King Gives “Thumbs Up!” to $2.8 Billion Agriculture Deal with Taiwan
Congressman Steve King released the following statement and photos after joining with Lieutenant Governor Adam Gregg, IEDA COO Rita Grimm, Iowa Corn’s Mark Heckman, Iowa Soybean’s Rolland Schnell, and Taiwanese government officials today in Des Moines to finalize a deal in which the Republic of China (Taiwan) will purchase American corn, soybeans, and wheat worth an estimated $2.8 billion. Congressman King recently traveled to Taiwan to personally meet with Taiwanese officials, including Taiwanese President Tsai Ing-Wen and her highest ranking government ministers, on behalf of Iowa’s corn and soybean producers to successfully pitch this agreement. Much of the corn and soybeans to be purchased by the Taiwanese government will be grown on Iowa’s farms.
“It was a pleasure to welcome Taiwan’s representatives to Des Moines today, and I give their pledge to purchase $2.8 billion worth of corn, soybeans, and wheat a big ‘Thumbs Up!’,” said King. “It is important for Iowa agriculture that we work to open foreign markets to our home-grown products. This is a win-win deal which promotes both Iowa’s economic interests and also Taiwan’s food and national security needs.”
Congressman Steve King (second from right), Lt. Governor Adam Gregg (center, left), and representatives of the Taiwanese government give this $2.8 billion agriculture deal a big “thumbs up!”
Congressman Steve King (center, standing), IEDA COO Rita Grimm, (right, standing), Iowa Corn’s Mark Heckman (center, seated), Lt. Governor Adam Gregg (right, seated) and Iowa Soybeans’ Roland Schell (right, back to camera) and Taiwanese representatives finalize the trade deal.
Under the terms of the agreement struck with Taiwan, the Taiwanese are pledging to purchase between 359.1 and 370.1 million bushels of U.S. grains, worth a projected total value of $2.8 billion, in 2018-2019. The grains included in this deal are corn, soybeans, and wheat.
Congressman King recently traveled to Taiwan to represent Iowa’s interest in concluding this trade deal. During his meetings, Congressman King successfully encouraged the Taiwanese to enter into this purchase agreement. In order to solidify Taiwan’s intent, King personally met with President Tsai Ing-Wen, Minister of Agriculture Tsung-Hsien Lin, President of the Legislature Jia-Chyuan Su, Minister of Foreign Affairs Dr. David Tawei Lee, Minster of National Defense Admiral Tze-Chun Pu and Minister of Economic Affairs Mei-Hua Wang.
On Wednesday, September 13, Congressman King participated in a signing ceremony in Washington D.C., in which the Taiwanese government formally announced their intention to enter into this trade agreement. Details about Wednesday’s signing ceremony can be found here.