Taiwan is to purchase more US goods, ranging from agricultural products to natural gas, President William Lai (賴清德) told a business community in Taipei yesterday, as part of efforts to reduce the trade deficit with the US.
“Taiwan is going to expand procurement from the US of industrial and agricultural products, as well as natural gas,” Lai said at the Hsieh Nien Fan banquet hosted by the American Chamber of Commerce in Taiwan (AmCham Taiwan).
The president also turned to visiting Alaska Governor Mike Dunleavy and said that Taiwan “[is] very interested in buying Alaskan natural gas because it can meet our needs and ensure our energy security.”
Photo: Chang Chia-ming, Taipei Times
Lai’s comments reflected his administration’s broader efforts to reduce Taiwan’s trade deficit with the US following tariff threats by US President Donald Trump.
The comments, made in front of about 800 attendees, including officials and business representatives from Taiwan and the US, also came hours after Minister of Foreign Affairs Lin Chia-lung (林佳龍) revealed that an official delegation would visit the US in September to purchase agricultural goods.
They also come as state-owned energy giant CPC Corp yesterday signed a letter of intent to buy liquefied natural gas from Alaska, government officials said.
The agreement, signed with state-run Alaska Gasline Development Corp, would be followed by talks about “procurement and investment details to achieve mutually beneficial and win-win cooperation goals,” the Ministry of Economic Affairs said.
At the AmCham Taiwan event, Lai also described Taiwan as “an indispensable partner” for the US as the latter seeks to reindustrialize and consolidate its high-tech leadership.
“I am confident that Taiwanese and American companies can leverage their respective high-tech expertise and invest in each other, boosting growth in industrial innovation and development for both our economies,” Lai said.
He said that Taiwan Semiconductor Manufacturing Co’s (TSMC) expansion in the US highlights such enduring prosperity shared by Taiwan and the US, adding that Taiwan’s semiconductor manufacturing “plays an irreplaceable part in the supply chain.”
Lai was referring to TSMC’s recent pledge to invest US$100 billion to build three more foundries, a research and development center, and two packaging facilities in Arizona, in addition to its previous commitment to invest a total of US$65 billion in three chip foundries, one of which has begun operation.
TSMC’s newly announced venture to produce cutting-edge semiconductors has raised concerns from Taiwanese opposition party figures and critics that Taiwan could lose its competitive advantage and unique importance as the hub of global chipmaking.
In a bid to dispel such concerns, American Institute in Taiwan Director Raymond Greene compared TSMC’s investment in the US with that of US tech companies in Taiwan.
“TSMC’s new fabs in Arizona are not going to reduce demand in the world for the world’s most efficient semiconductor ecosystem here in Taiwan,” Greene said.
Semiconductor technology partnership is not a zero-sum game, he said, adding that the US is “a launchpad for Taiwan companies, providing unparalleled access to the world’s largest consumer market and most advanced research ecosystem.”
On the security front, Greene said that the US “stands strong with Taiwan and our allies in the Indo-Pacific region to deter conflict and coercion,” in what appeared to be another effort to ease anxieties in Taiwan following Trump’s policy shift on the war in Ukraine.
“The United States has made clear that we oppose any forced, compelled or coercive change to the status of Taiwan,” Greene said.
“Maintaining peace and stability across the Taiwan Strait is absolutely critical for the economic well-being of the United States and the entire world,” he added.
Additional reporting by AFP
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