Acting Agriculture Minister Chen Junne-jih (陳駿季) said in a broadcast on Friday that Taiwan’s agricultural sector is ready for any outcome in China’s current trade barrier investigation. He stated that, with the assistance of the Economic and Trade Negotiations Office of the Cabinet, several response strategies for multiple scenarios have already been developed.
China’s Ministry of Commerce announced on October 9th, the day before Taiwan’s National Day, that its investigation into Taiwan’s supposed “trade barriers” to certain Chinese products has been extended another three months to January 12, 2024, the day before Taiwan’s 2024 presidential election. China has in the past implied that the bilateral trade deal known as the Economic Cooperation Framework Agreement (ECFA) could be suspended in response to Taiwan’s trade actions.
Chen says that because China has been the primary export destination for Taiwan’s agricultural products, the numerous actions and trade barriers carried out by the Chinese government have created uncertainty for the local industry. He says that although the Agriculture Ministry will not abandon any export market, the risks of selling to China are unpredictable and it will continue exploring other markets.