The U.S. and Taiwan announced the conclusion of a Reciprocal Trade Agreement aimed at deepening economic ties and expanding bilateral trade. The document provides for significant tariff cuts, the removal of non-tariff barriers, as well as the development of investments and procurement in key sectors.
The Taiwanese side agreed to eliminate or reduce 99% of tariff barriers. Preferential access is specifically предусмотрed for U.S. agricultural products, including fruits and vegetables, wheat, beef and beef products, dairy products, pork and pork products, lamb and sheep meat, tree nuts, pet food, ketchup, and peanuts.
In addition, Taiwan committed to resolving and preventing non-tariff barriers affecting U.S. agricultural exports, including beef, pork, poultry, and processed potatoes. The two sides will also work to complete the regulatory procedures to allow bison meat into the Taiwanese market.
Industry players expect the agreement could shift the balance in Taiwan’s pork import market, which is currently dominated by EU and Canadian suppliers. Representatives of the U.S. meat sector note that reducing both tariff and non-tariff restrictions creates opportunities to expand U.S. exports and to rebuild Taiwanese consumer confidence in U.S. pork.
Analysts believe the deal could intensify competition in Taiwan’s market and serve as an additional driver for growth in bilateral meat trade.
PigUA.info, based on pig333.com