Trump warned of tariffs on overseas-made chips as part of an attempt to drive companies to shift manufacturing to the United States.

Taiwan is a global power in the manufacturing of chips, which are used in products from Apple’s iPhones to Nvidia’s artificial intelligence hardware and are a key driver of its economy.

Trump, who has accused Taiwan of stealing the US chip industry, recently threatened to impose up to a 100 percent tax on imported semiconductors from the island.

Economic Minister Kuo Jyh-huei told reporters on Saturday that he will dispatch his deputy to the United States to discuss the possible tariffs with “people around Trump”.