Chinese military says it's launched joint army, naval and rocket force drills around Taiwan in ‘stern warning'
The Chinese military on Tuesday said it had begun conducting joint exercises involving its army, navy, air force, and rocket force to 'close in on' Taiwan from 'multiple directions,' according to a statement posted on the Eastern Theater Command's official social media account.
The drills mainly focus on sea-air combat-readiness patrols, joint seizure of comprehensive superiority, assault on maritime and ground targets, and blockade on key areas and sea lanes so as to test joint operations capabilities of its troops, the post said.
'It is a stern warning and forceful deterrence against 'Taiwan Independence' separatist forces, and it is a legitimate and necessary action to safeguard China's sovereignty and national unity,' the People's Liberation Army said in the statement.
China claims the self-governing democracy of Taiwan as its own and has vowed to take control of the island, by force if necessary.
Its military in recent years has ramped up regular patrols as well as military exercises in the air and waters around the island.
This is a developing story and will be updated.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Miami Herald
34 minutes ago
- Miami Herald
Temu suffers major loss as consumers change their tune
Chinese online marketplace Temu, which became famous for selling a wide range of products priced between $1 and $50, appears to be suffering the consequences of harsh decisions it made a few months ago in response to a growing threat. In April, President Donald Trump made several crucial changes to his tariff policy (tariffs are taxes companies pay to import goods from overseas). He imposed a whopping 145% tariff on all goods imported from China. Don't miss the move: Subscribe to TheStreet's free daily newsletter Trump also signed an executive order on April 2 to end a trade rule called "de minimis," which took effect in May. This rule allowed goods from China that are less than $800 to enter the U.S. country duty-free with minimal inspections. Related: Temu quietly makes drastic decision as consumers switch gears He also issued an executive order on April 9 imposing a 120% tax on small parcels under $800 from China, Hong Kong, and Macau. In response to these changes, Temu posted a notice on its website warning customers that it will have to increase its prices. "Due to recent changes in global trade rules and tariffs, our operating expenses have gone up," said Temu on its website. "To keep offering the products you love without compromising on quality, we will be making (a) price adjustment starting April 25, 2025." Temu also quietly pulled back its advertisements on Google, Instagram, and Facebook, and saw its ranking on the App Store in the U.S. fall from the top 10. However, in May, Trump announced that the U.S. had lowered its 145% tariffs on China to 30%. The 120% tax on small parcels also dropped to 30%, which provided some relief to Temu. Image source: Chayanuphol for Shutterstock Despite these changes, Temu has seen the number of its daily app users in the U.S. drop by 58% in May, according to recent data from Sensor Tower. A recent report from Reuters also revealed that Temu's average customer growth in January was 37.5% year-over-year, and in May, that average dropped to 8.8%. The retailer's average sales growth was also 14.4% in January, but in May, sales stopped growing and declined by 15.7%. The drop in sales comes after Temu decided last month to stop shipping products from China and sell directly to customers in the U.S. in a desperate attempt to keep prices low on its website. Related: Kohl's makes major store changes to win back customers "All sales in the U.S. are now handled by locally based sellers, with orders fulfilled from within the country," said Temu in a statement. "The move is designed to help local merchants reach more customers and grow their businesses." It also added a notice on its website informing customers that there will be no extra charges for items shipped from local warehouses. "No import charges for all local warehouse items and no extra charges upon delivery," said Temu on its website. "Items marked with the 'Local Warehouse' tag are shipped from within your country or region. This means you do not need to pay any import taxes or customs fees." It is no surprise that fewer consumers are making purchases on Temu's website, as many are concerned about encountering higher prices due to Trump's tariffs. According to a survey from Omnisend in February, 56% of Americans are worried that tariffs will increase prices. Also, 29% of Americans said that if prices rise, they would immediately stop or make fewer purchases from sellers in China. More Retail: Costco quietly plans to offer a convenient service for customersT-Mobile pulls the plug on generous offer, angering customersKellogg sounds alarm on unexpected shift in customer behavior Amid this change in consumer behavior, Temu's parent company, PDD Holdings, revealed in its first-quarter earnings report for 2025 that its operating profit (a company's profit after expenses) declined by 38% year-over-year during the quarter. During an earnings call on May 28, PDD Holdings Co-CEO Lei Chen said the decrease in operating profit was partially due to the company's merchants being "under considerable pressure" due to tariffs. "Radical change in external policy environment such as tariffs has created significant pressure for our merchants, who often lack the capability to adapt quickly and effectively," said Chen. Related: Ross Stores makes drastic decision customers will see in stores The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
40 minutes ago
- Yahoo
Trump administration threatens Columbia University's accreditation
The Trump administration is looking to strip Columbia University of its accreditation over claims it violated the civil rights of its Jewish students. US President Donald Trump has condemned Columbia and other US universities, arguing the schools have failed to protect Jewish students amid the war in Gaza and anti-war protests that roiled US campuses. Education Secretary Linda McMahon said in a letter that Columbia "acted with deliberate indifference towards the harassment of Jewish students" in a manner that violated federal anti-discrimination laws. US accreditors play a key role in determining which universities are allowed to access billions of dollars in federal funding. "Accreditors have an enormous public responsibility as gatekeepers of federal student aid," McMahon wrote in a letter on Wednesday, calling Columbia's actions "immoral" and "unlawful". The letter informs the Middle States Commission on Higher Education, which oversees Columbia, that Columbia "no longer appears to meet the Commissions accreditation standards" by its alleged violation of anti-discrimination laws. It argues that the leadership of Columbia "failed to meaningfully protect Jewish students against severe and pervasive harassment on Columbia's campus and consequently denied these students' equal access to educational opportunities to which they are entitled under the law". The Middle States organisation is one of several independent accreditors that the government uses to determine how to allocate education department funds. Columbia University has yet to comment on the latest development. The move comes as Trump continues his crackdown on institutions of higher learning. He also recently signed an order that changes the university accreditation process. In February, the Trump administration stripped Columbia of $400m in federal funding due to his administration's allegations of antisemitism at the school. Columbia followed up by enacting campus rule changes demanded by the White House, including the re-organising of its Middle Eastern studies department. The move was meant to appease the White House, but the deal appears to have had little impact. The White House also accused other universities of antisemitism, most notably Harvard University, which is locked in multiple legal battles with the Trump administration over its government funding and the administration attempting to block its ability to accept international students. The letter from McMahon suggests that other universities' accreditation may also be targeted. "The Department has an obligation to promptly provide accreditors with any noncompliance findings related to member institutions," McMahon writes. The fallout from Trump's war on Harvard will long outlast his presidency 'All Jewish Americans are questioning their security' after violent antisemitic attacks Harvard Chinese grad speech draws praise and ire Harvard foreign students face uncertainty as Trump plan to block enrolment is halted - for now Judge blocks Trump's effort to restrict foreign students at Harvard - for now
Yahoo
40 minutes ago
- Yahoo
How the Steel and Aluminum Tariff Hike Will Hit Consumers
A US Steel logo is seen on a vehicle loaded with rolls of steel during a visit by the U.S. President to U.S. Steel - Irvin Works in West Mifflin, Pennsylvania, May 30, 2025 Credit - Saul Loeb—AFP via Getty Images Canned foods, cars, houses, and a range of other goods could soon get more expensive as businesses face a newly doubled tariff rate of 50% for steel and aluminum imports. President Donald Trump described the increase, which raised the levies from the 25% rate announced in February beginning on Wednesday, as an effort to 'further secure the steel industry in the United States' during a Friday rally at a steel mill in Pittsburgh, Penn.—once the heart of the domestic steel industry. But while American steel industry groups have hailed the tariff hike, economic experts have sounded alarms, saying it could further disrupt the already-volatile global supply chain and put more strain on businesses—and Americans' wallets. 'Consumers will have to pay the price,' says Virginia Tech economics professor David Beiri. 'The continued uncertainty that is created by the government is poisoning business plans.' The United States is highly reliant on steel imports, bringing in more of the material from abroad than any other country in the world, according to the International Trade Administration. More than 26 million metric tons of steel were imported last year, most of which came from Brazil, Canada, Mexico, South Korea, and China. 'We are equally dependent on aluminum,' says Jonathan Colehower, managing director at consulting company UST. The domestic steel industry has voiced support for the increased tariffs, saying they will help it weather increased competition from foreign steel manufacturers. 'Chinese steel exports to the world have more than doubled since 2020, surging to 118 million MT in 2024—more than total North American steel production,' the American Iron and Steel Institute, one of several trade associations representing the American steel industry, said in a statement after Trump announced the higher rate. 'This tariff action will help prevent new surges in imports that would injure American steel producers and their workers.' But experts worry about the industry's ability to meet increased demand as businesses, facing the additional import costs, seek cheaper alternatives for their products. While the U.S. once dominated the steel industry, the boom has died down in the last century. 'With domestic capacity not necessarily being able to produce what we might need…there is going to be a transitory effect,' says Beiri, referring to the adjustment period the steel industry will have to navigate as the supply chain changes. Colehower says the domestic steel supply may tighten as a result of the increased tariffs, which could cause domestic prices to rise amid high demand. 'There's absolutely no way it's going to be able to make up the difference immediately,' he says of the domestic steel industry. The Aluminum Association, a trade group that represents both U.S.-based and foreign companies, said it supports tariff-free Canadian aluminum, pointing to the American aluminum industry's reliance on the country's northern neighbor. 'Aluminum is a critical material for our economy and national defense – used in everything from cars to beverage cans to fighter jets. Today, the United States is investing significantly and will need both smelted and recycled aluminum to meet growing demand,' the association said. 'In the years if not decades it will take to build new U.S. smelter capacity, our metal needs must be met by importing.' Steel and aluminum are used in various products, from beer cans and office supplies to automobiles—the prices for all of which are likely to rise as a result of the doubled import taxes. The Can Manufacturers Institute, the trade association of the metal can manufacturing industry, opposed the tariff increase in a statement after Trump announced the coming change in the rate, saying it would 'further increase the cost of canned goods at the grocery store.' The can manufacturing industry imports nearly 80% of its tin-mill steel from foreign countries. 'Doubling steel tariffs will inflate domestic canned food prices, and it plays into the hands of China and other foreign canned food producers, which are more than happy to undercut American farmers and food producers,' the trade association said. Beer companies and other beverage businesses are also set to be impacted. The real estate and construction industries, both of which use steel to build homes, warehouses, and other structures will be footing a bigger bill, as well, Colehower says. He predicts businesses such as Lowe's and Home Depot, the latter of which vowed before the tariff hike that it would not be increasing the cost of its goods, will be severely affected. Farm equipment and transportation vehicles, including cars, bicycles, and others, will also likely cost more as a result of the new tariff rate, Colehower says. Some companies could seek to adjust their business models in the face of increased costs. Coca-Cola CEO James Quincey, for instance, said in February that the company would consider making more beverages in plastic bottles to offset aluminum price hikes under the tariffs announced that month. Negotiations over the tariffs are ongoing between the U.S. and its trading partners, several of which have expressed ire at the increased import taxes. Bea Bruske, president of the Canadian Labour Congress, called the steel tariffs a 'direct attack on Canadian workers.' A European Commission official on Friday said the decision 'adds further uncertainty to the global economy and increases costs for consumers and businesses on both sides of the Atlantic.' The U.K. has been spared from the tariff hike; Mexico announced Wednesday that it plans to ask for a similar exemption. Canada, Mexico, and the European Union were previously exempt from steel and aluminum tariffs Trump imposed during his first term in 2016, but are subject to the current levies. Contact us at letters@
