Pete Hegseth: US will go to war to stop China from taking Taiwan
[Source]
Defense Secretary Pete Hegseth said the U.S. would take military action to stop China from invading Taiwan, outlining a defense policy that shifts strategic focus from Europe to Asia to deter what he called 'an imminent threat' from Beijing.
Speaking at the Shangri-La Dialogue in Singapore on Sunday, Hegseth said the Trump administration is prioritizing the Indo-Pacific region as part of its effort to counter China's growing military influence.
Indo-Pacific defense pivot
'President Trump has said that Communist China will not invade Taiwan on his watch,' Hegseth said. 'So, our goal is to prevent war … and we will do this with a strong shield of deterrence … But if deterrence fails, and if called upon by my commander-in-chief, we are prepared to do what the Department of Defense does best – fight and win — decisively.
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Hegseth accused China of building up military capabilities at high speed and training regularly for an invasion of Taiwan. He cited intelligence that President Xi Jinping has directed the People's Liberation Army to be ready for such an operation by 2027. He warned that any attempt to forcibly take Taiwan would have severe consequences for regional and global security.
China fires back
Chinese officials at the forum reiterated Beijing's position on Taiwan, emphasizing that any attempt to separate the island from China would be met with firm opposition. Rear Adm. Hu Gangfeng, vice president of China's National Defense University, dismissed U.S. accusations, calling them 'attempts to provoke trouble, incite division and stir up confrontation to destabilize the Asia-Pacific region.'
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In a separate statement on Sunday, China's Ministry of Foreign Affairs said Hegseth's remarks had 'vilified China with defamatory allegations.' The ministry warned that the U.S. 'should not play with fire' on the Taiwan issue.
'Hegseth's remarks were filled with provocations and intended to sow division. China deplores and firmly opposes them and has protested strongly to the U.S.,' the ministry said.
Defense spending
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At the summit, Hegseth further called on Indo-Pacific allies to significantly increase their defense budgets, suggesting targets of up to 5% of GDP. He emphasized the need for regional militaries to match China's rapid modernization and deter potential aggression. He also warned against economic dependence on China, arguing it leaves countries vulnerable to coercion.
Citing NATO's defense spending benchmarks, Hegseth urged partners to follow suit in Asia. The U.S. has reportedly asked Australia to raise its defense budget to 3.5% of GDP. Prime Minister Anthony Albanese responded that Australia would determine its own course, pointing to a 10 billion Australian dollars ($6.46 billion) military investment and a target of 2.4% by 2033–34.
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May's Consumer Price Index (CPI) report showed inflation pressures eased on a monthly basis despite investor concerns that President Trump's tariffs would accelerate the pace of price increases. The Consumer Price Index (CPI) increased 0.1% on a monthly basis in May and 2.4% on an annual basis, a slight uptick from April's 2.3% gain. Yahoo Finance's Allie Canal reports: Read more here. I would keep an eye on consumer names off the news of a trade deal with China floated by President Trump this morning (see our prior post below). Seeing upticks premarket in heavily China-exposed retailers such as Nike (NKE), Walmart (WMT), Target (TGT), and Abercrombie & Fitch (ANF). The premarket gains here aren't mind-blowing in part because tariffs appear to still be in place. Trump posted on Truth Social: OUR DEAL WITH CHINA IS DONE, SUBJECT TO FINAL APPROVAL WITH PRESIDENT XI AND ME. FULL MAGNETS, AND ANY NECESSARY RARE EARTHS, WILL BE SUPPLIED, UP FRONT, BY CHINA. LIKEWISE, WE WILL PROVIDE TO CHINA WHAT WAS AGREED TO, INCLUDING CHINESE STUDENTS USING OUR COLLEGES AND UNIVERSITIES (WHICH HAS ALWAYS BEEN GOOD WITH ME!). WE ARE GETTING A TOTAL OF 55% TARIFFS, CHINA IS GETTING 10%. RELATIONSHIP IS EXCELLENT! THANK YOU FOR YOUR ATTENTION TO THIS MATTER!" A variety of market observers quickly weighed in hours after Tuesday evening's unveiling to suggest that the deal may not have a lot of meat on the bones — but at least relations are no longer moving in the wrong direction. The talks perhaps underscored how unlikely a comprehensive trade deal is anytime soon, noted AGF Investments Greg Valliere, "but at least relations may not worsen as talks continue throughout the summer." Both sides promised additional talks in the weeks or months ahead, but none have yet been scheduled. Veronique de Rugy, a professor at the Mercatus Center at George Mason University, suggested the talks continued to show China's leverage. "China is hurting, yes—but they still hold the upper hand on critical resources, and they know how to use them." Any lessening of tensions — and freer flow — of these mineral resources in China would be a significant boost to the global economy with China holding outsized leverage in both the reserves and processing capacity of these key building blocks for everything from computers to electric vehicle batteries to medical devices. Likewise, the US offering concessions on export controls would be a significant move after years where successive US administrations have wielded these controls — especially around the design and manufacture of semiconductors — by saying they need to be tight on China for national security reasons. Read more here. May's Consumer Price Index (CPI) report will be released on Wednesday and its expected to show that prices rose a bit faster than in April. Yahoo Finance's Allie Canal breaks down what to look out for and how President Trump's tariffs are impacting what consumers are now paying for goods and services. Read more here. Now that the US-China trade truce is back on track, both sides are keen to ensure it stays that way. China's Vice Premier He Lifeng said both sides need to now 'show the spirit of good faith in abiding by their commitments and jointly safeguard the hard-won results of the dialogue.' Bloomberg News reports: Read more here. Reuters reports: Read more here. Despite the US-China trade truce resuming the pain from President Trump's tariffs remains in China, especially among small exporters. Reuters reports: Read more here. Japan warned Wednesday that tariffs threaten its economic growth, the government said in a monthly report. Reuters reports: Read more here. Reuters reports: Read more here. Reuters reports: Read more here. A federal appeals could said on Tuesday that President Trump's sweeping tariffs can continue for now. This is a significant win for Trump, who introduced tariffs back in March and declared "Liberation Day," as he saw them as a way to free the US from what he called unfair trade practices. Bloomberg News reports: Read more here. Early summer sales for Inditex, the owner of fashion retailer Zara, came in weaker, as the company missed expectations for first quarter sales on Wednesday. President Trump's tariffs have impacted consumer demand in the US and other major markets. Reuters reports: Read more here. After weeks of back and forth, the US and China have agreed on a framework to implement the Geneva consensus that helped ease tariffs. The breakthrough came after two days of talks in London, including a marathon session on Tuesday. US Commerce Secretary Howard Lutnick said both sides had to "get the negativity out" before making progress. 'Now we can go forward to try to do positive trade, growing trade,' he said. As part of the deal, Beijing has promised to speed up shipments of rare earth metals, a crucial component for global auto and defense industries. Washington will ease export controls. This marks the first sign of movement on key issues. The proposal will now be presented to President Trump and China's Xi. Still, the discussions also did little to resolve a long-standing issue: China's trade surplus with the US. 'Markets will likely welcome the shift from confrontation to coordination,' said Charu Chanana, chief investment strategist at Saxo Markets. 'We're not out of the woods yet — it's up to Trump and Xi to approve and enforce the deal.' The meeting was set up after a phone call between the two leaders, following weeks of each side accusing the other of breaking the Geneva commitments. Both countries had used chips, rare earths, student visas and ethane as bargaining tools. 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