Guatemala president reaffirms support for 'brothers' in Taiwan
Guatemala is one of only 12 countries to retain formal ties with Chinese-claimed Taiwan and Beijing has been stepping up its campaign to win those nations over to its side. Taiwan says it has every right to forge state-to-state relations and Beijing has no right to interfere.
Arevalo, on his first trip to Taiwan since taking office last year, said at a welcome ceremony with Taiwan President Lai Ching-te that the two sides were firm friends and "brotherly peoples".
"We thank our ally for the support we have always received over these more than 90 years. We reaffirm the support of the Republic of Guatemala for the Republic of China, Taiwan," he said at the presidential office, referring to the island's formal name.
"On behalf of the people of Guatemala, I extend our hand to the people of Taiwan with the confidence that we will walk together along the path toward shared well-being, which we will make more profound and more comprehensive today."
Arevalo is being accompanied by his foreign and economics ministers.
Lai, standing next to Arevalo, said Taiwan and Guatemala will keep deepening their cooperation
"Although our two countries are geographically distant but the ideals and values of the two peoples are closely intertwined," he said.
The United States has been concerned about China's efforts to snatch away Taiwan's allies, especially in Latin America.
In February, U.S. Secretary of State Marco Rubio praised Guatemala's relations with Taiwan while on a visit to the country, saying the United States would help support it.
In 2023, Taiwan's then-president, Tsai Ing-wen, went to Guatemala a week after neighbouring Honduras severed diplomatic relations with Taipei in favour of Beijing.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Boston Globe
24 minutes ago
- Boston Globe
Amazon's emissions climbed 6% in 2024 on data center buildout
Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up TECH Advertisement Nvidia CEO downplays role in lifting US ban on chip sales to China CEO of Nvidia Jensen Huang spoke to journalists during a press conference at the Mandarin Oriental Qianmen after attending the third China International Supply Chain Expo, in Beijing, on Wednesday. Andy Wong/Associated Press The head of Nvidia downplayed his role in getting the US government to lift a ban on selling an advanced computer chip in China and said it will take time to ramp up production once orders for the AI-processor come in. CEO Jensen Huang, speaking Wednesday in the Chinese capital Beijing, was upbeat about the prospects for the H20 chip, which was designed to meet US restrictions on technology exports to China but nonetheless blocked in April. He met President Trump before his trip and his company announced this week it had received assurances that sales to China would be approved. 'I don't think I changed his mind,' Huang told a cluster of journalists, many of whom asked for his autograph or to take selfies with him. He described his role as informing governments in the United States and elsewhere of the nature and unintended consequences of their policies. The decision to lift the ban on the H20 chip was entirely in the hands of the American and Chinese governments and whatever trade talks they had, he said. 'We can only influence them, inform them, do our best to provide them with facts,' Huang said. 'And then beyond that is out of our control.' — ASSOCIATED PRESS Advertisement ECONOMY Fed Beige Book shows slight improvement People walk in a shopping district along 5th Avenue in Manhattan on July 14. Spencer Platt/Getty US economic activity 'increased slightly' between late May and early July, the Federal Reserve said in its Beige Book survey of regional business contacts. 'That represented an improvement over the previous report, in which half of districts reported at least slight declines in activity,' according to the report published Wednesday. 'Uncertainty remained elevated, contributing to ongoing caution by businesses.' All 12 regions of the country reported price increases, with businesses experiencing 'modest to pronounced input cost pressures related to tariffs,' the Beige Book said. 'Many firms passed on at least a portion of cost increases to consumers through price hikes or surcharges, although some held off raising prices because of customers' growing price sensitivity, resulting in compressed profit margins,' according to the report. The Boston Fed compiled the latest edition of the Beige Book using information gathered on or before July 7. The report includes commentary and anecdotes from business leaders and other contacts in each of the Fed's 12 regional districts. Fed officials next meet July 29-30. — BLOOMBERG NEWS Advertisement PHARMACEUTICALS J&J shrugs off Trump tariff threat and boosts outlook The Johnson & Johnson campus in New Brunswick, N.J. Mark Kauzlarich/Bloomberg Johnson & Johnson beat Wall Street's quarterly sales expectations and raised its full-year outlook, a show of confidence as the pharmaceutical industry faces the dual threats of tariffs and a crackdown on drug pricing. J&J's strong second quarter comes as President Trump floats the idea of levies on the sector. On Tuesday night, he said tariffs on drugs could 'probably' come at the end of the month, starting low and working their way up. A week earlier, Trump told reporters he would impose tariffs as high as 200 percent on drug companies if they don't shift more of their manufacturing to the US over the next year to 18 months. A slow ramp-up to tariffs would actually be good news, J&J chief financial officer Joe Wolk said in an interview. The delay shows 'there's an understanding you can't put up a biopharmaceutical manufacturing facility overnight,' Wolk said. 'As long as those conversations continue to occur, I think we're in a pretty good position.' Shares rose 6.2 percent in Wednesday trading. J&J is often an industry bellwether as the first heath care company to report earnings each quarter. Its performance is being closely watched as drugmakers operate under the specter of potential tariffs and a new policy that seeks to make US drug prices among the lowest in the world. — BLOOMBERG NEWS HEALTH Kennedy fires 2 top aides in department shake-up US Health and Human Services (HHS) Secretary Robert F. Kennedy Jr. a roundtable discussion on soil health at the US Capitol on July 15. Michael M. Santiago/Getty Health Secretary Robert F. Kennedy Jr. fired two of his top aides this week, shaking up his leadership team at the Department of Health and Human Services amid an aggressive effort to reshape public health policy. The firings were of Heather Flick Melanson, his chief of staff, and Hannah Anderson, his deputy chief of staff for policy, according to two people familiar with the matter. They spoke on the condition of anonymity because they were not authorized to speak publicly about the personnel changes. The reason for the ousters, which were first reported by CNN, was not immediately clear. Both Flick Melanson and Anderson were seen as steady and effective government veterans. During a recent Senate hearing, Kennedy indicated that they were the people in his office to call to get things done. When one lawmaker raised a concern about regulations governing the amount of sugar in orange juice, Kennedy advised: 'Why don't you call Heather Flick or Hannah Anderson this week? And we will act on that as quickly as we can.' But Kennedy has also demonstrated that he is willing to muscle his agenda forward. He has pushed ahead with a plan to fire about 20,000 staff members from the health department and pare down 28 divisions to 15 — all amid court challenges. — NEW YORK TIMES Advertisement
Yahoo
38 minutes ago
- Yahoo
Trump reportedly plans order to open 401(k)s to private markets: What it means for your retirement
President Donald Trump is reportedly preparing to sign an executive order that would expand access to private-market investments in retirement accounts. The Wall Street Journal reported, citing people familiar with the matter, that the order would direct the Labor Department and Securities and Exchange Commission to develop regulatory guidance for employers and plan administrators about the inclusion of private assets in 401(k) retirement plans. The Journal's sources indicated that the order's details aren't yet finalized and are still subject to the administration's review ahead of an announcement. Private-market investments, also known as private assets, include private equity, venture capital, real estate and hedge funds that aren't traded on public exchanges. Trump-backed 'Internet Money' Could Drive Trillion-dollar Market And Strengthen The Dollar Private assets are typically characterized by higher risk and potentially higher returns compared to traditional investments like stocks and bonds that are traded on public markets. Read On The Fox Business App Bryan Corbett, president and CEO of MFA, a trade association that represents alternative asset management options such as private credit and hedge funds, touted the anticipated order as giving investors the ability to further diversify their investment portfolio in a Reuters report. "Expanding access to alternative investments in 401(k) retirement plans will provide more Americans with the diversification and investment options needed to build wealth and save for a successful retirement," Corbett said. Conservative Economists Press Trump's Doge To Undo Biden's Esg Pension Rule During Trump's first term, the Labor Department indicated in a 2020 letter that firms may responsibly include private equity in certain investment products like target-date funds if they carefully consider the risks and fees associated with their inclusion. The Biden administration reversed that policy the following year, with the Labor Department saying it does "not endorse or recommend such investments." Treasury's Bessent Says Us Should Be 'Premier Destination' For Digital Assets In anticipation of the Trump administration's planned move on private-market investments in retirement funds, several firms have taken steps to put out investment products that include such assets. The Journal noted that Apollo Global Management and State Street have released a target-date fund that includes a private-markets component, while Blue Owl Capital indicated this week it will collaborate with Voya on products that include private markets in 401(k) investments. Reuters contributed to this article source: Trump reportedly plans order to open 401(k)s to private markets: What it means for your retirement Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
New York Post
an hour ago
- New York Post
Maurene Comey, daughter of ex-FBI Director James, fired from top US Attorney's Office job after working Diddy, Epstein cases
Maurene Comey, the daughter of former FBI Director James Comey, was fired Wednesday from the powerful Manhattan US Attorney's Office — where she prosecuted Jeffrey Epstein and his accomplice Ghislaine Maxwell. The reason for Comey's firing, which law enforcement and Department of Justice sources confirmed to The Post, was not immediately clear. President Trump has a long history of conflicts with the elder Comey, and fired him as FBI director in 2017 during his first term. Maurene Comey worked on the prosecutions of the disgraced financier pedophile Epstein and Maxwell, who was found guilty of multiple sex crimes at trial and sentenced to 20 years in prison. Advertisement Maurene Comey, daughter of former FBI Director James Comey, has been fired from the powerful Manhattan US Attorney's Office. REUTERS Comey has worked several high profile cases, including the recent Diddy sex-trafficking trial and the Epstein/Ghislaine Maxwell cases. REUTERS She also worked on the high-profile case of Sean 'Diddy' Combs. Advertisement A spokesman for the Southern District of New York declined to comment Wednesday. News of Comey's firing was first reported by Politico. The Trump administration is investigating James Comey for potential criminal conduct during the FBI's Trump-Russia collusion probe in 2016. The Secret Service also interviewed the ex-bureau director in May for a cryptic '86 47' Instagram post that led to accusations from Trump that Comey was calling for another assassination attempt against him. This is a developing story. Please check back for updates.
