Helicopters flew over with the Taiwan national flag during President Lai Ching-te’s inauguration celebration in Taipei, Taiwan, on May 20, 2024. President Lai announced that Taiwan’s defense budget will exceed 3% of its economic output to counter the rising threat from China, with a focus on modernizing the military and increasing service member retention. The U.S. has urged Taiwan to increase defense spending, with concerns over China’s military activities in the region and Taiwan’s cooperation with the U.S. and other democracies to uphold regional stability and prosperity.
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Labour pledges to ‘tear down’ barriers after new figures reveal Brexit costing UK business £37bn a year
Ministers have pledged to address trade barriers with the EU after Brexit cost UK businesses £37bn annually, with total trade 5% lower than pre-Brexit levels. Trade minister Douglas Alexander criticized the previous Conservative government's Brexit deal, stating it is not working effectively. Labour is negotiating a reset of relations with the EU to benefit future generations by tearing down unnecessary trade barriers and improving the UK's trade and investment relationship. Full Article
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