King Persuades Taiwan to Buy $2.8 Billion of Corn, Soybeans, Wheat
Washington, D.C.- Congressman Steve King released the following statement after joining with representatives of the Republic of China (Taiwan) at a ceremony to sign “Letters of Intent” announcing Taiwan’s decision to make significant purchases of American corn, soybeans, and wheat in 2018 and 2019. Under the terms of the letters signed today, Taiwan is declaring it will purchase 359.1 to 370.1 million bushels of U.S. grains, worth a projected total value of $2.8 billion, over the next two years. Today’s signing ceremony follows Congressman King’s strong advocacy efforts on behalf of Iowa agriculture. Last month, King personally met with Taiwanese officials including 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 to encourage these government officials to pursue these agreements and to purchase more agricultural goods.
“Taiwan’s decision to purchase approximately $2.8 billion of U.S. grains is good news, particularly for Iowa’s corn and soybean producers,” said King. “I look forward to welcoming the Taiwan trade delegation to the Heart of the Heartland on Friday to finalize this agreement. Taiwan is an important trading partner, and I am pleased that my efforts to encourage them to buy more American agricultural goods are paying off. When Taiwan buys American grains to feed their countrymen, Iowa’s rural economy benefits and the national defense posture of Taiwan gets stronger. Looking forward, it will be important to build on our success trading with Taiwan to expand market access for Iowa’s goods throughout Asia.”
Congressman Steve King delivers remarks before signing “Letters of Intent” with Taiwan.
Congressman Steve King (left) witnesses Taiwan’s signing of Letters of Intent to purchase $2.8 billion of corn, soybeans and wheat.
On Friday, September 15, Congressman King will be meeting with a Taiwanese trade delegation in Iowa to finalize the trade agreements agreed to this afternoon.