
Taiwan says it's ‘impossible' for US to retreat from Asia Pacific
'We indeed noticed the fast-changing and tricky international situation and deeply understand that we can't just talk about values but not national interests,' Taiwanese Defense Minister Wellington Koo told reporters on Monday.
'So we must ask: Keeping the peace and stability in the Indo-Pacific region, including the status quo in the Taiwan Strait and the South China Sea, is that a core US national interest?' Koo said.
'I think it is impossible for the United States to retreat from the Indo-Pacific because it is its core national interest.'
Koo also said Taiwan would continue to rely on 'deterrence and strength to achieve peace' with China.
Koo's remarks came after Trump ordered a pause on all military aid to Ukraine in a dramatic escalation of his spat with Ukrainian President Volodymyr Zelenskyy.
Until now, Washington has been Ukraine's top military backer in its war with Russia.
While the US does not formally recognise Taiwan as a country, it is obligated to provide Taipei with the means to defend itself under the 1979 Taiwan Relations Act.
Trump's willingness to overturn longstanding US relationships has raised fears that he could do the same in East Asia.
Taiwan is a critical part of the US's 'First Island Chain' defence strategy, an imaginary line running from Malaysia to Japan that is envisaged to contain China from expanding into the Pacific.
The self-ruled island also lies next to one of the most important waterways for international trade.
In 2022, 88 percent of the world's largest ships by tonnage passed through the Taiwan Strait, according to Risk Intelligence, a Denmark-based corporate intelligence firm.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Qatar Tribune
16 hours ago
- Qatar Tribune
US stocks steady as investors await Fed signals, retail results
Agencies Wall Street's main indexes were subdued on Monday, in a quiet start to a week packed with corporate earnings reports from major retailers and the Federal Reserve's annual symposium in Jackson Hole. Investors also remained wary ahead of a meeting between U.S. President Donald Trump and Ukraine's Volodymyr Zelenskiy on Kyiv's conflict with Moscow, which comes days after Trump's summit with Russia's Vladimir Putin that yielded no concrete outcome. Wall Street's main indexes rallied over the past two weeks, with the blue-chip Dow , opens new tab hitting an intra-day record high on Friday, aided by interest rate cut expectations and a better-than-expected earnings season despite an uncertain trade environment. Investors will closely monitor reports from Walmart , opens new tab, Home Depot , opens new tab and Target , opens new tab among others, which are expected this week, to determine how trade uncertainty and inflation expectations have affected U.S. consumers. Data on Friday showed that while retail sales were increasing broadly as anticipated, consumer sentiment overall had taken a hit from mounting inflation fears. 'In aggregate, you're going to see that the consumer is still spending despite saying that they're depressed,' said Thomas Hayes, chairman at Great Hill Capital. 'Retail sales have continued to hold strong and we're going to see it reflected in the (retailers') earnings.' At 11:43 a.m. ET, the Dow Jones Industrial Average , opens new tab rose 2.47 points, or 0.01%, to 44,948.59, the S&P 500 , opens new tab lost 5.64 points, or 0.09%, to 6,444.16 and the Nasdaq Composite , opens new tab lost 40.51 points, or 0.18%, to 21,582.97. Six of the 11 S&P 500 sectors edged lower, with communication services , opens new tab in the lead with a 0.9% fall, weighed by Facebook parent Meta's , opens new tab 2.7% slide. Investors continue to price in a 25-basis-point cut from the Federal Reserve next month, although they have lowered their expectations for another rate cut this year, according to data compiled by data have also suggested that while U.S. tariffs have not filtered into headline consumer prices yet, weakness in the jobs market could nudge the central bank to take a more dovish stance. Markets hope that the Fed's Jackson Hole, Wyoming conference between August 21 and 23, where Chair Jerome Powell is expected to speak, could offer more clarity on the economic outlook and the central bank's policy framework. On the trade front, the Trump administration widened the reach of its 50% tariffs on steel and aluminum imports by adding hundreds of derivative products to the list of goods subject to the levies. Dayforce , opens new tab jumped 26.9% after a report said PE firm Thoma Bravo is in talks to acquire the HR management software firm. Solar stocks such as SunRun , opens new tab rose 6.7% and First Solar , opens new tab gained 9.2% after the U.S. Treasury Department unveiled new federal tax subsidy rules for solar and wind projects. Advancing issues outnumbered decliners by a 1.09-to-1 ratio on the NYSE and by a 1.19-to-1 ratio on the Nasdaq. The S&P 500 posted eight new 52-week highs and two new lows, while the Nasdaq Composite recorded 65 new highs and 56 new lows.


Qatar Tribune
16 hours ago
- Qatar Tribune
Fewer trees, higher prices: China tariff delay too late to save US holidays
Agencies U.S. shoppers in search of artificial Christmas trees and holiday decorations this year will face higher prices and fewer options, as tariffs on Chinese imports prompt retailers to cut back orders while gauging how much households are willing to spend. A 90-day extension to a tariff reprieve – agreed to by Washington and Beijing on Aug. 11 – will allow retailers to rush in some last-minute shipments, but most holiday purchases are already done. Retailers typically import seasonal goods in advance because many products need six-month lead times. 'We're going to have a lower supply year,' said Chris Butler, CEO of National Tree Company, a New Jersey-based artificial tree importer supplying Walmart, Home Depot, Lowe's and Amazon. The company, which sources roughly half its trees from China and the rest from Vietnam, Cambodia, and Thailand, will hike prices by 10% to 20% on its Carolina pine, Nordic spruce, and Dunhill fir trees, Butler said. China is the biggest exporter of Christmas decorations to the U.S., accounting for 87% of such imports last year, worth roughly $4 billion, according to the United States International Trade Commission data. 'We're not overbuying (from our suppliers) because we're not sure about consumer demand and don't want expensive inventory on our books,' Butler retailers are more keen than usual to have National Tree ship directly to consumers rather than buying them as inventory, reducing the stores' risk on their balance sheets. Butler's rival, Mac Harman, CEO of California-based Balsam Hill, expects about 15% fewer trees in the market this season.'Even with the extended 90 days, it's too late for any of us to add orders,' he said. Retailers started cutting orders after U.S. President Donald Trump flip-flopped on China tariffs – raising them to 145% in April, then cutting them to 30% a month later – because they are unwilling to buy trees at elevated prices, said Harman. He sources trees from around 80 suppliers, half of which are in China. Still, the latest pause has netted Balsam Hill some $2.5 million in savings, he said. A Walmart spokesperson said the company was confident in its inventory position heading into the holiday. The reduced demand for fake trees, a key Christmas purchase, signals a muted shopping season. Higher prices on essentials like diapers and dish soap have already strained budgets. Denim maker Levi Strauss said last month it will offer a leaner holiday selection. Isaac Larian, CEO of MGA Entertainment that makes Bratz dolls, said a 30% tariff on toys 'is still too much.' The company has raised prices, he said. Only goods shipped by air would benefit from the delay in higher tariffs, said Chris Rogers, head of supply chain research, S&P Global Market Intelligence. Companies including Apple that have upcoming product launches will gain from the certainty that there will be a 30% tariff, he said. Some suppliers, shippers, and retailers, however, started rushing extra orders after the moratorium was announced, industry sources most footwear makers simplified holiday orders due to tariff uncertainty, a few are placing new orders to add variety to their inventory, said Matt Priest, CEO of industry group Footwear Distributors and Retailers of America (FDRA).It may not be simple to ramp up orders, though. Imports face manufacturing bottlenecks as brands that diversified to other countries after initial tariffs now face delays before new manufacturers can scale up, said Dave Tu, president of DCL Logistics, which imports for clients like GoPro. By and large, this tariff extension changes little for holiday imports. For most companies, said FDRA's Priest, holiday inventory 'is what it is.'


Qatar Tribune
16 hours ago
- Qatar Tribune
EU leaders set for video call following Washington meeting with Trump
EU leaders are set to hold a video conference call on Tuesday following a high-stakes meeting on the Ukraine war at the White House, European Council President António Costa said on Monday. All 27 national leaders are due to participate in the call, set for 1pm (1100 GMT). European Commission President Ursula von der Leyen is also expected to take part. The meeting is set to take place after several European leaders were due to attend the summit in the White House along with Ukrainian President Volodymyr Zelensky on Monday. The high-level meeting comes just days after Trump warmly welcomed Russian President Vladimir Putin for talks in Alaska, in what was their first meeting since Putin ordered the all-out invasion of Ukraine in February 2022. Italian leader Meloni, speaking ahead of the talks at the White House, voiced cautious optimism on Monday regarding the prospect for a peace deal. 'After three-and-a-half years during which Russia showed no sign of dialogue whatsoever and demanded for Kiev to capitulate, there's finally hope for dialogue,' she said in Washington. 'I think we need to examine all possible solutions, to guarantee peace and security for our nations,' Meloni added. (DPA)