Index: wordpress/wp-admin/import/wordpress.php
===================================================================
--- wordpress/wp-admin/import/wordpress.php	(revision 6342)
+++ wordpress/wp-admin/import/wordpress.php	(working copy)
@@ -440,10 +440,12 @@
 
 		$this->file = get_attached_file($this->id);
 		$this->get_authors_from_post();
+		wp_defer_term_counting(true);
 		$this->get_entries(array(&$this, 'process_post'));
 		$this->process_categories();
 		$this->process_tags();
 		$result = $this->process_posts();
+		wp_defer_term_counting(false);
 		if ( is_wp_error( $result ) )
 			return $result;
 	}