Taiwan’s restrictions on imports of pork and beef from the US remain a major barrier to trade between the two countries, according to a US report that highlights significant foreign barriers to American exports.
Taiwan has not followed international standards or a bilateral protocol with Washington on the issue of US meat imports, said the US Trade Representative report, which was released on Friday.
While Taiwan and the US agreed on a protocol in 2009 to expand market access and to fully reopen the Taiwan market to all US beef and beef products, Taiwan flip-flopped on the agreement and amended the Act Governing Food Sanitation (食品衛生管理法) the following year to ban imports of US ground beef and other beef products, the report said.
“This amendment is contrary to Taiwan’s obligations under the 2009 beef protocol,” the report said.
It called on Taiwan to open its market fully to US beef and beef products on the basis of science, the guidelines of the World Organisation for Animal Health, the US’ negligible risk status and the beef protocol.
The report also criticized Taiwan’s zero-tolerance policy on imports of US pork containing ractopamine, a feed additive that promotes leanness in animals.
Taiwan should implement the proposed maximum residue limit (MRL) for ractopamine without delay, and move to accept and approve new applications for MRLs based on science, in a timely manner, the report said.
It also listed other issues that the US sees as obstacles to broadening trade with Taiwan, including a ban on the use of biotechnology food ingredients and processed food containing biotechnology ingredients in school meals.
Nonetheless, the report said that the US has made trade progress with Taiwan in other areas, such as the protection of intellectual property rights and the establishment of a tolerance level for glycoalkaloids — toxic chemical compounds commonly found in potatoes.
The Ministry of Economic Affairs said on Saturday that it would work with the authorities to address trade issues that are of concern to both sides.
According to the report, US exports to Taiwan grew by an annual 17.5 percent last year to US$30.2 billion, while its imports from Taiwan increased 7.8 percent to US$45.8 billion.
Taiwan was the US’ 15th-largest export market last year, it said.
Taiwan’s foreign exchange reserves hit a record high at the end of last month, surpassing the US$600 billion mark for the first time, the central bank said yesterday. Last month, the country’s foreign exchange reserves rose US$5.51 billion from a month earlier to reach US$602.94 billion due to an increase in returns from the central bank’s portfolio management, the movement of other foreign currencies in the portfolio against the US dollar and the bank’s efforts to smooth the volatility of the New Taiwan dollar. Department of Foreign Exchange Director-General Eugene Tsai (蔡炯民)said a rate cut cycle launched by the US Federal Reserve
Handset camera lens maker Largan Precision Co (大立光) on Sunday reported a 6.71 percent year-on-year decline in revenue for the third quarter, despite revenue last month hitting the highest level in 11 months. Third-quarter revenue was NT$17.68 billion (US$581.2 million), compared with NT$18.95 billion a year earlier, the company said in a statement. The figure was in line with Yuanta Securities Investment Consulting Co’s (元大投顧) forecast of NT$17.9 billion, but missed the market consensus estimate of NT$18.97 billion. The third-quarter revenue was a 51.44 percent increase from NT$11.67 billion in the second quarter, as the quarter is usually the peak
The US government on Wednesday sanctioned more than two dozen companies in China, Turkey and the United Arab Emirates, including offshoots of a US chip firm, accusing the businesses of providing illicit support to Iran’s military or proxies. The US Department of Commerce included two subsidiaries of US-based chip distributor Arrow Electronics Inc (艾睿電子) on its so-called entity list published on the federal register for facilitating purchases by Iran’s proxies of US tech. Arrow spokesman John Hourigan said that the subsidiaries have been operating in full compliance with US export control regulations and his company is discussing with the US Bureau of
Pegatron Corp (和碩), a key assembler of Apple Inc’s iPhones, on Thursday reported a 12.3 percent year-on-year decline in revenue for last quarter to NT$257.86 billion (US$8.44 billion), but it expects revenue to improve in the second half on traditional holiday demand. The fourth quarter is usually the peak season for its communications products, a company official said on condition of anonymity. As Apple released its new iPhone 17 series early last month, sales in the communications segment rose sequentially last month, the official said. Shipments to Apple have been stable and in line with earlier expectations, they said. Pegatron shipped 2.4 million notebook