Rep. King announces trade deal with Taiwan

Agriculture

WASHINGTON (KCAU) – While the USMCA may not be passed yet, another deal with Taiwan may be helping ease some tensions on local farmers.

The country has signed an intent to purchase more than $3.5 billion worth of American corn, soybeans, wheat and beef over the next two years.

Iowa Representative Steve King annouced that deal in a Thursday release. He attended the 2019 Taiwan Agricultural Trade Goodwill Nission in Washington D.C. earlier in the week.

“I am pleased that the Taiwanese continue to make the purchase of American corn, soybeans, wheat, and beef a priority,” said King. “I have traveled to Taiwan twice, and I have sent members of my staff to the island on six occasions, and this has strengthened the working relationships I have developed with the Taiwanese trade delegation. The Taiwanese were greatly impressed with what they saw when I brought trade delegation members to Iowa to tour farms in Nevada and Hinton last September. We have cultivated relationships with Taiwan, and they have yielded well.”

The letters of intent indicate that Taiwan will be purchasing 370 million bushels of grain between 2020 and 2021, for a total purchase of $1.1. billion in U.S. corn, $1.1 billion in U.S. soybeans, and $576 million of U.S. wheat.

King said that Taiwan also intend to purchase approximately $960 million in U.S. beef.

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