Taiwan last week stepped up its purchases of U.S. soybeans, which have been hit by Chinese retaliatory tariffs, as a major business group pressed for a bilateral trade agreement between the U.S. and Taipei, contending that it was an opportune time. At a signing ceremony on Wednesday attended by U.S. lawmakers, the "2018 Taiwan Agricultural Trade Goodwill Mission" signed a letter of intent with the U.S. Soybean Export Council to purchase roughly $1.6 billion worth of soybeans in 2018 and 2019. That represents a 30 percent increase in purchase commitment from last year, according to a delegation press release.
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