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June 21 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The one-year loan prime rate (LPR) was cut to 3.55% and the five-year LPR was cut to 4.20%. The yuan has been trading through 7.00 per dollar every day since May 18, and is now approaching 7.20/dollar. On the Chinese corporate front, investors are digesting the news of changes at the top of e-commerce giant Alibaba Group (9988.HK). The main global event for markets on Wednesday is likely to be Fed Chair Powell's semi-annual testimony to the House Financial Affairs Committee.

Persons: Jamie McGeever, Jerome Powell, Kazuo Ueda, weren't, Daniel Zhang, Eddie Yongming Wu, Joseph Tsai, Deepa Babington Organizations: Federal, Bank of, The Bank of Japan, People's Bank of China, Investors, Alibaba, HK, House Financial, Committee, Thomson, Reuters Locations: Asia, Japan

☆ Alibaba Says Its Chairman, Daniel Zhang, Will Step Down in September
▼ + stars: | 2023-06-20 | by ( Chang Che | ) www.nytimes.com time to read: +1 min

In a major overhaul at the top of the company, Alibaba Group, China’s leading e-commerce giant, announced on Tuesday that Daniel Zhang would relinquish his role as chairman and chief executive of the company. Mr. Zhang said he would continue to serve as chief executive of Alibaba’s cloud computing division. Joseph Tsai, an Alibaba veteran who is the company’s executive vice chairman, will succeed Mr. Zhang as chairman and as a member of Alibaba’s board of directors. The leader of Alibaba’s e-commerce division, Eddie Yongming Wu, will succeed Mr. Zhang as chief executive, the company added. He will continue to lead both of those platforms as Alibaba’s chief executive.

Persons: Daniel Zhang, Zhang, Joseph Tsai, Alibaba’s, Eddie Yongming Wu, Wu, Alibaba Organizations: Alibaba, Tmall, Alibaba’s

☆ Alibaba CEO Daniel Zhang to step down. Here's what it means for the Chinese tech giant
▼ + stars: | 2023-06-20 | by ( Arjun Kharpal | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAlibaba CEO Daniel Zhang to step down. Here's what it means for the Chinese tech giantAlibaba CEO Daniel Zhang plans to step down from his role in September. Eddie Wu will take over as CEO, and Joe Tsai will become chairman. Both Wu and Tsai are Alibaba veterans and close confidants of founder Jack Ma. CNBC's Arjun Kharpal breaks down the moves.

Persons: Daniel Zhang, Eddie Wu, Joe Tsai, Wu, Tsai, Jack Ma, CNBC's Arjun Kharpal

☆ Alibaba appoints Joseph Tsai, Eddie Wu to succeed Daniel Zhang as chairman and CEO
▼ + stars: | 2023-06-20 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —Joseph Tsai, executive vice chairman and cofounder of Alibaba Group, will succeed Daniel Zhang as chairman, according to an announcement by the Chinese tech giant on Tuesday. Eddie Wu, chairman of Alibaba’s e-commerce platform Taobao and Tmall Group, will succeed Zhang as chief executive officer and replace him on the company’s board of directors. Following the transition, Zhang will continue to serve as the chairman and CEO of Alibaba’s cloud unit. “I am grateful for the trust of the Alibaba Group board of directors and am honored to succeed Daniel as Alibaba’s CEO,” he said. Zhang was appointed by Alibaba as CEO in May 2015, eight years after he joined the company.

Persons: Hong Kong CNN — Joseph Tsai, Daniel Zhang, Jack Ma, Eddie Wu, Zhang, ” Zhang, Wu, “, Daniel, ”, Alibaba, Ma, Masa Son Organizations: Hong Kong CNN, Alibaba, Alibaba’s, Tmall, Alibaba Cloud Intelligence Group, Ant Group, Alibaba Group, University of Hong Kong, University of Tokyo Locations: Hong Kong, Beijing, Japan, China

☆ Meet the new CEO of Alibaba
▼ + stars: | 2023-06-20 | by ( Lina Batarags | ) www.businessinsider.com time to read: +2 min

Cofounder Eddie Wu will replace Daniel Zhang as CEO, the company announced Tuesday. The move comes three months after Alibaba announced it would split into six groups. Eddie Wu, currently the chairman of Taobao and Tmall Group, will take over as CEO from Daniel Zhang, Alibaba Group announced Tuesday. After Zhang steps down from his role, he will lead Alibaba's Cloud Intelligence Group as chairman and CEO, the company announced. History at Alibaba: He's one of the cofounders of Alibaba, and he currently serves as a senior vice president overseeing three business units, per Crunchbase.

Persons: Eddie Wu, Daniel Zhang, Alibaba, Zhang, Joseph C . Tsai, who's, Wu Organizations: Morning, Tmall, Alibaba, Cloud Intelligence Group, Zhejiang University of Technology Locations: China

☆ Who is Alibaba's new CEO Eddie Wu and chairman Joe Tsai?
▼ + stars: | 2023-06-20 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +3 min

Eddie Yongming Wu will step in as CEO, while Joe Tsai will take over as chairman on Sept. 10. Eddie Wu, incoming CEOEddie Wu is one of the co-founders of Alibaba, who first served it as a technology director back in 1999. Joe Tsai, incoming chairmanAnother co-founder of Alibaba, Joe Tsai was appointed as the company chief financial officer until 2013 and currently serves as executive vice chairman. He is also the chairman of Alibaba's logistics unit Cainiao, as well as a member of the Taobao and Tmall division. Joe Tsai will take up the role of chairman at Alibaba after current chairman and CEO Daniel Zhang steps down.

Persons: BABA BABA, Daniel Zhang, Eddie Yongming Wu, Joe Tsai, Jack Ma, Eddie Wu, Alibaba, Wu, Eddie Wu's, shouldn't, Jacob Cooke, Cooke, Jp Yim, Tsai, Lazada, Michael Evans Organizations: Alibaba, Ant Group, CNBC, Getty, Brooklyn Nets Locations: China, U.S, Lazada, Europe, Singapore, Asia

☆ 'When we meet again, may we all be carefree': Read the outgoing Alibaba CEO's memo to staff
▼ + stars: | 2023-06-20 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +5 min

Read the full memo Zhang sent to Alibaba employees:My fellow Aliren,Since becoming CEO of Alibaba Group in May 2015, it has become my custom to send several letters to everyone every year. In turn, the Alibaba board of directors has appointed Joseph C. Tsai to succeed me as Chairman and Eddie Yongming Wu to succeed me as Chief Executive Officer. Time flies, and this year marks my 16th year at Alibaba Group. My appointment as CEO and Chairman of Alibaba Group was beyond my imagination. Daniel ZhangAlibaba Group Chairman and CEOAlibaba Cloud Intelligence Group Chairman and CEO2023.6.20

Persons: Zhang, Alibaba, Joseph C, Tsai, Eddie Yongming Wu, Joe, Eddie, hopefuly, Daniel Zhang Alibaba, 2023.6.20 Organizations: CNBC, Alibaba Group, Cloud Intelligence, Cainiao Smart Logistics, Cloud Intelligence Group, Alibaba Locations: Alibaba

☆ Blinken heads to Beijing hoping to calm fears of a US-China break
▼ + stars: | 2023-06-16 | by ( Humeyra Pamuk | Thomson Reuters | Humeyra Pamuk Is A Senior Foreign Policy Correspondent Based In Washington Dc. She Covers The U.S. State Department | ) www.reuters.com time to read: +5 min

Blinken will hold meetings in China on June 18-19 and may meet with Chinese President Xi Jinping, sources said. He will be the highest-ranking U.S. government official to visit China since Biden took office in January 2021. That followed a tense evening phone call with Blinken on Tuesday during which Chinese Foreign Minister Qin Gang told the U.S. to stop meddling in China's affairs. So even going through the motions has some utility for both Washington and Beijing." Particularly worrisome for China's neighbors has been its reluctance to allow regular military-to-military talks between Beijing and Washington, despite repeated U.S. attempts.

Persons: Antony Blinken, Xi Jinping, Biden, Qin Gang, Wang Wenbin, Joe Biden, Andrew Small, Marshall, Tsai Ing, Stephane Dujarric, EYEING BIDEN, Xi, Emanuel Macron, Blinken's, Janet Yellen, Gina Raimondo, Yun Sun, Humeyra Pamuk, David Brunnstrom, Laurie Chen, Martin Pollard, Michelle Nichols, Ben Blanchard, Don Durfee, Daniel Wallis Organizations: Blinken, Foreign, Washington, French, U.S, Treasury, China Program, Stimson, Economic Cooperation, APEC, Biden, Thomson Locations: Beijing, United States, China, U.S, Asia, Taiwan, Taiwan Strait, Washington, Bali, Europe, East, Africa, Saudi Arabia, India, San Francisco, New York, Taipei

☆ A political drama series on Netflix has sparked a #MeToo wave in Taiwan
▼ + stars: | 2023-06-14 | by ( Reena Koh | ) www.businessinsider.com time to read: +4 min

The Taiwanese Netflix political drama "Wave Makers" has sparked a #MeToo wave in Taiwan. It triggered a series of sexual assault allegations that have rocked Taiwan's political scene. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyA new Taiwanese political drama series on Netflix that premiered on April 28 has sparked a #MeToo wave in Taiwan. This line threw open the floodgates to a wave of sexual assault allegations. As part of the #MeToo wave, Chien also came forward with her own sexual assault story in a Facebook post on June 2.

Persons: —, Let's, Chen Chien, Chen, Hsu Chia, Chen Mei, Yan Chih, Lin Nan, Tsai Mu, Hsu, Tsai Ing, Tsai, Chien Li, Chien, Yan Shi, Lin Chun Organizations: Netflix, Service, Washington Post, Democratic Progressive Party, China Morning, University Locations: Taiwan, Washington, China

☆ Taiwanese minister to make rare Britain visit this week
▼ + stars: | 2023-06-11 | by ( ) www.reuters.com time to read: +2 min

TAIPEI, June 11 (Reuters) - Taiwan Digital Minister Audrey Tang will make a rare high-level ministerial trip to Britain this week where she is expected to visit government departments and meet a company specialising in low-earth orbit satellites, her ministry said on Sunday. The two sides will "exchange views on issues related to digital governance and digital industry cooperation", the ministry added, without giving details. Tang will also visit OneWeb, which specialises in low-earth orbit satellites, and hopes to bolster Taiwan's communications resilience plans, the ministry said. Taiwan Foreign Minister Joseph Wu is expected to go to Europe this week, too, where he will attend a security forum in Prague. The last Taiwanese minister known to have visited Britain was Taiwan's top trade negotiator John Deng, who went last June.

Persons: Audrey Tang, Tang, Elon Musk's, Joseph Wu, John Deng, Britain's, Trade Greg Hands, Tsai Ing, Taiwan's, Ben Blanchard, Edmund Klamann Organizations: Taiwan Digital, WHO, Twitter, London Tech, Britain's Department for Science, Innovation, Technology, Department for Business, Trade, Elon, Taiwan, State, Thomson Locations: TAIPEI, Britain, Taiwan, Beijing, China, Europe, Prague

☆ Taiwan sends up fighters as Chinese warplanes cross strait's median line
▼ + stars: | 2023-06-11 | by ( ) www.reuters.com time to read: +3 min

TAIPEI, June 11 (Reuters) - Taiwan's air force scrambled into action on Sunday after spotting 10 Chinese warplanes crossing the sensitive median line of the Taiwan Strait, as the island's defence ministry said four Chinese warships also carried out combat patrols. In a short statement, Taiwan's defence ministry said that as of 2 p.m. (0600 GMT) on Sunday it had detected 24 Chinese air force planes, including J-10, J-11, J-16 and Su-30 fighters, as well as H-6 bombers. It did not specify where the aircraft flew but said 10 had crossed the median line of the Taiwan Strait, which separates the two sides and had previously served as an unofficial barrier. China's defence ministry did not immediately respond to requests for comment. In April, China held war games around Taiwan following a trip to the United States by Taiwan President Tsai Ing-wen.

Persons: Tsai Ing, William Lai, Lai, Tsai, Laura Rosenberger, Ben Blanchard, Martin Pollard, Michael Perry, William Mallard Organizations: Taiwan, Democratic Progressive, American Institute, Thomson Locations: TAIPEI, Taiwan, Pacific, China, Taiwan Strait, United States, Beijing, Washington, Taipei

The series, “Wave Makers,” follows the fictitious lives of a team of campaign staffers in the run-up to a presidential election in Taiwan. The turn of events took the creators of “Wave Makers” by surprise. The main story line of "Wave Makers" features the solidarity and support between its two female protagonists. “Even the protagonists in ‘Wave Makers’ might not be able to persevere in our system,” said Kang at the National Chengchi University. These are people we must protect, not treat with prejudice.”For the show’s scriptwriters, Taiwan’s #MeToo moment has not fully arrived.

Persons: MeToo, ”, Tsai Ing, ” Tsai, Chien Li, Nina Peng, Wen, Let’s, “ Let’s, William Lai, Wang Dan, Wang, Kang Ting, Kang, “, Chien, Tsai, Carlos Garcia Rawlins, Taiwan’s, Liao, ” Kang, Lu Sheng, ” Peng Organizations: Taiwan CNN —, Netflix, Democratic Progressive Party, Kuomintang, KMT, “, National Chengchi University, Chinese Communist Party, Inter, Parliamentary Union, CNN, National Taiwan Normal University Locations: Taipei, Taiwan, Beijing, “, Asia

☆ China warns Europe against official ties with Taiwan ahead of minister's visit
▼ + stars: | 2023-06-09 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/IllustrationBEIJING/PRAGUE, June 9 (Reuters) - China urged Europe on Friday not to have any official exchanges with Taiwan or support "independence forces" ahead of a planned trip to the continent next week by Taiwan Foreign Minister Joseph Wu. Czech Foreign Minister Jan Lipavsky confirmed Wu was due to visit Prague next week, saying on Friday state officials were not expected to shift from their existing policy towards Taiwan. Taiwan, which is claimed by China, has no formal diplomatic ties with any European country except the Vatican. Asked about the visit on Friday, Czech Minister Lipavsky said he had "been informed" about Wu coming to Prague. In January, then-Czech President-elect Pavel and Taiwan President Tsai Ing-wen spoke by telephone shortly after his election, in a diplomatic coup for Taiwan that infuriated China.

Persons: Dado Ruvic, Joseph Wu, Jan Lipavsky, Wu, Petr Pavel, Lipavsky, Wang Wenbin, Wang, Pavel, Tsai Ing, Marketa Pekarova Adamova, Liz Lee, Robert Muller, Ben Blanchard, Simon Cameron, Moore, Nick Macfie Organizations: REUTERS, Taiwan Foreign, Reuters, Foreign Ministry, Taiwan Democratic Progressive Party, Thomson Locations: BEIJING, PRAGUE, China, Europe, Taiwan, Joseph Wu . Czech, Prague, Vatican, Beijing, Czech, Czech Republic, Brussels, Slovakia

☆ Taiwan activates air defence as China aircraft enter zone
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +2 min

TAIPEI, June 8 (Reuters) - Taiwan activated its defence systems on Thursday after reporting 37 Chinese military aircraft flying into the island's air defence zone, some of which then flew into the western Pacific, in Beijing's latest mass air incursion. Taiwan's defence ministry said that from 5 a.m. (2100 GMT on Wednesday) it had detected 37 Chinese air force planes, including J-11 and J-16 fighters as well as nuclear-capable H-6 bombers, flying into the southwestern corner of its air defence identification zone, or ADIZ. China's defence ministry did not immediately respond to a request for comment. On Monday, she told Taiwan media that the United States had an enduring interest in preserving stability in the Taiwan Strait and the United States would continue to arm the island, a source of constant friction in Sino-U.S. ties. In April, China held war games around Taiwan following a trip to the United States by Taiwan President Tsai Ing-wen.

Persons: Laura Rosenberger, Tsai Ing, Ben Blanchard, Tom Hogue, Raju Gopalakrishnan Organizations: Pacific, American Institute, Taiwan, Thomson Locations: TAIPEI, Taiwan, Pacific, China, Russia, Japan, East China, Washington, Taipei, United States, Taiwan Strait, U.S

TAIPEI/PRAGUE, June 8 (Reuters) - Taiwan Foreign Minister Joseph Wu will make a previously unannounced visit to Europe next week, four sources briefed on the matter said, and is expected to appear with the Czech president at one event in a diplomatic breakthrough. Taiwan, which is claimed by China, has no formal diplomatic ties with any European country except the Vatican. Taiwan's foreign ministry declined to comment on Wu's Europe travel plans. In January, then-Czech President-elect Pavel and Taiwan President Tsai Ing-wen spoke by telephone shortly after his election, in a diplomatic coup for Taiwan that infuriated China. Beijing views Taiwan as being part of "one China" and demands other countries recognise its sovereignty claims, which Taiwan's democratically-elected government rejects.

Persons: Joseph Wu, Wu, Petr Pavel, Zdenek Hrib, Pavel, Tsai Ing, Ben Blanchard, Robert Muller, Ryan Woo, Andrew Gray, Angus MacSwan Organizations: Taiwan Foreign, European Union, Service, Prague, Copenhagen Democracy Summit, Thomson Locations: TAIPEI, PRAGUE, Europe, Czech, Taiwan, China, Vatican, Beijing, Central, Eastern, Ukraine, Brussels, Prague, Czech Republic, Slovakia, Bratislava, Copenhagen, Denmark, Vilnius, Lithuania

But China, which bristles at visits to Taiwan by foreign government officials, tends to ignore trips by business executives, who usually keep clear of politics. Dimon will meet bank employees and clients in Taiwan on his visit, said the source, who sought anonymity as the plans were not public, while adding that no meetings were planned with Taiwan officials. As part of his Asia tour, Dimon will also visit South Korea after the Taiwan trip, said the source. But there was no plan for President Tsai Ing-wen to meet Dimon, her office said on Friday. Dimon favours East-West "derisking" rather than decoupling, he told the three-day JPMorgan Global China Summit event in the city on Wednesday.

Persons: Jamie Dimon, Andrew Collier, Dimon, Nvidia Corp's, Jensen Huang, Pat Gelsinger, Dimon's, Ma Ying, Tsai Ing, Chen Jining, Selena Li, Kane Wu, Scott Murdoch, Ben Blanchard, Emily Chan, Mrinmay Dey, Sumeet Chatterjee, Clarence Fernandez Organizations: JPMorgan Chase &, JPMorgan, Orient Capital Research, Bloomberg, Wall, U.S, Nvidia, Intel, Financial, Commission, Shanghai's Communist, JPMorgan Global China, Thomson Locations: Taiwan, China, Taipei, Beijing, Hong Kong, Asia, South Korea, East, United States, Sydney, Bengaluru

Kinmen, Taiwan CNN —As the sun sets over Taiwan’s Kinmen islands, the neon lights of mainland China dazzle in the distance just 2.5 miles away. That lingering potential for invasion might make it seem like an unlikely place to construct a bridge to mainland China. Anti-invasion spikes along the coast of Taiwan's Kinmen islands. During a recent trip to Kinmen, Taiwan Vice President and DPP presidential candidate William Lai said he recognized the sacrifices of the islanders during decades of conflict. “The Taiwanese government looks at the Chinese military threat as something that cannot be accepted and we condemn it,” he added.

Persons: John Mees, Ko Wen, ”, Xi Jinping, Ho Chih, Sam Yeh, Kinmen, Yang Chien, ” Yang, “, Yang, Yang Pei, Huang Li, cheng, Tsai Ing, William Lai, Wu Chia, chiang, Nancy Pelosi, Kevin McCarthy, Joseph Wu, ” Wu, Maestro Wu Tseng, Maestro Wu Organizations: Taiwan CNN —, Communist, People’s Liberation Army, CNN, Democratic Progressive Party, Taiwan’s Presidential, Mainland Affairs Council, Chinese Communist Party, CCP, Mainland Affairs, Russo, Getty, Communist China's, Tourism Association, Communist Party, Xi, United States, Taiwan’s, Taiwan Locations: Kinmen, Taiwan, China, Beijing, Taipei, Taiwan’s, Xiamen –, Xiamen, Chinese, Ukrainian, Russia, Taiwan's, AFP, Jinsha, “, Fujian, California, Beijing’s

[1/3] Nvidia Corp CEO Jensen Huang speaks at the COMPUTEX forum in Taipei, Taiwan May 29, 2023. Under the agreement, announced at the Computex technology trade show in Taipei, MediaTek will integrate an Nvidia graphic processing unit chiplet and Nvidia software into the system-on-chips it supplies to automakers for infotainment displays. MediaTek systems using Nvidia software would be compatible with automated driving systems based on Nvidia technology, the companies said. The partnership with MediaTek gives Nvidia wider access to the $12 billion market for infotainment system-on-chips, the companies said. MediaTek, which has its base in the Android smartphone chip sector, sells its Dimensity Auto technology to lower-priced, mass market vehicle lines, and has strengths in mobile connectivity and Android systems.

☆ Analysis: China says it wants peace in Ukraine, but is it only on Russia's terms?
▼ + stars: | 2023-05-29 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +7 min

But Li’s trip has also laid bare the divisions between China and Europe when it comes to how peace can be reached — and served to underline Beijing’s close alignment with Moscow. As such, that’s “not on the table for China,” Tsang said. That stance has horrified much of Europe, and Li’s tour comes as China has been attempting to repair relations there. “No one will do anything against us behind Ukraine’s back, because we have built trusting relationships with all our key partners,” he added. “The crucial question is what message from Europe — Kyiv, Warsaw, Berlin, Paris, and Brussels — Li will deliver in Moscow and Beijing,” he said.

☆ Taiwan reports Chinese aircraft carrier sailed through strait
▼ + stars: | 2023-05-27 | by ( ) www.cnbc.com time to read: +2 min

A ship sails in the Taiwan Strait, as seen from Pingtan island, the closest point to Taiwan, in China's southeast Fujian province on April 8, 2023. The Chinese aircraft carrier Shandong sailed through the Taiwan Strait on Saturday accompanied by two other ships, Taiwan's defense ministry said, in the latest uptick in military tensions over the island Beijing claims as its own territory. Taiwan's military closely monitored the group using its own ships and aircraft and "responded appropriately", the ministry said in a short statement. The Shandong participated in Chinese military drills around Taiwan last month, operating in the western Pacific. In March of last year, the Shandong sailed through the Taiwan Strait, just hours before the Chinese and U.S. presidents were due to talk.

We're looking to de-risk and diversify our relationship with China," Biden told a press conference, adding that G7 nations were more unified than ever in terms of "resisting economic coercion together and countering harmful practices that hurt our workers." Biden suggested a shift in U.S.-China relations could occur soon, echoing his comment to reporters before his departure. "In terms of talking with them, I think you're going to see that thaw very shortly," Biden said. On the issue of tensions between China and Taiwan, Biden said there was a clear understanding among most of the allies that if China were to act unilaterally against Taiwan, there be a response. Biden reiterated that the United States and G7 allies would not trade in materials that would allow China to build weapons of mass destruction, but that was "not a hostile act."

☆ 'War is not an option', Taiwan president says amid China tensions
▼ + stars: | 2023-05-20 | by ( ) www.reuters.com time to read: +2 min

TAIPEI, May 20 (Reuters) - Taiwan's President Tsai Ing-wen vowed on Saturday to maintain the status quo of peace and stability across the Taiwan Strait amid high tensions with China, which has stepped up military pressure on the democratically governed island. Taiwan will not provoke and will not bow to Chinese pressure, Tsai said in a speech in the presidential office in Taipei marking the seventh anniversary of her governance. Neither side can unilaterally change the status quo with non-peaceful means," Tsai said. "Maintaining the status quo of peace and stability is the consensus for both the world and Taiwan." Taiwan is gearing up for a key presidential election in mid-January, with China tensions set to top the campaign agenda.

☆ US, Taiwan reach deal on first part of '21st Century' trade pact
▼ + stars: | 2023-05-19 | by ( David Lawder | ) www.reuters.com time to read: +3 min

WASHINGTON, May 18 (Reuters) - The U.S. and Taiwan reached agreement on the first part of their "21st Century" trade initiative, covering customs and border procedures, regulatory practices, and small business, the U.S. Trade Representative's office said on Thursday. After the initial agreement of the U.S.-Taiwan Initiative on 21st Century Trade is signed, negotiations will commence on other, more complicated trade areas including agriculture, digital trade, labor and environmental standards, state-owned enterprises, and non-market policies and practices, USTR said. "We look forward to continuing these negotiations and finalizing a robust and high-standard trade agreement that tackles 21st Century economic challenges," Tai said. Announcement of the trade pact comes just ahead of planned meetings between China's commerce minister, Wang Wenta, and USTR Tai and U.S. Commerce Secretary Gina Raimondo. The bilateral talks commenced last August, after the Biden administration excluded Taiwan from its larger pan-Asian trade initiative, the Indo-Pacific Economic Framework.

☆ China-Taiwan tensions could grip 2024 election as top business leaders sound alarms
▼ + stars: | 2023-05-19 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +12 min

China's policy regarding Taiwan, the world's leader in the semiconductor industry, could end up making it an even bigger focus. The cross-strait strife has already provoked commentary from some top contenders in the Republican presidential primary race who have stressed the need to deter a possible Chinese invasion invasion of the island. But I think ultimately what I think China respects is strength," DeSantis said. 'Like trying to separate conjoined twins'But the political will to defend Taiwan in a Chinese invasion may clash with economic forces. Some CEOs of America's biggest banks have said they would pull their business from China if directed to do so following an invasion of Taiwan.

☆ U.S., Taiwan reach deal on first part of '21st Century' trade pact
▼ + stars: | 2023-05-18 | by ( David Lawder | ) www.reuters.com time to read: +2 min

WASHINGTON, May 18 (Reuters) - The U.S. and Taiwan reached agreement on the first part of their "21st Century" trade initiative, covering customs and border procedures, regulatory practices, and small business, the U.S. Trade Representative's office said on Thursday. After the initial agreement of the U.S.-Taiwan Initiative on 21st Century Trade is signed, negotiations will commence on other, more complicated trade areas including agriculture, digital trade, labor and environmental standards, state-owned enterprises and non-market policies and practices, USTR said. "We look forward to continuing these negotiations and finalizing a robust and high-standard trade agreement that tackles 21st Century economic challenges," Tai said. Announcement of the trade pact comes just ahead of planned meetings between China's Commerce Minister Wang Wentao and USTR Tai and U.S. Commerce Secretary Gina Raimondo. The bilateral talks commenced last August, after the Biden administration excluded Taiwan from its larger pan-Asian trade initiative, the Indo-Pacific Economic Framework.

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