Connect with us

Hi, what are you looking for?

Economy

US approves $2 billion in arms sales to Taiwan including advanced missile defense system

The United States has approved $2 billion in arms sales to Taiwan, including the first-time delivery to the self-ruled island of an advanced surface-to-air missile defense system, in a move that has drawn China’s criticism.

Taiwan’s presidential office on Saturday thanked Washington for greenlighting the potential arms sales. Under the island’s new president, Lai Ching-te, Taiwan has been stepping up defense measures as China increased its military threats against the territory it claims as its own.

Beijing last week held war games encircling Taiwan for the second time since Lai took office in May.

The US is Taiwan’s strongest unofficial ally and its laws bound it to provide Taiwan with the means to defend itself.

“Strengthening Taiwan’s self-defense capabilities is the foundation for maintaining regional stability,” Taiwan’s presidential spokesperson Karen Kuo said.

China criticized the move, saying it undermined its sovereignty and security interests, was harming US-China relations and threatened peace across the Taiwan Strait, which separates China from Taiwan.

“China strongly condemns and firmly opposes this and has lodged serious protests with the US,” read a statement by a Chinese Foreign Ministry spokesperson. “We will take resolute countermeasures and take all measures necessary to firmly defend national sovereignty, security and territorial integrity.”

The potential sales package includes three National Advanced Surface-to-Air Missile Systems (NASAMS) and related equipment valued at up to $1.16 billion, according to the US State Department’s Bureau of Political-Military Affairs.

It also includes radar systems worth an estimated $828 million.

The NASAMS system has been battle-tested in Ukraine and will help to strengthen the Taiwanese army’s air defense capabilities, Taiwan’s Defense Ministry said.

China’s war games last week were aimed at practicing the “sealing off of key ports and key areas” around Taiwan, according to Chinese officials. Taiwan counted a record one-day total of 153 aircraft, 14 navy vessels and 12 Chinese government ships.

This post appeared first on cnn.com

You May Also Like

Investing

Fisker (NYSE: FSR) stock price has been one of the best-performing electric vehicle (EV) stocks this week even as Tesla slumped. The shares jumped...

Investing

Newmont (NYSE: NEM) reported mixed financial results even as the price of gold approached its all-time high. In all, the company’s earnings per share...

Investing

The Fox Corporation (NASDAQ: FOX) stock price has been under pressure as investors come to terms with the abrupt firing of Tucker Carlson. The...

Investing

NatWest (LON: NWG) share price rose sharply, helped by the strong results from Barclays. The stock jumped to a high of 274.8p, which was...




Disclaimer: Oldamericanbroker.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the-company.


Copyright © 2024 Oldamericanbroker.com