Taiwan to buy $10B of U.S. farm products, including Indiana crops

INDIANAPOLIS (WISH) — Taiwanese officials on Thursday said Indiana’s strong ties to their country make it a natural partner to strengthen their food security.

Gov. Mike Braun hosted Taiwanese Deputy Minister of Agriculture Wen-Jane Tu and Taiwanese agriculture industry representatives for a ceremonial signing of letters of intent at the Indiana Statehouse. Taiwanese officials have agreed to buy $10.4 billion worth of American agricultural products through 2029, including more than $3 billion worth of soybeans and $2 billion worth of corn from Indiana, Ohio, and Arkansas.

State-by-state totals were not provided, though Lt. Gov. Micah Beckwith, whose duties include serving as Indiana’s secretary of agriculture, said he hopes Indiana farmers will get as large a share of those purchases as possible.

The agreement comes at a time when American soybean farmers in particular face pressure due to President Donald Trump’s tariff policies. China bought $25 billion worth of American soybeans last year, but has refused to buy any this year due to tariffs, instead turning to other countries, such as Brazil. Indiana Soybean Alliance CEO Courtney Kingery said farmers are struggling right now due to a combination of high input costs and low prices.

“Anything we can do to continue to grow market opportunities and continue to grow market development opportunities is incredibly important,” Kingery said.

Federal data show Indiana exported $263 million worth of products to Taiwan last year, with most of that consisting of chemicals, transportation equipment or computers, and electronic products. Agricultural products were the seventh-largest export category, with $3 million sent to the island nation. In return, the Hoosier state imported more than $1.1 billion of Taiwanese goods. About $379 million of that consisted of computers and electronic products, with fabricated metal products and miscellaneous manufactures following.

Indiana already has extensive ties to Taiwan. It became the first U.S. state to establish a sister-state relationship with Taiwan in November 1979. Former Indiana Gov. Mitch Daniels and former Indiana Gov. Eric Holcomb have led trade delegations to the country. Earlier this year, a Taiwanese delegation visited Indiana to look for ways to strengthen ties with the semiconductor industry.

Dennis Yen-Feng Lei, director general of the Taipei Economic and Cultural Office in Chicago, told News 8 the deal would help strengthen Taiwan’s food security and boost food-related industries on the island. He said about 40% of Taiwan’s total foreign investment is now invested in the United States and roughly 37% of the country’s agricultural imports are American.

Soy plays a key role in many Taiwanese dietary staples, such as tofu, salad oil and soy milk. Corn will be fed to the country’s livestock.

In addition to corn and soybeans, the deal includes about $1.3 billion worth of wheat and $2.83 billion worth of beef. The beef will come from Florida and Texas, while South Dakota, Montana, and Idaho will provide the wheat.

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