Taiwan To Buy US$10 Billion in US Agricultural Products Over Four Years

TaiwanPlus News

Taiwan has agreed to buy US$10 billion in US agricultural products over four years. The agriculture minister says that while Taiwan hopes to lower US tariffs on its goods by buying American, the growing amount its buying from the US stems from market demand.

Transcript

00:00Taiwan is set to buy 10 billion U.S. dollars worth of farm goods from the United States within four years.

00:06It's about 25 percent increase compared to past five years.

00:13And this is very important, the one step forward.

00:17A group of Taiwanese agriculture representatives were in Washington to sign the deal,

00:22which covers soybeans, wheat, corn and beef.

00:25Agriculture Minister Chen Junji says Taiwan hopes buying more high-quality U.S. goods

00:30will encourage Washington to lower tariffs on Taiwanese products.

00:34But he said the purchases are really driven by market demand.

00:37The move is already drawing positive reactions from some U.S. lawmakers.

00:42We have to open markets and we want to thank people from Taiwan,

00:48your officials and your business people that are here with you to sign these agreements.

00:55It's very, very important that we do what we can to get markets overseas.

01:04The Taiwan delegation's 13-day trip will include visits to farming communities in a number of U.S. states.

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