TAIPEI (TVBS News) — Taiwan's Ministry of Agriculture (農業部) clarified Friday (Sept. 19) that domestic businesses, not the government, decided to purchase U.S. farm products. The announcement followed Wednesday's Capitol Hill signing where Taiwanese agricultural representatives pledged over US$10 billion (around NT$301.69 billion) in farm product purchases over four years.
Ongoing Taiwan-U.S. tariff negotiations prompted speculation that the agreement seeks tariff exemptions from the agriculture ministry. The ministry clarified in a press release that the biennial U.S. agricultural visit, organized by Taiwan's Ministry of Foreign Affairs (外交部), enhances agricultural trade and deepens economic partnerships. Agriculture Minister Chen Junne-jih (陳駿季) led this year's delegation, the 15th visit since 1998.
The delegation included representatives from the Taiwan Vegetable Oil Manufacturers Association (台灣植物油製煉工業同業公會), Taiwan Feed Industry Association (台灣飼料工業同業公會), and American Soybean Export Council (美國黃豆出口協會). Taiwan relies heavily on imports for these agricultural products, with import ratios of 99.8% for soybeans, 97.5% for feed corn, 106.6% for wheat, and 95.4% for beef. ◼ (At time of reporting, US$1 equals approximately NT$30.169)
