Hoeven: Taiwan to Purchase $3.6 Billion of U.S. Agriculture Products, Including Soybeans and Wheat from North Dakota
Senator Joins Taiwanese & U.S. Agriculture Representatives at Signing of Letter of Intent for Purchases
WASHINGTON – Senator John Hoeven, chairman of the Senate Agriculture Appropriations Committee and a member of the Senate Agriculture Committee, today helped announce that Taiwan will purchase $3.6 billion of U.S. agriculture products across 2020 and 2021. The senator joined representatives from the U.S. and Taiwanese agriculture industries at the signing of letters of intent to make the purchases, which will include $1.1 billion of soybeans, $1.1 billion of corn, $960 million of beef products and $576 million of wheat. A portion of the soybean and wheat purchases will be from North Dakota.
Hoeven first worked as Governor of North Dakota to expand export options in Taiwan, having sent a trade delegation to the island in 2004. As U.S. Senator, he has continued his efforts to grow this important trade relationship and provide access to a valuable foreign market for U.S. producers. In 2018, Taiwan was the 8th largest importer of U.S. agricultural goods, with U.S. soybeans, corn, wheat and beef all holding a significant market share.
“Taiwan has been a reliable trade partner for North Dakota and our nation,” said Hoeven. “These purchases build on that long-standing relationship and help provide certainty for our producers, who continue to be targeted by China’s retaliatory tariffs. We appreciate the administration’s efforts to strengthen our ties to the Taiwanese market, and we will continue working with them to advance trade deals, like we have with Japan and the EU, and pass the USMCA, which needs to originate in the House. Doing so will give additional market access to our farmers and ranchers and put pressure on China to reach an agreement.”
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