USDA Leads Agribusiness Trade Mission to Taiwan to Boost U.S. Exports

What's Happening?

Under Secretary for Trade and Foreign Agricultural Affairs Luke J. Lindberg is leading a U.S. Department of Agriculture (USDA) agribusiness trade mission to Taiwan. The mission aims to expand market access and increase U.S. agricultural exports. The delegation includes 39 agribusinesses, trade organizations, and representatives from three state departments of agriculture. Taiwan is a significant market for U.S. agricultural products, ranking as the eighth-largest globally. The mission seeks to capitalize on Taiwan's commitment to increase purchases of U.S. agricultural products by 30% over the next four years. In 2024, the U.S. exported $3.8 billion worth of agricultural products to Taiwan, resulting in a $3.1 billion trade surplus.

Why It's Important?

This trade mission is crucial for U.S. agricultural producers as it aims to secure and expand their market presence in Taiwan, a high-income economy with a strong demand for quality American agricultural products. The mission supports U.S. family farms by potentially increasing sales and strengthening trade relations. Taiwan's commitment to increase its purchases of U.S. agricultural products by 30% over the next four years represents a significant opportunity for growth in exports of soybeans, corn, wheat, dairy, beef, fresh fruit, and tree nuts. This initiative not only benefits U.S. farmers but also reinforces the economic ties between the U.S. and Taiwan.

What's Next?

The USDA trade mission will focus on locking in recent commitments from Taiwanese officials and securing new sales agreements. The delegation will engage in discussions and negotiations to ensure that U.S. agricultural products continue to meet the demands of Taiwanese consumers. The success of this mission could lead to further trade missions and collaborations, enhancing the U.S.'s position as a leading supplier of agricultural products to Taiwan.