China Imposes Export Ban on Companies Tied to Taiwan's Military
China's Commerce Ministry added eight Taiwan-based organizations including aerospace and shipbuilding companies to an export control list, citing national and regional security concerns.
The banned companies include defense supplier Aerospace Industrial Development Corporation (AIDC), drone maker Jingwei Aerospace Technology Co., and CSBC Corporation, Taiwan's largest shipbuilding company.
The new rules, effective immediately, prohibit the export to the listed enterprises of 'dual-use items,' which can be used for both civilian and military purposes.
The ban comes as Taiwan begins its annual Han Kuang military drills, which will simulate defenses against a possible invasion by China. The drills are set to be the largest and longest so far, lasting about 10 days, twice as long as last year's exercises.
China regards self-ruled Taiwan as its own territory, to be annexed by force if necessary. Beijing has branded Taiwanese President Lai Ching-te as a separatist and refuses to speak to him.
A spokesperson for Beijing's Taiwan Affairs Office said the export controls were necessary to defend China's sovereignty and territorial integrity.
'It is also a solemn warning to the 'Taiwan independence' separatist forces,' said spokesperson Chen Binhua. ''Taiwan independence' is an evil path. Enterprises, organizations and individuals who are willing to be the henchmen of the 'Taiwan independence' separatist forces participate in splitting the country, and incite splitting the country will be severely punished according to law.'
The United States, like most countries, doesn't recognize Taiwan as a country, but is bound by its own laws to provide it with the means to defend itself.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Asahi Shimbun
7 hours ago
- Asahi Shimbun
Asian markets gain, with Japan's Nikkei up 3.5%, lifted by deal on Trump's tariffs
A currency trader watches monitors near a screen showing the Korea Composite Stock Price Index (KOSPI), top left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, July 23, 2025. (AP Photo) Asian shares rallied on Wednesday, with Tokyo's benchmark Nikkei 225 index up 3.5% after Japan and the U.S. announced a deal on President Donald Trump's tariffs. The agreement as announced calls for a 15% import duty on goods imported from Japan, apart from certain products such as steel and aluminum that are subject to much higher tariffs. That's down from the 25% Trump had said would kick in on Aug. 1 if a deal was not reached. 'This Deal will create Hundreds of Thousands of Jobs — There has never been anything like it,' Trump posted on Truth Social, noting that Japan was also investing 'at my direction' $550 billion into the U.S. He said Japan would 'open' its economy to American autos and rice. Japan's benchmark Nikkei 225 gained 3.5% in afternoon trading to 41,171.32. Hong Kong's Hang Seng jumped 1.4% to 25,470.25, while the Shanghai Composite index was little changed, gaining less than 0.1% to 3,582.30. Australia's S&P/ASX 200 edged up 0.7% to 8,737.20 and the Kospi in South Korea edged 0.4% higher to 3,183.77. 'President Trump has signed two trade deals this week with the Philippines and Japan which is likely to keep market sentiment propped up despite deals with the likes of the EU and South Korea remaining elusive, for now at least,' Tim Waterer, chief market analyst at Kohle Capital Markets, said in a report. There was a chorus of no comments from the Japanese automakers, despite the latest announcement, including Toyota Motor Corp., Honda Motor Co and Nissan Motor Corp. Japanese companies tend to be cautious about their public reactions, and some business officials have privately remarked in off-record comments that they hesitate to say anything because Trump keeps changing his mind. The Japan Automobile Manufacturers' Association also said it had no comment, noting there was no official statement yet. Japan's Prime Minister Shigeru Ishiba welcomed the agreement as beneficial to both sides. Toyota stock jumped 14% in Tokyo trading, while Honda was up nearly 11% and Nissan added 8%. In other sectors, Nippon Steel, which is acquiring U.S. Steel, rose 2.4% while video game maker and significant exporter Nintendo Co. added 0.7%. Sony Group surged 4.6%. Wall Street inched to another record on Tuesday following some mixed profit reports, as General Motors and other big U.S. companies gave updates on how much Trump's tariffs are hurting or helping them. The S&P 500 added 0.1% to the all-time high it had set the day before, closing at 6,309.62. The Dow Jones Industrial Average rose 0.4% to 44,502.44. The Nasdaq composite slipped 0.4% from its own record, to 20,892.68. So far, the U.S. economy seems to be powering through the uncertainty created by Trump's on-and-off tariffs. Many of Trump's proposed taxes on imports are currently on pause, and the next big deadline is Aug. 1. Talks are underway on possible trade deals with other countries that could lower the stiff proposals before they kick in. Trump said he reached a trade agreement with the Philippines following a meeting Tuesday at the White House, that will see the U.S. slightly drop its tariff rate for the Philippines without paying import taxes for what it sells there. In the bond market, Treasury yields sank as traders continue to expect the Federal Reserve to wait until September at the earliest to resume cutting interest rates. The yield on the 10-year Treasury eased to 4.34% from 4.38% late Monday. In other dealings early Wednesday, U.S. benchmark crude oil gained 15 cents to $65.46 a barrel. Brent crude, the international standard added 16 cents to $68.74 a barrel. In currency trading, the U.S. dollar rose to 146.78 Japanese yen from 146.64 yen. The euro cost $1.1740, down from $1.1754.
9 hours ago
JFTC OKs Visa Worldwide's Biz Improvement Plan
Tokyo, July 23 (Jiji Press)--The Japan Fair Trade Commission has approved a business improvement plan submitted by Visa Worldwide Pte Ltd., which undertakes Visa card operations in Japan and other parts of the Asia-Pacific region. Through its investigation into a suspected violation of the antimonopoly law by Visa Worldwide, the JFTC concluded that swiftly executing proposed measures by the Singapore-based firm would restore the competitive environment under the so-called commitment procedures, the Japanese antimonopoly watchdog said in a press release Tuesday. In credit card transactions, sales data are transmitted from acquirers, or companies that enables retailers to accept payments by card, to card issuers through settlement service networks. An acquirer should pay a certain rate of fees to an issuer unless they are the same. The JFTC conducted an on-site inspection of Visa Worldwide's Japanese operation in July last year and has since found that the credit card operator notified acquirers in February 2018 of a plan to apply preferential rates to such fees only when they exclusively use the Visa Worldwide network and implemented the plan in November 2021. Some acquirers have actually come to take the advantage, according to people familiar with the matter. The commission, which took an administrative step against an international credit card brand for the first time ever, believes that Visa Worldwide's practice amounts to a transaction with a restraint condition prohibited by the law. However, it decided to refrain from imposing a severer sanction on the firm. [Copyright The Jiji Press, Ltd.]
Japan Today
10 hours ago
- Japan Today
Coca-Cola confirms a cane-sugar version of its trademark cola is coming to the US
Bottles of Mexican Coca-Cola are displayed at a grocery store in Mount Prospect, Ill., Thursday, July 17, 2025. (AP Photo/Nam Y. Huh) By DEE-ANN DURBIN Coca-Cola said Tuesday it will add a cane-sugar version of its trademark cola to its U.S. lineup this fall, confirming a recent announcement by President Donald Trump. Trump said in a social media post last week that Coca-Cola had agreed to use real cane sugar in its flagship product in the U.S., which has been sweetened with high fructose corn syrup since the 1980s. Coke didn't immediately confirm the change, but promised new offerings soon. On Tuesday, Coca-Cola Chairman and CEO James Quincey said Coke will expand its product range 'to reflect consumer interest in differentiated experiences.' 'We appreciate the president's enthusiasm for our Coca-Cola brand,' Quincey said in a conference call with investors Tuesday. 'We are definitely looking to use the whole tool kit of available sweetening options." Quincey noted that Coke uses cane sugar in some other U.S. drinks, like its Simply brand lemonade and Honest Tea. Coke has also sold Mexican Coke, which is made with cane sugar, in the U.S. since 2005. 'We're always looking for opportunities to innovate and see whether there's an intersection of new ideas and where consumer preferences are evolving,' Quincey said. 'It's a good sign that the industry, including ourselves, are trying lots of different things.' Rivals PepsiCo and Dr Pepper have been selling versions of their trademark colas sweetened with cane sugar in the U.S. since 2009. Asked if Coke would also consider introducing a prebiotic version of its trademark cola — as PepsiCo did this week — Quincey said the company is currently selling a Coke with added fiber in Japan and is studying consumer response to it. Quincey said consumer demand for its products improved in the second quarter in many markets, including China, Europe, Africa and North America. 'I would I would say overall that the global economy and the global consumer remains resilient,' Quincey said. But early monsoons and conflict hurt demand in India, and Quincey said demand in Thailand and Indonesia was also weaker than expected. Quincey also said lower-income consumers in the U.S. and elsewhere have also pulled back on spending. Global case volumes of Coca-Cola fell 1%. Juice, dairy and plant-based beverages fell 4%, Coke said. Sports drink case volumes were down 3%, as higher demand in North America was offset by declines in Latin America. One bright spot was Coca-Cola Zero Sugar, which saw case volumes grow 14%. Traditional Coca-Cola still far outsells the zero-sugar variety, but consumer demand for zero-sugar versions is growing much more quickly. In North America, case volumes fell 1%, but that was an improvement from the first quarter, when they were down 3%. Quincey said Hispanic sales in the U.S. returned to normal levels by the end of June. They had plummeted starting in February, when a social media video began circulating that claimed Coke was reporting its own workers to U.S. Immigration and Customs Enforcement officers. Quincey said the claim was false. The company has been trying to win back Hispanic consumers with targeted deals and ads touting the company's local economic impact. 'It was still a headwind in the second quarter but the issue is now largely resolved,' Quincey said Tuesday. Coca-Cola reported better-than-expected earnings in the second quarter as higher prices offset the weaker volumes. Coke said pricing rose 6% globally. Revenue for the Atlanta company rose 1% to $12.5 billion. Adjusted for one-time items, quarterly revenue was $12.6 billion. That was in line with Wall Street's forecast, according to analysts polled by FactSet. Net income jumped 58% to $3.8 billion. Coke's adjusted net income was 87 cents, which was higher than the 83 cents Wall Street forecast. Coke said it now expects full-year adjusted earnings to grow 8%. At the start of the year, Coke had expected earnings to grow 8% to 10%, but in April it lowered that range to 7% to 9%. Coke earned $2.88 per share in 2024. Shares of Coca-Cola Co. were down 1% in early trading Tuesday. © Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
