By: Ozzy Yin and Frances Huang
New York, Sept. 28 (CNA) Taiwan has agreed to buy up to US$1.56 billion-worth of
soybeans from the United States in 2018-2019, the Taipei Economic and Cultural Office in Chicago said Friday.
A Taiwanese agricultural trade delegation signed a letter of intent on soybean purchases Thursday with the Minnesota Soybean Research and Promotion Council, the Taiwanese representative office in Chicago said in a statement.
The Taiwanese delegation was led by Taiwan Vegetable Oil Manufacturers Association Chairman Hung Yau-kuen (洪堯昆). Hung said the purchase of soybeans showed Taiwan’s support for American farmers at a time of rising trade friction between the United States and China.
So far this year, Washington has imposed tariffs on US$250 billion- worth of Chinese goods, while China has retaliated by targeting U.S. merchandise including agricultural products such as soybeans and corn. [FULL STORY]