US, Taiwan ink deal to ease barriers in farm, food trade

The US and Taiwan signed a reciprocal trade agreement Feb. 12, which will give US industrial and agricultural exports preferential market access to Taiwan and cap US tariffs on Taiwanese goods at 15%, the US Trade Representative's office said.

The US is Taiwan's largest supplier of farm goods, led by soybeans, corn and wheat in terms of volume, while US beef exports to Taiwan lead in terms of value in 2024, data from the US department of Agriculture showed.

The Taiwan side has committed to resolving and preventing non-tariff barriers to US agricultural exports, including beef, pork, poultry, and processed potatoes. It will also work with the US side to complete the regulatory process to allow bison meat into Taiwan, according to a fact sheet released by the USTR on Feb. 12.

The US Meat Export Federation said on Feb. 12 that the elimination of tariffs on US beef would improve competitiveness. Taiwan is the fifth largest market for US beef, with exports valued at about $650 million, and the US is the largest supplier of beef to Taiwan, USMEF said.

On the pork trade, the industry group said that the EU and Canada currently dominate the Taiwanese market, but said that reducing both tariffs and non-tariff barriers will help enable larger US pork exports to Taiwan.

Currently, Taiwan levies a T$10 ($0.32) duty per kilogram on imported beef, with a temporary reduction until March 2026, and a 12.5% duty on pork, according to USMEF data, while frozen meats, offal, and specialty cuts have higher duties ranging from 15% to 42.5%.

The current deal follows a trade agreement in January, wherein Taiwanese chip and technology companies will invest at least $250 billion in production capacity in the US and in exchange, the US will reduce the reciprocal tariff limit on Taiwan to 15% from an earlier 20%.

Agricultural trade flows

So far in 2026, Taiwan has committed to purchase 15,700 metric tons of beef from the US, up 26.6% higher on year, the US Department of Agriculture data showed on Feb. 12.

In 2025, Taiwan purchased 64,200 mt beef from the US compared with 63,600 mt in the previous season, USDA data showed.

For pork, Taiwan has committed to buying 1,400 mt so far in 2026, up 250% year over year, USDA data showed.

On the grains side, Taiwan has made commitments to import 1.66 million mt of corn so far in marketing year 2025-26 (September-August), sharply up from 482,800 mt in the corresponding period last year, USDA said.

In MY 2024-25, Taiwan imported 2.25 million mt corn from the US, up 42.2% higher on year, USDA data showed.

For soybeans, Taiwan has committed to purchase 1.07 million mt so far in MY 2025-26, up 29.1% higher on year, according to the USDA.

The USDA data showed Taiwan bought 1.46 million mt of soybeans in MY 2024-25, 59.6% higher year over year.

Platts, part of S&P Global Energy, assessed 90CL beef CIF US at $8,135/mt on Feb. 12 for a 30- to 60-day shipment period, unchanged day over day. Platts assessed 95CL beef CIF US at $8,554/mt on Feb. 11 for a 30- to 60-day shipment period, unchanged day over day.

Platts last assessed US pork loins at $3,306.94/mt on Feb. 12, unchanged day over day.

Platts assessed US SOYBEX FOB New Orleans at $461.96/mt on Feb. 12, up $4.87/mt day over day. Platts assessed US corn CIR New Orleans at $209.55/mt on Feb. 12, up $1.5 /mt day over day.