From left, Director Don Lamb, ICMC President Tim Gauck, ISA Chair Denise Scarborough, Lt. Gov. Micah Beckwith, Gov. Mike Braun, Deputy Minister of Agriculture Wen-Jane Tu, Chairman Yau-Kuen Hung, Taiwan Vegetable Oil Manufacturers Association, Executive Director Chieh Yang, Tiawan Feed Industry Association, Director General Dennis Yen-Feng Lei, Taipei Economic and Cultural Office in Chicago.

News Release

INDIANAPOLIS — Indiana farm leaders are looking to Taiwan as a new source of stability amid ongoing U.S.-China trade tensions.

State officials and agricultural groups finalized letters of intent Thursday, Sept. 25 with Taiwanese representatives committing the island nation to purchase nearly $6 billion in U.S. corn and soybeans over the next four years. The agreement, signed during a ceremony attended by Gov. Mike Braun and Lt. Gov. Micah Beckwith, outlines Taiwan’s plan to buy 8.5 metric tons of corn products valued at $2.12 billion and between 6.5 and 8 metric tons of soybeans worth about $3.75 billion by 2029.

The documents were signed by the Indiana Corn Marketing Council and the Taiwan Feed Industry Association, as well as the Indiana Soybean Alliance and the Taiwan Vegetable Oil Manufacturers Association. Taiwan Deputy Minister of Agriculture Wen-Jane Tu also participated in the signing.

While the letters do not specify how much of the total purchase will come from Indiana, farm leaders said the commitment represents a vital boost for Hoosier growers who have struggled since China curbed U.S. crop imports during the trade war. Data from the International Trade Administration show Indiana has averaged more than $3 million in annual exports to Taiwan since 2018.

The deal underscores growing economic ties between the U.S. and Taiwan, which depends heavily on food imports. Indiana, which established the first U.S. sister-state relationship with Taiwan in 1979, renewed that partnership earlier this year.