A NT$30 billion (US$938.32 million) agricultural security fund would be set up to ensure agricultural workers’ rights and benefits, the Ministry of Agriculture said yesterday in response to concerns over the Taiwan-US Agreement on Reciprocal Trade (ART).
The Office of the US Trade Representative on Tuesday released this year’s National Trade Estimate report, highlighting several trade obstacles between Taiwan and the US, as well as the nation’s commitments under the agreement.
Taiwan has committed to eliminate or reduce tariffs on 99 percent of all tariff lines under the ART, which was signed on Feb. 13, the report said.
Photo courtesy of the Ministry of Agriculture
The nation has also pledged to no longer impose special safeguard (SSG) tariffs on US agricultural products, in accordance with WTO rules, the report added.
Some people have raised concerns that the pledges could have a significant impact on Taiwanese industries.
In response to media queries yesterday, Minister of Agriculture Chen Junne-jih (陳駿季) said the government has been invariably cautious about the liberalization of imported agricultural goods during trade negotiations with Washington.
Taiwan would continue to levy SSG tariffs on agricultural imports from other countries, even though it would not put such duties on agricultural goods originating from the US, he said.
For the US to import large quantities of agricultural products, it must first compete with other importing countries, Chen said.
Only after this competition would additional quotas be available, and even beyond those quotas, high tariffs would still apply, Chen said, adding that this creates an opportunity to activate SSG levies.
Data showed that US imports have been very small, with products such as garlic and red beans almost never imported, he said, adding that although chicken does not have a tariff-rate quota, a one-third tariff is imposed.
Overall, this is considered acceptable and would not have a significant impact, Chen said.
Taiwan’s agriculture industry is resilient, he said, adding that the ministry would help farmers and businesses based on its understanding of different agricultural products.
President William Lai (賴清德) has announced the allocation of NT$30 billion as an agricultural security fund, which would provide assistance to the industry and drive the upgrading of agriculture, Chen said.
The ministry would guide farmers and export businesses in seizing the new opportunities arising from the ART, expand exports and adjust the industry structure, he added.
The ministry would also bolster market segmentation, enhance domestic recognition and purchasing willingness for local products, while continuing to monitor changes in imports and domestic production and sales conditions, he said, adding that timely supportive measures would be taken to ensure the rights and interests of farmers, as well as the stable development of the industry.
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