Radio Taiwan Internatiomnal
Date: 2018-01-17

Economics Minister Shen Jong-chin said that Taiwan is buying liquefied natural gas

(CNA)

from the US to help reduce the trade imbalance between the two sides. He was speaking in an interview with the US news website Politico.

Shen said that Taiwan’s state-run energy company, CPC Corporation, has signed a 20 year contract to buy liquefied natural gas from the US beginning this year. Shen has also said that Taiwan is happy to find ways to reduce Taiwan’s trade imbalance with the US.

Taiwan is the US’s tenth largest trade partner. However, Taiwan exports more to the US than it imports. US Department of Commerce statistics show that as of November 2017, the US had a US$10.5 billion trade deficit with Taiwan that year. That’s a US$3 billion increase over the previous year’s trade deficit.    [FULL  STORY]