RESEARCH TRIANGLE PARK, N.C., March 04, 2025 (GLOBE NEWSWIRE) — Data443 Risk Mitigation, Inc. (OTCPK: ATDS) (“Data443” or the “Company”), an AI data security and privacy software company for “All Things Data Security,” today announced the completion of major operational expense rationalizations yielding immediate and long-term financial benefits.
$3.1 Million in Annual Cost Savings Achieved
“As part of our march toward profitability and operational efficiencies across all acquisitions, we have successfully eliminated over $3.1 million in annualized operational expenses from our current operations,” stated Jason Remillard, CEO of Data443.
This cost optimization initiative follows the Company’s recent expansion in the AI sector, including an acquisition focused on email categorization and classification technologies and the launch of its innovative CAFAI™ training solution for AI large language models. Additionally, the newly established relationship with leading data center provider TierPoint, announced last week, has contributed significantly to these operational expense reductions.
Renewed Focus on Efficiency and Growth
“As the broader market recovers globally, we continue to identify new opportunities for a disciplined, optimization-focused approach in our operating reviews and deal structures, enabling us to deliver more unique, forward-leaning data security solutions for our customers,” Remillard continued. “These efficiencies drive higher quality and more focused product capabilities for customers while enabling greater investments in the business. Furthermore, as our recurring revenue continues to compound, the Company will realize additional cost savings around interest expense, which has historically been a significant financial burden.”
The Company expects to maintain these efficiencies consistently for current business operations without incurring any one-time charges.
These operational improvements coincide with significant market validation of AI-powered email security solutions, evidenced by Abnormal Security’s anticipated IPO and growing enterprise demand for intelligent security platforms such as Sailpoint.
Forward-Looking Statements
This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by use of terms such as “expect,” “believe,” “anticipate,” “may,” “could,” “will,” “should,” “plan,” “project,” “intend,” “estimate,” “predict,” “potential,” “pursuant,” “target,” “continue” or the negative of these words or other comparable terminology. Statements in this press release that are not historical statements, including statements regarding Data443’s plans, objectives, future opportunities for Data443’s services, future financial performance and operating results, and any other statements regarding Data443’s future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance, or regarding the anticipated consummation of any transaction, are forward-looking statements. These statements are not guarantees of future performance and are subject to numerous risks, uncertainties and assumptions, many of which are difficult to predict or are beyond Data443’s control. These risks, uncertainties and assumptions could cause actual results to differ materially from the results expressed or implied by the statements. They may relate to the outcome of litigation, settlements and investigations; actions by third parties, including governmental agencies; volatility in customer spending; global economic conditions; inability to hire and retain personnel; loss of, or reduction in business with, key customers; difficulty with growth and integration of acquisitions; product liability; cybersecurity risk; anti-takeover measures in the Company’s charter documents; and the uncertainties created by global health issues, such as the ongoing outbreak of COVID, and political unrest and conflict, such as the invasion of Ukraine by Russia. These and other important risk factors are described more fully in the Company’s reports and other documents filed with the Securities and Exchange Commission (“the SEC”), including in Part I, Item 1A of the Company’s Annual Report on Form 10-K filed with the SEC on April 17, 2024, and subsequent filings with the SEC. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to the Company on the date hereof. Except as otherwise required by applicable law, Data443 undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events or otherwise.
“DATA443” is a registered trademark of Data443 Risk Mitigation, Inc.
All product names, trademarks and registered trademarks are property of their respective owners. All company, product and service names used in this press release are for identification purposes only. Use of these names, trademarks and brands does not imply endorsement.
A file photo taken on March 1, 2022 shows armed personnel in Donetsk. [Photo/Xinhua]
Ukraine has enough reserves to withstand the conflict with Russia for about six months without U.S. support, the RBC-Ukraine online media outlet reported Tuesday, citing a senior parliament official.
“Our military-industrial complex has significantly expanded over the past three years, and it is capable of offsetting threats and risks,” said Fedir Venislavsky, a member of the parliament’s defense committee.
However, he acknowledged that Ukraine relies on the United States for certain weapons, including air defense systems and long-range multiple-launch rocket systems.
Venislavsky said that efforts are underway to secure alternative sources of supply for critically important weapons.
According to multiple media reports, the U.S. administration suspended delivery of military aid to Ukraine earlier in the day, days after the Oval Office saw a heated exchange between the Ukrainian and U.S. presidents at the White House.
Between February 2022 and January 2025, Washington provided $65.9 billion in military assistance to Ukraine, according to the U.S. Department of State.
Source: United Kingdom – Executive Government & Departments
Correspondence
Council Tax information letter 3/2025: Ukraine Permission Extension council tax regulations
This letter confirms that the Secretary of State has made regulations to ensure that hosting a Ukraine Permission Extension visa holder will not affect their council tax status.
The letter sets out measures the government is taking to ensure that households providing a home for a sponsored person with a Ukraine Permission Extension visa maintain their council tax discounts, exemptions and local council tax support. This reflects the protection already in place for households hosting a person with a Homes for Ukraine visa.
The Green Party has called on Prime Minister Christopher Luxon to rule out Aotearoa New Zealand joining the AUKUS military technical pact in any capacity following the row over Ukraine in the White House over the weekend.
President Donald Trump’s “appalling treatment” of his Ukrainian counterpart Volodymyr Zelenskyy was a “clear warning that we must avoid AUKUS at all costs”, said Green Party foreign affairs and Pacific issues spokesperson Teanau Tuiono.
“Aotearoa must stand on an independent and principled approach to foreign affairs and use that as a platform to promote peace.”
US President Donald Trump has paused all military aid for Ukraine after the “disastrous” Oval Office meeting with President Zelenskyy in another unpopular foreign affairs move that has been widely condemned by European leaders.
Oleksandr Merezhko, the chair of Ukraine’s Parliamentary Foreign Affairs Committee, declared that Trump appeared to be trying to push Kyiv to capitulate on Russia’s terms.
He was quoted as saying that the aid pause was worse than the 1938 Munich Agreement that allowed Nazi Germany to annex part of Czechoslovakia.
‘Danger of Trump leadership’ Tuiono, who is the Green Party’s first tagata moana MP, said: “What we saw in the White House at the weekend laid bare the volatility and danger of the Trump leadership — nothing good can come from deepening our links to this administration.
“Christopher Luxon should read the room and rule out joining any part of the AUKUS framework.”
Tuiono said New Zealand should steer clear of AUKUS regardless of who was in the White House “but Trump’s transactional and hyper-aggressive foreign policy makes the case to stay out stronger than ever”.
“Our country must not join a campaign that is escalating tensions in the Pacific and talking up the prospects of a war which the people of our region firmly oppose.
“Advocating for, and working towards, peaceful solutions to the world’s conflicts must be an absolute priority for our country,” Tuiono said.
Five Eyes network ‘out of control’ Meanwhile, in the 1News weekly television current affairs programme Q&A, former Prime Minister Helen Clark challenged New Zealand’s continued involvement in the Five Eyes intelligence network, describing it as “out of control”.
Her comments reflected growing concern by traditional allies and partners of the US over President Trump’s handling of long-standing relationships.
Clark said the Five Eyes had strayed beyond its original brief of being merely a coordinating group for intelligence agencies in the US, Canada, UK, Australia, and New Zealand.
“There’s been some talk in the media that Trump might want to evict Canada from it . . . Please could we follow?” she said.
“I mean, really, the problem with Five Eyes now has become a basis for policy positioning on all sorts of things.
“And to see it now as the basis for joint statements, finance minister meetings, this has got a bit out of control.”
CHICAGO, March 04, 2025 (GLOBE NEWSWIRE) — Marquette National Corporation (OTCQX: MNAT) today reported net income of $17.1 million for the year ended December 31, 2024, compared to net income of $16.1 million for the year ended December 31, 2023. The Company recorded earnings per share of $3.91 for 2024 as compared to earnings of $3.69 per share for the year ended December 31, 2023.
At December 31, 2024, total assets were $2.208 billion, an increase of $66 million, or 3%, compared to $2.142 billion at December 31, 2023. Total loans decreased by $19.3 million, to $1.405 billion compared to $1.425 billion at the end of 2023. Total deposits increased by $30.0 million, or 2%, to $1.740 billion compared to $1.710 billion at the end of 2023.
Paul M. McCarthy, Chairman & CEO, said, “the primary reason for the increase in consolidated earnings was a higher level of realized and unrealized gains on the Company’s equity portfolio in 2024. The increase in realized and unrealized gains on the Company’s equity portfolio was partially offset by a decrease in net interest income and an increase in provision for credit losses.”
Marquette National Corporation is a diversified financial holding company and the parent of Marquette Bank, a full-service, community bank that serves the financial needs of communities in Chicagoland. The Bank has branches located in: Chicago, Bolingbrook, Bridgeview, Evergreen Park, Hickory Hills, Lemont, New Lenox, Oak Forest, Oak Lawn, Orland Park, Summit and Tinley Park, Illinois.
Special Note Concerning Forward-Looking Statements.
This document contains, and future oral and written statements of the Company and its management may contain, forward-looking statements with respect to the financial condition, results of operations, plans, objectives, future performance and business of the Company. Forward-looking statements, which may be based upon beliefs, expectations and assumptions of the Company’s management and on information currently available to management, are generally identifiable by the use of words such as “believe,” “expect,” “anticipate,” “bode”, “predict,” “suggest,” “project”, “appear,” “plan,” “intend,” “estimate,” ”annualize,” “may,” “will,” “would,” “could,” “should,” “likely,” “might,” “potential,” “continue,” “annualized,” “target,” “outlook,” as well as the negative forms of those words, or other similar expressions. Additionally, all statements in this document, including forward-looking statements, speak only as of the date they are made, and the Company undertakes no obligation to update any statement in light of new information or future events.
A number of factors, many of which are beyond the ability of the Company to control or predict, could cause actual results to differ materially from those in its forward-looking statements. These factors include, but are not limited to: (i) the strength of the local, state, national and international economies and financial markets (including effects of inflationary pressures and supply chain constraints); (ii) effects on the U.S. economy resulting from the implementation of policies proposed by the new presidential administration, including tariffs, mass deportations and tax regulations; (iii) the economic impact of any future terrorist threats and attacks, widespread disease or pandemics, acts of war or threats thereof (including the Russian invasion of Ukraine and ongoing conflicts in the Middle East), or other adverse events that could cause economic deterioration or instability in credit markets, and the response of the local, state and national governments to any such adverse external events; (iv) new or revised accounting policies and practices, as may be adopted by state and federal regulatory agencies, the Financial Accounting Standards Board or the Public Company Accounting Oversight Board; (v) changes in local, state and federal laws, regulations and governmental policies concerning the Company’s general business and any changes in response to the bank failures in 2023; (vi) the imposition of tariffs or other governmental policies impacting the value of products produced by the Company’s commercial borrowers; (vii) increased competition in the financial services sector, including from non-bank competitors such as credit unions and fintech companies, and the inability to attract new customers; (viii) changes in technology and the ability to develop and maintain secure and reliable electronic systems; (ix) unexpected results of acquisitions which may include failure to realize the anticipated benefits of the acquisitions and the possibility that transaction costs may be greater than anticipated; (x) the loss of key executives and employees, talent shortages and employee turnover; (xi) changes in consumer spending; (xii) unexpected outcomes and costs of existing or new litigation or other legal proceedings and regulatory actions involving the Company; (xiii) the economic impact on the Company and its customers of climate change, natural disasters and exceptional weather occurrences such as tornadoes, floods and blizzards; (xiv) fluctuations in the value of securities held in our securities portfolio, including as a result of changes in interest rates; (xv) credit risk and risks from concentrations (by type of borrower, geographic area, collateral and industry) within our loan portfolio and large loans to certain borrowers (including CRE loans); (xvi) the overall health of the local and national real estate market; (xvii) the ability to maintain an adequate level of allowance for credit losses on loans; (xviii) the concentration of large deposits from certain clients who have balances above current FDIC insurance limits and who may withdraw deposits to diversify their exposure; (xix) the ability to successfully manage liquidity risk, which may increase dependence on non-core funding sources such as brokered deposits, and may negatively impact the Company’s cost of funds; (xx) the level of non-performing assets on our balance sheets; (xxi) interruptions involving our information technology and communications systems or third-party servicers; (xxii) the occurrence of fraudulent activity, breaches or failures of our third-party vendors’ information security controls or cybersecurity-related incidents, including as a result of sophisticated attacks using artificial intelligence and similar tools or as a result of insider fraud; (xxiii) changes in the interest rates and repayment rates of the Company’s assets; (xxiv) the effectiveness of the Company’s risk management framework, and (xxv) the ability of the Company to manage the risks associated with the foregoing as well as anticipated. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements.
Marquette National Corporation and Subsidiaries
Financial Highlights
(Unaudited)
(in thousands, except share and per share data)
Balance Sheet
12/31/24
12/31/23
Percent Change
Total assets
$2,207,663
$2,142,039
3
%
Total loans, net
1,390,799
1,410,345
-1
%
Total deposits
1,739,799
1,709,750
2
%
Total stockholders’ equity
173,579
159,053
9
%
Shares outstanding
4,367,477
4,381,162
0
%
Book value per share
$39.74
$36.30
9
%
Tangible book value per share
$31.65
$28.24
12
%
Operating Results
Year Ended December 31,
Percent Change
2024
2023
Net Interest income
$45,032
$48,654
-7
%
Provision for credit losses
3,700
2,619
41
%
Realized securities gains (losses), net
1,947
(662
)
*
Unrealized holding gains on equity securities and exchange traded funds
MAHWAH, N.J., March 04, 2025 (GLOBE NEWSWIRE) — Radware® (NASDAQ: RDWR), a global leader in application security and delivery solutions for multi-cloud environments, announced it is holding its Hackers Challenge on March 13, 2025, in Lima, Peru at the Westin Lima Hotel and Convention Center. The flagship event, which brings together global security and technology experts from the private and public sector, will combine learning, collaboration and innovation to help companies solve their most pressing cybersecurity issues.
According to Piero Garmendia, Radware’s regional manager for the South of Latin America region, “Radware’s Hackers Challenge offers organizations a unique opportunity to watch hackers in live action and then apply that learning in strengthening their own cyber defense strategies. We are convinced the simulation will serve as a key platform to inspire ideas and prepare security professionals for the cyber challenges of the future.”
During the event, hackers will go head-to-head with Radware’s security experts and web application and API protection defenses, trying to breach protected web applications by circumventing tools designed to block their malicious attempts. While witnessing the hackers’ techniques, the live audience will learn corresponding protection strategies.
In addition, participants will learn how artificial intelligence can be used to manage security vulnerabilities across corporate networks. They also will get firsthand insights from a panel of cybersecurity and digital transformation experts representing government offices and leading financial institutions from Peru as well as an international embassy.
“In a world that is becoming more inter-connected, cybersecurity is a fundamental pillar for progress,” said Arie Simchis, Radware’s regional director in Latin America. “Our event reflects Radware’s leadership and ongoing commitment to cybersecurity innovation in the region. Operating for nearly 20 years in Latin America, we intend to continue to play a major role in strengthening cybersecurity capabilities and increasing technological resilience across the region.”
Radware’s Latin American presence spans Argentina, Bolivia, Brazil, Chile, Columbia, Ecuador, Mexico, Panama, and Peru. In addition, the company has cloud security service centers in Chile and Brazil. The Latin American facilities are part of Radware’s worldwide network of over 50 cloud security service centers, which offer a combined mitigation capacity of 15Tbps. The company plans to continue to grow its global footprint, opening more cloud security service centers in 2025.
Visit Radware’s Hackers Challenge website for more information.
About Radware Radware® (NASDAQ: RDWR) is a global leader in application security and delivery solutions for multi-cloud environments. The company’s cloud application, infrastructure, and API security solutions use AI-driven algorithms for precise, hands-free, real-time protection from the most sophisticated web, application, and DDoS attacks, API abuse, and bad bots. Enterprises and carriers worldwide rely on Radware’s solutions to address evolving cybersecurity challenges and protect their brands and business operations while reducing costs. For more information, please visit the Radware website.
Radware believes the information in this document is accurate in all material respects as of its publication date. However, the information is provided without any express, statutory, or implied warranties and is subject to change without notice.
The contents of any website or hyperlinks mentioned in this press release are for informational purposes and the contents thereof are not part of this press release.
Safe Harbor Statement This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements made herein that are not statements of historical fact, including statements about Radware’s plans, outlook, beliefs, or opinions, are forward-looking statements. Generally, forward-looking statements may be identified by words such as “believes,” “expects,” “anticipates,” “intends,” “estimates,” “plans,” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may,” and “could.” For example, when we say in this press release that we intend to continue to play a major role in strengthening cybersecurity capabilities and increasing technological resilience across the region, we are using forward-looking statements. Because such statements deal with future events, they are subject to various risks and uncertainties, and actual results, expressed or implied by such forward-looking statements, could differ materially from Radware’s current forecasts and estimates. Factors that could cause or contribute to such differences include, but are not limited to: the impact of global economic conditions, including as a result of the state of war declared in Israel in October 2023 and instability in the Middle East, the war in Ukraine, and the tensions between China and Taiwan; our dependence on independent distributors to sell our products; our ability to manage our anticipated growth effectively;a shortage of components or manufacturing capacity could cause a delay in our ability to fulfill orders or increase our manufacturing costs; our business may be affected by sanctions, export controls, and similar measures, targeting Russia and other countries and territories, as well as other responses to Russia’s military conflict in Ukraine, including indefinite suspension of operations in Russia and dealings with Russian entities by many multi-national businesses across a variety of industries; the ability of vendors to provide our hardware platforms and components for the manufacture of our products; our ability to attract, train, and retain highly qualified personnel; intense competition in the market for cyber security and application delivery solutions and in our industry in general, and changes in the competitive landscape; our ability to develop new solutions and enhance existing solutions; the impact to our reputation and business in the event of real or perceived shortcomings, defects, or vulnerabilities in our solutions, if our end-users experience security breaches, if our information technology systems and data, or those of our service providers and other contractors, are compromised by cyber-attackers or other malicious actors or by a critical system failure; outages, interruptions, or delays in hosting services; the risks associated with our global operations, such as difficulties and costs of staffing and managing foreign operations, compliance costs arising from host country laws or regulations, partial or total expropriation, export duties and quotas, local tax exposure, economic or political instability, including as a result of insurrection, war, natural disasters, and major environmental, climate, or public health concerns, such as the COVID-19 pandemic; our net losses in the past two years and possibility we may incur losses in the future; a slowdown in the growth of the cyber security and application delivery solutions market or in the development of the market for our cloud-based solutions; long sales cycles for our solutions; risks and uncertainties relating to acquisitions or other investments; risks associated with doing businessin countries with a history of corruption or with foreign governments;changes in foreign currency exchange rates; risks associated with undetected defects or errors in our products; our ability to protect our proprietary technology; intellectual property infringement claims made by third parties; laws, regulations, and industry standards affecting our business; compliance with open source and third-party licenses; and other factors and risks over which we may have little or no control. This list is intended to identify only certain of the principal factors that could cause actual results to differ. For a more detailed description of the risks and uncertainties affecting Radware, refer to Radware’s Annual Report on Form 20-F, filed with the Securities and Exchange Commission (SEC), and the other risk factors discussed from time to time by Radware in reports filed with, or furnished to, the SEC. Forward-looking statements speak only as of the date on which they are made and, except as required by applicable law, Radware undertakes no commitment to revise or update any forward-looking statement in order to reflect events or circumstances after the date any such statement is made. Radware’s public filings are available from the SEC’s website at www.sec.gov or may be obtained on Radware’s website atwww.radware.com.
Headline: Thales reports its 2024 full-year results
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Order intake: €25.3 billion, up 9% (+6% on an organic basis1)
Sales: €20.6 billion, up 11.7% (+8.3% on an organic basis)
Adjusted EBIT2: €2,419 million, up 13.4% (+5.7% on an organic basis)
Adjusted net income, Group share2: €1,900 million, up 7%
Consolidated net income, Group share: €1,420 million, up sharply by 39%
Free operating cash flow from continuing operations2,3: €2,142 million, up 9%
Free operating cash flow2: €2,027 million, stable against 2023
Dividend4of €3.70 per share, representing 40% of Adjusted net income, Group share
Non-financial performance: steady progress towards medium to long-term targets
2025 objectives:
Book-to-bill5above 1
Organic sales growth of between +5% and +6%, corresponding to sales between €21.7 billion and €21.9 billion
Adjusted EBIT margin between 12.2% and 12.4%
Thales’s Board of Directors (Euronext Paris: HO) met on March 3, 2025 to review the 2024 financial statements6.
“2024 was once again a year of strong profitable growth for Thales. Thales, a world leader in advanced technologies in Defence, Aerospace, Cybersecurity and Digital, maintained excellent sales momentum throughout the year, achieving a record order intake of more than €25 billion. The record order book provides unprecedented visibility for all our activities. Sales exceeded the €20 billion mark with organic growth of 8.3%, above expectations. Defence activities, underpinned by an ongoing increase in the Group’s production capacity, the technological excellence of our products and the commitment from all our colleagues, contributed in particular to this performance. Thales also demonstrated once again its ability to generate profitable growth, with an increase in EBIT in absolute terms and as a percentage, reflecting the strength of its operating leverage. Thanks to its unique business model based on world-class products, systems and services, Thales generated free operating cash flow of more than €2 billion. Non-financial performance was also remarkable in 2024. The validity of our CSR strategy was acknowledged as Thales joined the CAC 40 ESG index in 2024. This historic performance is the result of the unfailing commitment of our 83,000 employees, and I would like to thank them sincerely for their dedication to our clients. We are starting 2025 with confidence and determination and a positive outlook for the vast majority of our activities. Thales presented its new strategic roadmap in November 2024. By drawing on its unique leadership positions serving growing markets and its ability to innovate and anticipate technological breakthroughs, the Group affirms its ambition to deliver accelerated, profitable and sustainable growth over the coming years, starting in 2025.” Patrice Caine, Chairman & Chief Executive Officer
Key figures
Order intake for the 2024 financial year increased by 9% compared with 2023 at €25,289 million and by +6% on an organic basis (i.e. at constant scope and exchange rates). Commercial performance was once again supported by strong demand in the Defence segment and by continued sustained momentum in the Aerospace segment. As at 31 December 2024, the consolidated order book amounted to nearly €51 billion, a record level, up by nearly €5.4 billion compared with the end of 2023.
Sales totaled €20,577 million, up 11.7% from 2023 (+8.3% in organic growth). This robust growth reflects in particular the solid performance of the Defence business throughout the year.
Adjusted EBIT7 stood at €2,419 million in 2024 (11.8% of sales), compared with €2,132 million (11.6% of sales) in 2023, an increase of 13.4% (+5.7% organic change).
At €1,900 million, Adjusted net income,Group share7 was up +7% compared to 2023.
Consolidated net income, Group share, stood at €1,420 million, up sharply by +39% from 2023. This increase can be explained notably by the recognition in 2023 of a non-current and non-recurring expense linked to the implementation of insurance coverage for the Group’s commitments under the Thales UK Pension Scheme. These commitments were transferred to Rothesay at the end of 2023.
Free operating cash flow from continuing operations7,9 amounted to €2,142 million, compared with €1,968 million in 2023. Including the contribution of discontinued operations, free operating cash flow7 amounted to €2,027 million, compared with €2,026 million in 2023. Calculated on the basis of the scope of continuing operations, the cash conversion ratio of Adjusted net income, Group share, into operating free cash flow was 114%. This once again exceptional performance, which saw the cash conversion ratio exceed 100% for the fifth consecutive year, reflects the excellent momentum of new orders, the phasing effects on cash inflows related to contracts’ execution and the continued Group’s mobilization of its CA$H! plan aimed at optimizing this conversion ratio.
In this context, the Board of Directors decided to propose the payment of a dividend of €3.70 per share, corresponding to a payout ratio of 40% of the Adjusted net income, Group share. An interim dividend of €0.85 per share was paid on December 5, 2024. The balance of €2.85 will be paid on May 22, 2025.
Order intake
Order intake for the 2024 financial year totaled €25,289 million, up 9% from 2023 in total change and up +6% at constant scope and exchange rates11. For the fourth consecutive year, the order intake was more than 20% higher than sales (book-to-bill). Thebook-to-bill ratio was 1.23, flat against 2023, and 1.28 excluding the Cyber & Digital business, where the order intake is structurally very close to sales.
In 2024, Thales signed 35 large orders with a unit value of over €100 million, representing a total of €8,674 million:
Four large orders booked in Q1 2024:
The entry into force of the third phase of the order placed by Indonesia in 2022 for the purchase of 42 Rafale aircraft (18 aircraft and support services);
Phased contract with the French Defence Procurement Agency (DGA) to develop the next generation of sonars to equip French nuclear-powered ballistic-missile submarines (SSBN);
Order of an aerial surveillance system for a military customer in the Middle East;
Second tranche of the contract signed in 2023 between France and Italy for the production of 400 ASTER B1NT ground-to-air missiles.
Eight large orders booked in Q2 2024:
Order for a next generation cloud native “FLYTEDGE” InFlight Entertainment System for a major worldwide airline;
Order by SKY Perfect JSAT to Thales Alenia Space of JSAT-31, a new generation of satellite reconfigurable in orbit using Space INSPIRE technology;
Exomars 2028, a contract signed between industrial prime contractor Thales Alenia Space and the European Space Agency (ESA) to relaunch the European space mission dedicated to the exploration of the Red Planet;
Order of two new F126 frigates by the German Navy. This additional contract brings the number of F126 frigates acquired by the German Navy to six in the past four years;
Order by the Dutch Ministry of Defence of seven additional Ground Master 200 multi-mission compact radars;
Service contract for the maintenance of the Royal Australian Navy fleet;
Order by an Asian customer of latest-generation Ground Master 400 Alpha long-range air surveillance radars;
Order by France’s Joint Munitions Command (SiMu) of tens of thousands of 120mm rifled ammunition.
Seven major orders recorded in Q3 2024:
Notification by the DGA of the second tranche of the development of the future RBE2 XG radar for the Rafale F5;
Order for the supply of anti-submarine warfare systems for the first phase of the construction of six HUNTER-class frigates for the Royal Australian Navy;
Order for the renovation of an air traffic management system;
Order from the UK Ministry of Defence for the supply of Lightweight Multi-role Missiles (LMM) to strengthen Ukraine’s air defence capabilities;
Order of LMM for the British armed forces;
Order for the supply of Ground Fire multifunction radar and engagement modules following France’s acquisition of seven SAMP/T NG air defence systems;
Order for the supply of communications, vetronics, navigation and optronics equipment for vehicles in the French Army’s SCORPION program.
Sixteen large orders booked in Q4 2024:
Order for the supply of a satellite for the European Space Agency’s EnVision scientific mission to understand the planet Venus;
Contract amendment signed with OHB System for the payload of the third satellite of the European CO2M mission focused on CO2 emissions generated by human activity;
Amendment to the contract with the European Space Agency for the development of the ESPRIT communications and refueling module for the future lunar space station, Gateway;
Order for the development of the world’s first quantum key distribution (QKD) system from geostationary orbit, in collaboration with Hispasat;
Contract with the Mohammed Bin Rashid Space Centre to develop the Emirates Airlock Module on board the future lunar space station Gateway;
Entry into force of the contract for the supply of 12 Rafale to Serbia;
Order from Naval Group for the supply of equipment for the submarine delivery contract in the Netherlands;
Order under the AJISS contract to provide In-Service Support to Royal Canadian Navy ships;
Order for the development and production of 430 new-generation MICA-NG interception, combat and self-defence missile seekers;
Order from the UK Ministry of Defence for the development and preparation of large-scale production of STARStreak HVMs (High Velocity Missiles) for the armed forces;
Order from the French Air Navigation Services Directorate (DSNA) aimed at improving the 4-Flight air traffic management system;
Amendment to the CONTACT contract with the DGA providing the armed forces with a range of software-defined radios designed for collaborative combat;
Order from the UK Ministry of Defence to ensure the permanence and maneuverability of the Royal Navy’s operational communications;
Order from the DGA as part of the SYRACUSE IV program to equip the French army’s SCORPION vehicles with Thales’ secure satellite communications solution;
Order from the DGA for the design, delivery and maintenance of a resilient communication system;
Order from the DGA to produce an encryption key management and distribution system and key injector for the Ministry of the Armed Forces.
With a total amount of €16,615 million, order intake with a unit value of less than €100 million continued to record favorable momentum.
Geographically12, order intake in mature markets amounted to €19,010 million, very close to that recorded in 2023, which though included the £1.8 billion MSET contract in the United Kingdom. Sales momentum elsewhere was also solid, particularly in the rest of Europe (up by 16% on an organic basis) and in Australia and New Zealand (up by 13% on an organic basis). Order intake in emerging markets was up sharply in 2024, amounting to €6,279 million (+39% at constant scope and exchange rates) thanks to continued strong momentum in the Near and Middle East (with an organic increase of 80%).
Order intake in the Aerospace segment totaled €6,434 million compared to €5,606 million in 2023 (+14% at constant scope and exchange rates). This solid growth reflects several trends.
The different segments of the Avionics market continued to record sustained demand in 2024;
The Space business posted sustained growth in order intake, including five orders with a unit value of more than €100 million recorded in the fourth quarter, four of which in OEN (Observation, Exploration & Science and Navigation) activities.
At December 31, 2024, the segment’s order book stood at €10.5 billion, up 13% from 2023.
At €14,723 million compared to €13,944 million in 2023, order intake in the Defence segment set a new record (+5% at constant scope and exchange rates). The book-to-bill ratio was 1.34, above 1.2 for the sixth consecutive year. This high level is explained by continued strong demand in all activities, with twenty-seven contracts with a unit value of more than €100 million recorded in 2024. The segment’s order book reached a new record at €39.2 billion (up 12%), corresponding to 3.6 years of sales, offering strong visibility for the years ahead.
At 4,032 million, order intake in the Cyber & Digital segment was structurally very close to sales as most business lines in this segment operate on short sales cycles. The order book is therefore not significant.
Sales
Note: full-year 2023 figures have been restated to reflect the transfer of cyber civil activities from the Defence segment to the Cyber & Digital segment.
Sales for the 2024 financial year totaled €20,577 million, compared to €18,428 million in 2023, up 11.7% in total change and 8.3% in organic terms (at constant scope and exchange rates14), driven in particular by the robust performance of the Defence segment.
Geographically15, sales recorded solid growth in both mature markets (+7.9% in organic terms) and emerging markets (+9.6% in organic terms), driven by double-digit growth in Asia.
Sales in the Aerospace segment totaled €5,471 million, up 4.8% from 2023 (+2.9% at constant scope and exchange rates). Momentum in this segment reflects contrasting trends:
The Avionics business posted mid-single digit organic growth in 2024, notably driven by strong momentum in both original equipment activities and aftermarket services, with a return to pre-Covid levels in air traffic. However, as expected, the fourth quarter was impacted by delays in aircraft deliveries to airlines, which postponed in-flight entertainment (IFE) sales;
As expected, sales were almost flat in the Space business. The telecommunications segment continued to be impacted by structurally lower demand in the geostationary satellite market. Conversely, trends remain positive for OEN activities.
Sales in the Defence segment totaled €10,969 million, up 13.9% from 2023 (+13.3% at constant scope and exchange rates). This strong growth came against a backdrop of steady growth in the Group’s production capacity, enabling it to meet high demand in all product lines. Growth was notably driven by land and air systems, such as tactical vehicles and systems or surface radars. The fourth quarter of 2024 also benefited from favorable cut-off effects.
At €4,024 million, sales in the Cyber & Digital segment increased by 1.4% at constant scope and exchange rates (and +14.8% in total change including the positive scope effect of the acquisitions of Imperva and Tesserent). This moderate organic sales growth reflects different trends depending on the activities:
Strong momentum continued for cyber businesses, including a strong performance from Imperva;
Against a high comparison basis in 2023, payment services sales were impacted by destocking by our customers in North America;
Lastly, the digitalization of secure connectivity solutions maintained its strong growth. Sales generated in fully digital connectivity solutions (including eSIMs and on-demand connectivity platforms) recorded double-digit organic growth and accounted for more than half of sales of this secure connectivity solutions business in 2024.
Results
For 2024, the Group posted Adjusted EBIT16 of €2,419 million, or 11.8% of sales, compared to €2,132 million (11.6% of sales) in 2023.
The Aerospace segment recorded Adjusted EBIT of €391 million (7.2% of sales), compared with €369 million (7.1% of sales) in 2023. The segment’s Adjusted EBIT margin is driven by the Avionics business, which posted a double-digit margin and improving, including the contribution of Cobham AeroComms. However, Space activities weighed on the segment’s margin, recording as expected a negative Adjusted EBIT margin in 2024 resulting from several factors: an expected increase in R&D spending, restructuring costs linked to the adaptation plan announced in March 2024 and the impact of inflation not reflected on past contracts.
Adjusted EBIT for the Defence segment amounted to €1,432 million, compared with €1,270 million in 2023 (an increase of +13.0% at constant scope and exchange rates). The margin for this segment was stable at 13.1%, compared to 13.2% in 2023.
At €585 million (14.5% of sales), Adjusted EBIT in the Cyber & Digital segment recorded solid growth in both value and margin. The improvement in profitability was notably due to the successful integration of Imperva and the robust margin on payment services and secure connectivity solutions for mobile networks in highly competitive markets.
Naval Group’s contribution to the Group’s Adjusted EBIT amounted to €93 million in 2024, compared with €91 million in 2023.
At -€166 million, compared with €2 million in 2023, net financial interest increased sharply, as expected. This increase was mainly linked to the substantial rise in debt following the acquisitions made in 2023. Other adjusted financial income16 stood at €35 million in 2024 versus -€37 million in 2023, reflecting the exceptional positive impact of dividends on non-consolidated affiliates and foreign exchange gains. The adjusted financial expense on pensions and other long-term employee benefits16 improved significantly (-€49 million compared with -€76 million in 2023), reflecting the removal of the interest expense following the transfer of UK pension obligations in December 2023.
At €21 million, compared with €105 million in 2023, the Adjusted net income, Group share, from discontinued operations16 was in line with trends in the Transport business, which was sold on May 31, 2024.
As a result, Adjusted net income, Group share16 was €1,900 million, compared to €1,768 million in 2023, after an adjusted income tax charge16 of -€427 million, compared to -€370 million in 2023. At 20.4% in 2024 compared to 20.1% in 2023, the effective tax rate was stable.
The Adjusted net income, Group share, per share16 amounted to €9.24, up 9% from 2023 (€8.48).
Consolidated net income, Group share, stood at €1,420 million, up 39% from 2023. This increase can be explained notably by the recognition in 2023 of a non-current and non-recurring expense linked to the implementation of insurance coverage for the Group’s commitments under the Thales UK Pension Scheme.
Financial position at December 31, 2024
Free operating cash flow17 amounted to €2,027 million compared to €2,026 million in 2023. It included a contribution of €2,142 million from continuing operations and -€116 million from discontinued operations. For continuing operations, the cash conversion ratio of Adjusted net income, Group share, into free operating cash flow was 114%.
The net balance of acquisitions and disposals of subsidiaries and affiliates amounted to €359 million. Under its acquisition strategy, the Group completed two major operations in 2024:
The acquisition (on April 2, 2024) of Cobham Aerospace Communications, a leading supplier of cutting-edge technologies enabling flexible, integrated and more-autonomous avionics systems, based primarily in the United States and generating sales of approximately $200 million in 2023 (see press releases dated July 12, 2023 and April 2, 2024);
The sale (on 31 May 2024) to Hitachi Rail of the Transport business, a global leader in rail signaling and train control systems, telecommunications and supervision systems, and fare collection solutions (see press releases dated August 4, 2021 and May 31, 2024). This business generated sales of €1,822 million in 2023.
As part of the share buyback program covering a maximum of 3.5% of the capital announced in March 2022 and completed in March 2024, 1,245,757 shares were repurchased during 2024, representing 0.6% of the share capital, for €176 million. The Group repurchased a total of 7,469,396 shares under this program, 3.5% of the share capital.
At December 31, 2024, net debt amounted to €3,044 million compared with €4,190 million at December 31, 2023. This decrease reflects the impact of free operating cash flow generation, acquisitions and disposals for -€359 million (€3,464 million in 2023), the payment of €708 million in dividends (€634 million in 2023), new lease liabilities for €143 million (€166 million in 2023) and the share buyback program.
Equity, Group share amounted to €7,515 million, compared with €6,830 million at December 31, 2023. This increase reflects the positive contribution of consolidated net income, Group share (€1,420 million) less the dividend payout (-€708 million) and share buybacks (-€176 million).
Non-financial performance
In line with its corporate purpose of “Building a future we can all trust”, Thales has set itself the ambition in terms of Corporate Social Responsibility (CSR): to contribute to a safer, greener and more inclusive world. First, the Group will seek to maximize the contribution of its portfolio of solutions to the planet and society. Secondly, Thales has set itself ambitious targets on three main priorities:
The fight against global warming;
Strengthening gender diversity at all levels;
The implementation of the best standards in terms of ethics and compliance.
In terms of the fight against global warming, scope 1 & 2 CO2 emissions fell by 56.8% in 2024 compared to 2018 and scope 3 emissions fell by 24.7% compared to 2018. The Group has thus achieved its 2030 targets ahead of schedule for the second consecutive year. The absolute value reduction targets for carbon footprint remain relevant for 2030 given the Group’s growth prospects. To raise employee awareness to climate change and its impacts on society and on the Group, a voluntary training named “Thales Climate Passport” was deployed in 2024 with the aim of training 50% of managers. Over 67.4% of managers, representing around 35,000 employees, completed this training course in 2024, demonstrating the great success of this training.
With regard to strengthening diversity, Thales has set itself an ambitious target for 2026 to have 75% of management committees with at least 4 women. Thus, at the end of 2024, 61.5% of the Group’s management committees had at least 4 women, compared to 52.6% at the end of 2023. The highest levels of responsibility comprised 21.1% women at the end of 2024[1]; a performance in line with the Group’s trajectory to reach the set goal of 22.5% by 2026 (compared to 20.4% at the end of 2023 and 16.6% at the end of 2018).
In the area of ethics and compliance, 100% of employees concerned by the 2024 anti-corruption training campaign have been trained, demonstrating the Group’s continuous commitment to train all employees potentially exposed to risk situations. In 2024, the ISO 37001 certification “Anti-bribery management systems” was renewed for 3 years and extended to Germany, Australia, and New Zealand after Canada and the United States in 2023, and the United Kingdom and the Netherlands in 2022. Thus, in 2024, the revenue generated by certified entities represents 64% of the Group’s revenue (vs. 58% in 2023).
[1] Percentage of women in the total workforce: 27.4%.
Proposed dividend
The Board of Directors decided to propose to the shareholders, who will convene at the Annual General Meeting on May 16, 2025, the payment of a dividend of €3.70 per share. This corresponds to a payout ratio of 40% of the Adjusted net income, Group share, per share.
If approved, the ex-dividend date will be May 20, 2025, and the payment date will be May 22 2025. This dividend will be paid fully in cash and will amount to €2.85 per share, after deducting the interim dividend of €0.85 per share paid in December 2024.
Outlook
Thales is embarking on 2025 with confidence, bolstered by good visibility in the vast majority of its activities.
In 2025, the Avionics business will be driven by both the original equipment and aftermarket services activities, the continued growth of the Cobham AeroComms business, and the gradual recovery of the IFE business. In the Space business, the outlook remains positive, particularly in the Observation, Exploration & Science, Navigation and military telecommunications activities. However, the structural weakness of demand in the geostationary satellite market will dampen the growth of this activity. Thales will continue to implement its cost adaptation plan, with the objective of an Adjusted EBIT margin of 7%+ in the Space business in 2028.
The Defence segment, which enjoys a record order book, will be further supported by strong demand in 2025, against a backdrop of increasing military spending, particularly in the geographical areas where the Group operates. With the increase in its production capacity over the past several years and a portfolio of premium solutions incorporating differentiating leading technologies, Thales is ideally positioned to meet its customers’ needs.
Lastly, the Cyber and Digital segment will benefit from positive momentum in 2025, supported by Thales’ unique positioning and leadership. The continued development of Imperva will strengthen the differentiating value proposition in cybersecurity activities in order to take advantage of the buoyant environment. The payment services business is also expected to gradually return to growth.
The Group expects net investment expenses to slightly exceed €700 million in 2025 (after €617 million in 2024) to meet the need to increase production capacity, particularly in the Defence business.
As a result, Thales sets the following targets for 2025:
A book-to-bill ratio above 1;
Organic sales growth of between +5% and +6%, corresponding to sales in the range of €21.7 billion to €21.9 billion;
An Adjusted EBIT18 margin between 12.2% and 12.4%, up 40 to 60 basis points from 2024.
The Group also expects to maintain a high cash conversion ratio of between 95% and 100% in 2025.
Note: assuming no new major disruptions of macroeconomic and geopolitical context; including tariff increase.
Impact of new tax measures in France
Following the adoption of the 2025 budget, which introduces various tax changes, the impacts for the Thales Group are as follows:
An additional tax expense of ~€80 million related to the temporary additional corporate tax charge, giving rise to an additional tax of 41.2% in 2025, resulting in an overall tax rate of 36.13% (instead of the current rate of 25.83%);
~€8 million in taxes payable on share cancellations made in October 2024 as part of the share buyback program.
The temporary additional contribution to corporate tax for Naval Group could have a negative impact of around €8 million on Thales’ Adjusted EBIT in 2025.
These different impacts will represent an equivalent cash outflow in 2025.
****
This press release contains certain forward-looking statements. Although Thales believes that its expectations are based on reasonable assumptions, actual results may differ significantly from the forward-looking statements due to various risks and uncertainties, as described in the Company’s Universal Registration Document, which has been filed with the French financial markets authority (Autorité des marchés financiers – AMF).
1 In this press release, “organic” means “at constant scope and exchange rates”. See note on methodology on page 18 and calculation on page 23.
2 Non-GAAP financial indicators, see definitions in the appendices, page 18. The title “EBIT” has been amended to “Adjusted EBIT”, in accordance with ESMA’s recommendation.The definition remains unchanged.
3 Operating free cash flow from continuing operations, excluding the Transport activity sold on May 31, 2024.
4 Proposed to the Annual General Meeting on May 16, 2025.
5 Ratio of order intake to sales.
6 As at the date of this press release, the verification process on the sustainability information is ongoing. With the exception of the possible impact of the conclusions of this process, the audit procedures have been carried out. The audit report will be issued following the Board of Directors’ meeting on April 2, after the finalization of the procedures related to sustainability information.
7 Non-GAAP financial indicators, see definitions in the appendices, page 18.
8 Proposed to the Annual General Meeting on May 16, 2025.
9 Free operating cash flow from continuing operations, excluding the Transport activity sold on May 31, 2024.
10 Mature markets: Europe, North America, Australia, New Zealand; emerging markets: all other countries. See table on page 22.
11 Taking into account a currency effect of €49 million and a net scope effect of €625 million.
12 See table on page 22.
13 Mature markets: Europe, North America, Australia, New Zealand; emerging markets: all other countries. See table on page 22.
14 The calculation of the organic change in sales is shown on page 23.
15 See table on page 22.
16 Non-GAAP financial indicator, see definition in the appendices, page 18 and calculation, pages 20 and 21.
17 Non-GAAP financial indicator, see definition in the appendices, page 18.
18 The title “EBIT” has been amended to “Adjusted EBIT”, in accordance with ESMA’s recommendation.The definition remains unchanged.
Russian authorities have subjected Ukrainian prisoners of war (POWs) and civilian captives to torture, prolonged incommunicado detention, enforced disappearance and other inhumane treatment, which amount to war crimes and crimes against humanity, Amnesty International said in a new report today.
The report, A Deafening Silence: Ukrainians held incommunicado, forcibly disappeared and tortured in Russian captivity, documents how Ukrainian POWs and civilians held captive by Russia since February 2022 are being deliberately cut off from the outside world, often for years. A lack of transparency over their whereabouts has allowed for their torture and other ill-treatment in detention, and even unlawful killings of POWs, to continue with total impunity.
“Russia’s systemic incommunicado detention of Ukrainian POWs and civilians reflects a deliberate policy designed to dehumanize and silence them, leaving their families in agony as they wait for news about their loved ones,” said Amnesty International’s Secretary General, Agnès Callamard.
Russia’s systemic incommunicado detention of Ukrainian POWs and civilians reflects a deliberate policy designed to dehumanize and silence them, leaving their families in agony as they wait for news about their loved ones
Agnès Callamard, Amnesty International’s Secretary General
“Torture takes place in complete isolation from the outside world, with the victims entirely at the mercy of their captors for survival. This is not a series of isolated incidents – it is a systematic policy that violates every tenet of international law.”
Amnesty International’s report is based on interviews with 104 people in Ukraine between January and November 2024. These include five former Ukrainian POWs, family members of 38 POWs, family members of 23 Ukrainians “missing in special circumstances”, 28 formerly detained civilians and their families, and 10 Russian POWs currently detained in Ukraine.
Thousands of Ukrainians are currently held in captivity in Russia and occupied Ukraine, facing torture, enforced disappearance, and incommunicado detention
‘They beat me with stun guns, these special sticks, it was very painful. I saw how the guys started to die after that. Their hearts just couldn’t take it anymore’ – Volodymyr Shevchenko, former prisoner of war
‘Torture takes place in complete isolation from the outside world, with the victims entirely at the mercy of their captors for survival’ – Agnès Callamard
Russian authorities have subjected Ukrainian prisoners of war (POWs) and civilian captives to torture, prolonged incommunicado detention, enforced disappearance and other inhumane treatment, which amount to war crimes and crimes against humanity, Amnesty International said in a new report today.
The 32-page report – A Deafening Silence: Ukrainians held incommunicado, forcibly disappeared and tortured in Russian captivity – documents how Ukrainian POWs and civilians held captive by Russia since February 2022 are being deliberately cut off from the outside world, often for years. A lack of transparency over their whereabouts has allowed for their torture and other ill-treatment in detention, and even unlawful killings of POWs, to continue with total impunity.
Amnesty’s report is based on interviews with 104 people in Ukraine between January and November 2024. These include five former Ukrainian POWs, family members of 38 POWs, family members of 23 Ukrainians “missing in special circumstances”, 28 formerly detained civilians and their families, and 10 Russian POWs currently detained in Ukraine.
Darkness of not knowing
While their exact numbers are unknown, it is likely that thousands of Ukrainians, both military personnel and civilians, are currently held in captivity in Russia and occupied Ukraine. The majority of Ukrainian POWs are held incommunicado, with their families receiving little to no information about their fate, status or whereabouts.
At the same time, Russian authorities have denied international organisations access to them as part of a deliberate policy to put POWs beyond the protection of international law. Prolonged incommunicado detention may amount to inhuman treatment.
Olena Kolesnyk, whose husband Serhii was captured in July 2024, said the little information she had about his whereabouts was unofficial and unconfirmed. She told Amnesty:
“I won’t know where to look for my husband and where to write letters. This black darkness of not knowing – it’s killing me.”
The missing
Tens of thousands of Ukrainians are considered “missing in special circumstances” by Ukrainian authorities. Many are likely in detention, while others may have been killed. In some cases, Russia has acknowledged individual POWs’ captivity by notifying the International Committee of the Redcross as required by international law. However, it is likely that Russia has not notified the organisation of the status of hundreds or thousands more POWs.
Khrystyna Makarchuk’s husband Volodymyr appeared on Russian television describing how he was captured. In addition, a returned POW who knew Volodymyr personally confirmed to his family that he was in captivity. Yet Russia has not confirmed Volodymyr’s detention. Russia’s failure to acknowledge the detention of individuals like Khrystyna Makarchuk’s husband amounts to enforced disappearance.
Civilians also account for a considerable number of those believed to be subjected to enforced disappearance. Russia has long used arbitrary arrest, torture and enforced disappearance to intimidate the civilian population in areas it controls. Such acts amount to crimes against humanity.
Systemic torture and denial of medical treatment
Amnesty documented harrowing accounts of torture and denial of medical treatment in Russian captivity.
Volodymyr Shevchenko, a former POW who spent over two years in Russian captivity, said:
“They started torturing me right away. They beat me with stun guns, these special sticks, it was very painful. I saw how the guys started to die after that. Their hearts just couldn’t take it anymore.”
Serhii Koroma, a former Ukrainian POW who was badly wounded before being captured, reported that he was given no more than a topical antiseptic on one occasion and left to heal or die.
Violation of the laws of war
Russia’s actions blatantly violate the Geneva Conventions, which guarantee POWs the right to regular correspondence, access to medical care, and visits from international organisations.
Amnesty calls on Russia to stop its campaign of torture, enforced disappearance, and incommunicado detention against Ukrainians in captivity. Russian authorities must also notify the relevant authorities of the status of all its POWs and allow unhindered access to them for international humanitarian organisations. Russia must also ensure adequate medical care is provided to all Ukrainians in captivity and directly repatriate seriously sick and wounded POWs, including through establishing mixed medical commissions. Unlawfully detained civilians must be released.
Agnès Callamard, Amnesty International’s Secretary General, said:
“Russia’s systemic incommunicado detention of Ukrainian POWs and civilians reflects a deliberate policy designed to dehumanise and silence them, leaving their families in agony as they wait for news about their loved ones.
“Torture takes place in complete isolation from the outside world, with the victims entirely at the mercy of their captors for survival. This is not a series of isolated incidents – it is a systematic policy that violates every tenet of international law.
“The international community should use all its influence and tools, including universal jurisdiction, against Russia to stop these heinous crimes under international law and ensure accountability. Without justice, the suffering of Ukrainian POWs, civilians, and their families will only deepen.”
Noon Briefing by Stéphane Dujarric, Spokesperson for the Secretary-General.
Highlights:
– Secretary-General/Cairo Summit
– Gaza
– Occupied Palestinian Territory
– Syria
– Ukraine
– Democratic Republic of the Congo
– Human Rights
– Haiti
– Bangladesh
– Resident Coordinator – Madagascar
– World Wildlife Day
– Briefings
GAZA
Also, you will have seen that yesterday, in a statement we released, the Secretary-General urged all parties to make every effort to prevent a return to the hostilities in Gaza. He calls for humanitarian aid to flow back into Gaza immediately and for the release of all hostages.
Tom Fletcher, our Emergency Relief Coordinator, said that Israel’s decision to halt aid into Gaza is indeed alarming. He added that international humanitarian law is clear: we must be allowed access to deliver vital lifesaving aid. We need to get aid in and the hostages out, he said.
Earlier on the weekend, on Saturday, the Secretary-General, in a statement in which he noted that thousands of trucks carrying life-saving assistance had entered Gaza during the past six weeks, with aid having reached nearly every person in the Strip. And that statement was shared with you.
And he added that as Ramadan – a time of peace and reflection – begins, he calls on all sides to spare no efforts to end all violence. The UN stands ready to support all such endeavours.
OCCUPIED PALESTINIAN TERRITORY
And on the ground, since yesterday, the Kerem Shalom, Erez and Zikim crossings have been closed for cargo. This means that vital humanitarian assistance, including thousands of tents, remains undelivered.
The Spokesman told reporters that every weekday in this room, we have been very clear and provided updates from our colleagues from the Office for the Coordination of Humanitarian Affairs on how the ceasefire has allowed ourselves and our partners to scale up the delivery of life-saving assistance to the people of Gaza. The ceasefire has provided the opportunity to distribute food, to distribute water, as well as shelter assistance and medical aid, allowing nearly everyone in Gaza to receive food parcels.
Our humanitarian partners tell us that following the closure of the crossings into Gaza yesterday, flour and vegetable prices increased more than 100-fold. Partners are currently assessing the stocks that are currently available within the Gaza Strip.
Full Highlights: https://www.un.org/sg/en/content/noon-briefing-highlight?date%5Bvalue%5D%5Bdate%5D=03%20March%202025
Details 2025-02-24 President Lai meets Japanese House of Representatives Member Tamaki Yuichiro On the afternoon of February 24, President Lai Ching-te met with Japanese House of Representatives Member Tamaki Yuichiro. In remarks, President Lai noted that Taiwan and Japan are important trading partners. The president expressed hope that, in addition to semiconductors, Taiwan and Japan can also bolster cooperation in the fields of hydrogen energy and drones and build non-red supply chains, thus creating economic win-win situations and maintaining peace and stability in the Indo-Pacific region and globally. A translation of President Lai’s remarks follows: I would like to start by warmly welcoming Representative Tamaki on his first trip to Taiwan. Now is a key moment for the cooperative ties between Taiwan and Japan, and the fact that Representative Tamaki has chosen to take time out of his busy schedule to make this trip demonstrates his especially meaningful support for Taiwan. For this I want to express my deepest gratitude. At the beginning of this month, Japan and the United States held a summit meeting. In the post-summit joint leaders’ statement the government of Japan reiterated the importance of maintaining peace and stability across the Taiwan Strait, opposed any attempts to unilaterally change the status quo by force or coercion, and expressed support for Taiwan’s meaningful participation in international organizations. I would like to thank the government of Japan for these statements. Taiwan and Japan are both responsible members of the international community. I welcome an even firmer friendship between Japan and the US and hope to see cooperation among Taiwan, Japan, and the US become a solid force in consolidating peace and stability in the Indo-Pacific region. In addition to complex international conditions, we now also face the threat of China’s red supply chain. More and more countries are becoming increasingly concerned about such issues as economic security and supply chain resilience. As authoritarianism consolidates, democratic nations must also come closer in solidarity. Taiwan and Japan are important trading partners. I hope that, in addition to semiconductors, Taiwan and Japan can also bolster cooperation in the fields of hydrogen energy and drones, and that we can build non-red supply chains, thus creating economic win-win situations and maintaining peace and stability in the Indo-Pacific region and globally. Lastly, I would like once again to welcome Representative Tamaki to Taiwan and wish him a successful visit. I hope he departs Taiwan with a deep impression and that he will visit again. Representative Tamaki then delivered remarks, noting that this was his first visit to Taiwan and thanking President Lai and officials of the Taiwan government for their warm welcome. Pointing out that Taiwan-Japan ties are closer than ever thanks to the major efforts made on this front by President Lai since taking office, Representative Tamaki expressed his admiration and gratitude. Representative Tamaki pointed out that in a changing global landscape, Taiwan, Japan, and the Indo-Pacific region all face major changes, but he firmly believes that Taiwan-Japan relations will develop even further. Recalling President Lai’s previous remarks, the representative said that Japan and the US recently held a summit meeting that yielded important results. In the joint leaders’ statement, he noted, the two sides made a clear commitment regarding peace and stability across the Taiwan Strait and firmly opposed any attempts to unilaterally change the status quo by force or coercion. Representative Tamaki said that the ruling Liberal Democratic Party and the Komeito did not win a majority in last year’s House of Representatives general elections, while the number of seats held by his own Democratic Party for the People quadrupled. This result, he said, has filled him with a feeling of great responsibility. Moving forward, he intends to continue promoting Taiwan-Japan cooperation and strengthening relations. Also in attendance at the meeting was Japan-Taiwan Exchange Association Taipei Office Chief Representative Katayama Kazuyuki.
Details 2025-02-21 President Lai meets Abe Akie, wife of late Prime Minister Abe Shinzo of Japan On the morning of February 21, President Lai Ching-te met with Abe Akie, the wife of late Prime Minister Abe Shinzo of Japan. In remarks, President Lai thanked Mrs. Abe for carrying on the legacy of former Prime Minister Abe, being a benevolent and determined force for regional peace and prosperity, and calling on all parties to continue to place attention on peace in the Taiwan Strait. The president stated that Taiwan will carry on the legacy and spirit of former President Lee Teng-hui and former Prime Minister Abe, safeguard the values of freedom and democracy, and deepen the Taiwan-Japan friendship. A translation of President Lai’s remarks follows: Last May, Mrs. Abe came to Taiwan to attend the inauguration ceremony for myself and Vice President Bi-khim Hsiao, and we reminisced about the past here at the Presidential Office. I would like to warmly welcome her back today. I am also delighted to be meeting with all guests in attendance. Yesterday, Mrs. Abe and I attended the opening of the very first Halifax Taipei forum, for which Mrs. Abe also delivered a keynote speech earlier today. In her speech, she offered valuable input on global security and democratic development. I would like to thank Mrs. Abe for making this special trip to Taiwan to take part, showing her strong support for Taiwan. Former Prime Minister Abe pioneered the vision of a free and open Indo-Pacific, and called on the international community to pay attention to peace and stability in the Taiwan Strait and Indo-Pacific. These have become common strategic goals of democratic countries around the world and will have a far-reaching influence over international developments and Taiwan’s security. They were important contributions that former Prime Minister Abe made in regard to the Taiwan Strait and the Indo-Pacific region. Recently, current Prime Minister of Japan Ishiba Shigeru and United States President Donald Trump held a meeting and jointly reiterated the importance of peace and stability across the Taiwan Strait, as well as opposed unilateral changes to the status quo by force or coercion. They also expressed support for Taiwan’s participation in international organizations. This shows that Prime Minister Ishiba is furthering the legacy of former Prime Minister Abe. We are very grateful for the former prime minister’s friendship toward Taiwan, and to Mrs. Abe for carrying on his legacy. Mrs. Abe is a benevolent and determined force for regional peace and prosperity, and has called on all parties at numerous public venues to continue to place attention on peace in the Taiwan Strait. Last December, for instance, she traveled at the invitation of President Trump and his wife to the US, where she addressed cross-strait issues and spoke up for Taiwan. We were deeply moved by this. As authoritarian states continue to expand, Taiwan will keep working alongside like-minded nations such as Japan and the US, as well as the European Union, to jointly contribute to regional and global peace and prosperity. I look forward to continued advancement of regional peace and prosperity with the help of Mrs. Abe’s efforts. Mrs. Abe will also be meeting with daughter of former President Lee and Lee Teng-hui Foundation Chairperson Annie Lee (李安妮) tomorrow. Former President Lee and former Prime Minister Abe were both fully devoted to promoting Taiwan-Japan relations. We will carry on their legacy and spirit, safeguard the values of freedom and democracy, and deepen the Taiwan-Japan friendship. In closing, I wish you all a smooth and successful visit. Mrs. Abe then delivered remarks, first expressing her sincere thanks to President Lai for taking the time to meet. She said that former Prime Minister Abe hailed from Yamaguchi Prefecture, and that accompanying her that day were House of Councillors Member Kitamura Tsuneo, Yamaguchi Prefecture Governor Muraoka Tsugumasa, Yamaguchi Prefectural Assembly Deputy Speaker Shimata Noriaki, and many other important figures from Yamaguchi. If former Prime Minister Abe’s spirit could look upon this scene, she said, he would certainly be very pleased. Mrs. Abe recalled that when the former prime minister passed away, then-Vice President Lai traveled to their official residence to express his condolences and pay tribute. She said that she will never forget such a gesture of deep friendship, heartfelt condolences, and care. The year before last, she indicated, a memorial photo exhibition for former Prime Minister Abe was held in Taiwan, and many Taiwanese people from all walks of life came to view it. Last year, Mrs. Abe continued, she had the privilege of attending President Lai’s inauguration ceremony, where she met with many friends from Taiwan and personally felt the close and beautiful ties that Taiwan and Japan share. Mrs. Abe stated that she will carry out the wishes of former Prime Minister Abe and do her utmost to help raise Taiwan-Japan relations to new heights, saying that she looks forward to hearing the advice that President Lai and all those present have to offer. The delegation also included Japan-Taiwan Exchange Association Taipei Office Chief Representative Katayama Kazuyuki.
Details 2025-02-20 President Lai attends opening of 2025 Halifax Taipei forum On the afternoon of February 20, President Lai Ching-te attended the opening of the 2025 Halifax Taipei forum. In remarks, President Lai thanked the Halifax International Security Forum for their strong support for Taiwan, and for having chosen Taiwan as the first location outside North America to hold a forum. Noting that we face a complex global landscape, the president called on the international community to take action. He said that as authoritarianism consolidates, democratic nations must also come closer in solidarity, and called on the international community to create non-red global supply chains, as well as unite to usher in peace. President Lai emphasized that Taiwan will work toward maintaining peace and stability in the Taiwan Strait, and collaborate with democratic partners to form a global alliance for the AI chip industry and together greet a bright, new era. A transcript of President Lai’s remarks follows: To begin, I want to give a warm welcome to all the distinguished guests here at the very first Halifax Taipei forum. The Halifax International Security Forum, held every year in Canada, has been an important gathering for freedom-loving nations worldwide. I would like to thank Halifax and President [Peter] Van Praagh for their strong support for Taiwan. Every year since 2018, Taiwan has been invited to participate in the forum. Last year, former President Tsai Ing-wen was invited to speak, and this year, Halifax has chosen Taiwan as the first location outside North America to hold a forum. As President Van Praagh has said, “While the security challenges ahead are too big for any single country to solve alone, there is no challenge that can’t be met when the world’s democracies work together.” Today, we have world leaders and experts who traveled from afar to be here, showing that they value and support Taiwan. It demonstrates solidarity among democracies and the determination to take on challenges as one. I would like to express my gratitude and admiration to all of you for serving as defenders of freedom. At this very moment, Russia’s invasion of Ukraine is still ongoing. Authoritarian regimes including China, Russia, North Korea, and Iran continue to consolidate. China is hurting economies around the world through its dumping practices. We face grave challenges to global economic order, democracy, freedom, peace, and stability. Taiwan holds a key position on the first island chain, directly facing an authoritarian threat. But we will not be intimidated. We will stand firm and safeguard our national sovereignty, maintain our free and democratic way of life, and uphold peace and stability across the Taiwan Strait. Taiwan cherishes peace, but we also have no delusions about peace. We will uphold the spirit of peace through strength, using concrete actions to build a stronger Taiwan and bolster the free and democratic community. I sincerely thank the international community for continuing to attach importance to the situation in the Taiwan Strait. Recently, US President Donald Trump and Japan’s Prime Minister Ishiba Shigeru issued a joint leaders’ statement expressing their firm support for peace and stability across the Taiwan Strait, and for Taiwan’s participation in international affairs. As we face a complex global landscape, I call on the international community to take the following actions: First, as authoritarianism consolidates, democratic nations must also come closer in solidarity. Just a few days ago, the top diplomats of the US, Japan, and South Korea held talks, underlining the importance of maintaining peace and stability across the Taiwan Strait. They also conveyed their stance against “any effort to destabilize democratic institutions, economic independence, and global security.” On these issues, Taiwan will also continue to contribute its utmost. I recently announced that we will prioritize special budget allocations to ensure that our defense budget exceeds 3 percent of GDP. Soon after I assumed office last year, I formed the Whole-of-Society Defense Resilience Committee at the Presidential Office. This committee aims to combine the strengths of government and civil society to enhance our resilience in national defense, economic livelihoods, disaster prevention, and democracy. We will also deepen our strategic partnerships in the democratic community to mutually increase defense resilience, demonstrate deterrence, and achieve our goal of peace throughout the world. Second, let’s create non-red global supply chains. For the democratic community to deter the expansion of authoritarianism, it must have strong technological capabilities. These can serve as the backbone of national defense, promote industrial development, and enhance economic resilience. So, in addressing China’s red supply chain and the impact of its dumping, Taiwan is willing and able to work with global democracies to maintain the technological strengths among our partners and build resilient non-red supply chains. As a major semiconductor manufacturing nation, Taiwan will introduce an initiative on semiconductor supply chain partnerships for global democracies. We will collaborate with our democratic partners to form a global alliance for the AI chip industry and establish democratic supply chains for industries connected to high-end chips. The achievements of today’s semiconductor industry in Taiwan can be attributed to our collective efforts. Government, industry, academia, and research institutions had to overcome various challenges over the last 50 years for us to secure this position. We hope Taiwan can serve as a base for linking the capabilities of our democratic partners so that each can play a suitable role in the semiconductor industry chain and develop its own strengths, deepening our mutually beneficial cooperation in technology. This benefits all of us. Moreover, it allows us to further enhance deterrence and maintain global security. Third, let’s unite to usher in peace. China has not stopped intimidating Taiwan politically and militarily. Last year, China launched several large-scale military exercises in the Taiwan Strait. Its escalation of gray-zone aggression now poses a grave threat to the peace and stability of the Indo-Pacific region. As a responsible member of the international community, Taiwan will maintain the status quo. We will not seek conflict. Rather, we are willing to engage in dialogue with China, under the principles of parity and dignity, and work toward maintaining peace and stability in the Taiwan Strait. As the agenda of this forum suggests, democracy and freedom create more than just opportunities; they also bring resilience, justice, partnerships, and security. Taiwan will continue working alongside its democratic partners to greet a bright, new era. Once again, a warm welcome to all of you. I wish this forum every success. Thank you. Also in attendance at the event were Mrs. Abe Akie, wife of the late former Prime Minister Abe Shinzo of Japan, and Halifax International Security Forum President Van Praagh.
Details 2025-02-18 President Lai meets British-Taiwanese All-Party Parliamentary Group delegation On the morning of February 18, President Lai Ching-te met with a delegation from the British-Taiwanese All-Party Parliamentary Group (APPG). In remarks, President Lai thanked the delegation members, the Parliament of the United Kingdom, and the UK government for continuing to demonstrate support for Taiwan through a variety of means. He also stated that Taiwan-UK relations have advanced significantly in recent years, noting that the Taiwan-UK Enhanced Trade Partnership (ETP) is the first institutionalized economic and trade framework signed between Taiwan and any European country. The president said he looks forward to continuing to deepen Taiwan-UK relations and jointly maintaining regional and global peace and stability, and indicated that together, we can create win-win developments for both Taiwan and the UK and Taiwan and European nations. A translation of President Lai’s remarks follows: This is the first UK parliamentary delegation of the current session to visit Taiwan. On behalf of the people of Taiwan, I extend my sincerest welcome to you all. APPG Chair Sarah Champion visited Taiwan last May to attend the inauguration ceremony of myself and Vice President Bi-khim Hsiao. In July, she also attended the annual summit of the Inter-Parliamentary Alliance on China (IPAC), which was held in Taipei. I am delighted that we are meeting once again. Taiwan-UK relations have advanced significantly in recent years. I would especially like to thank our distinguished guests, as well as the UK Parliament and government, for continuing to demonstrate support for Taiwan through a variety of means. For example, the House of Commons held a debate on Taiwan’s international status last November. After the debate, a motion was unanimously passed affirming that United Nations General Assembly (UNGA) Resolution 2758 does not mention Taiwan. Responding to the motion, Parliamentary Under-Secretary of State Catherine West stated that the UK opposes any attempt to broaden the interpretation of the resolution to rewrite history. This highlighted concrete progress in Taiwan-UK bilateral relations. I would also like to thank the UK Parliament and government for openly opposing on multiple occasions any unilateral change to the status quo across the Taiwan Strait, and for emphasizing that the security of the Indo-Pacific and transatlantic regions is closely intertwined. We look forward to continuing to deepen Taiwan-UK relations and jointly maintaining regional and global peace and stability. Together, we can create win-win developments for both Taiwan and the UK and Taiwan and European nations. For example, the Taiwan-UK ETP is the first institutionalized economic and trade framework signed between Taiwan and any European country. We hope to swiftly conclude negotiations on signing sub-arrangements on investment, digital trade, and energy and net-zero transition. This will facilitate even more exchanges and cooperation between Taiwan and the UK. We also hope that the UK will continue to support Taiwan’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. Together, we can build even more resilient global supply chains and further contribute to global prosperity and development. I believe that this visit adds to a strong and solid foundation for future Taiwan-UK cooperation. Thank you once again for backing Taiwan. I wish you a fruitful and successful visit. Chair Champion then delivered remarks, thanking President Lai for his warm welcome and for the hospitality he has shown to her and the delegation, and thanking Taiwan’s excellent team of officials for their care and attention. Chair Champion expressed that she thinks the IPAC conference held in Taiwan at the end of July last year was very significant, with legislators from 23 countries coming to show support for Taiwan, adding that that is something they have built on since the conference. She stated that she is also very proud that the UK Parliament supported the motion which made very clear that UNGA Resolution 2758 is specific to China and only to China, expressing that it was important and powerful that they recognize that. The chair went on to say that after the UK’s general election, more than half of the members of parliament are now new. She said she is very proud that there are new MPs as part of the delegation, and that she hopes it gives President Lai reassurance that their commitment to Taiwan is still there. Chair Champion emphasized that the all-party group is important because it is indeed all-party, and that they work together for their common interests, stating that the common interest for the UK and for the world is to maintain Taiwan’s sovereignty. She also noted that the United States has now come out very much in support of Taiwan, which she said she hopes encourages other countries around the world to do the same. Chair Champion said that the UK will be going into the 27th trade negotiation with Taiwan, and that they hope the partnership that develops is very fruitful. The chair closed by saying that it is wonderful for the delegation to be meeting President Lai, as well as legislators and ministers, and to be understanding more about the culture of Taiwan so that they can build a deeper, longer-lasting friendship. The delegation also included Lord Purvis of Tweed of the House of Lords and Members of Parliament Ben Spencer, Helena Dollimore, Noah Law, and David Reed. The delegation was accompanied to the Presidential Office by Political and Communications Director at the British Office in Taipei Natasha Harrington.
Details 2025-02-17 President Lai meets former United States Deputy National Security Advisor Matthew Pottinger On the morning of February 17, President Lai Ching-te met with a delegation led by former United States Deputy National Security Advisor Matthew Pottinger. In remarks, President Lai thanked the delegation for demonstrating staunch support for Taiwan through their visit. The president pointed out that increased cooperation between authoritarian regimes is posing risks and challenges to the geopolitical landscape and regional security. He emphasized that only by bolstering our defense capabilities can we demonstrate effective deterrence and maintain peace and stability across the Taiwan Strait and around the world. The president stated that moving forward, Taiwan will continue to enhance its self-defense capabilities. He also expressed hope of strengthening the Taiwan-US partnership and jointly building secure and resilient non-red supply chains so as to ensure that Taiwan, the US, and democratic partners around the world maintain a technological lead. A translation of President Lai’s remarks follows: I am delighted to welcome our good friends Mr. Pottinger and retired US Rear Admiral Mr. Mark Montgomery to Taiwan once again. Last June, Mr. Pottinger and Mr. Ivan Kanapathy came to Taiwan to launch their new book The Boiling Moat. During that visit, they also visited the Presidential Office. We held an extensive exchange of views on Taiwan-US relations and regional affairs right here in the Taiwan Heritage Room. Now, as we meet again eight months later, I am pleased to learn that Mr. Kanapathy is now serving on the White House National Security Council. The Mandarin translation of The Boiling Moat is also due to be released in Taiwan very soon. This book offers insightful observations from US experts regarding US-China-Taiwan relations and valuable advice for the strengthening of Taiwan’s national defense, security, and overall resilience. I am sure that Taiwanese readers will benefit greatly from it. I understand that this is Mr. Montgomery’s fourth visit to Taiwan and that he has long paid close attention to Taiwan-related issues. I look forward to an in-depth discussion with our two friends on the future direction of Taiwan-US relations and cooperation. Increased cooperation between authoritarian regimes is posing risks and challenges to the geopolitical landscape and regional security. One notion we all share is peace through strength. That is, only by bolstering our defense capabilities and fortifying our defenses can we demonstrate effective deterrence and maintain peace and stability across the Taiwan Strait and around the world. Moving forward, Taiwan will continue to enhance its self-defense capabilities. We also hope to strengthen the Taiwan-US partnership in such fields as security, trade and the economy, and energy. In addition, we will advance cooperation in critical and innovative technologies and jointly build secure and resilient non-red supply chains. This will ensure that Taiwan, the US, and democratic partners around the world maintain a technological lead. We believe that closer Taiwan-US exchanges and cooperation not only benefit national security and development but also align with the common economic interests of Taiwan and the US. I want to thank Mr. Pottinger and Mr. Montgomery once again for visiting and for continuing to advance Taiwan-US exchanges, demonstrating staunch support for Taiwan. Let us continue to work together to deepen Taiwan-US relations. I wish you a smooth and fruitful visit. Mr. Pottinger then delivered remarks, first congratulating President Lai on his one-year election anniversary and on the state of the economy, which, he added, is doing quite well. Mentioning President Lai’s recent statement pledging to increase Taiwan’s defense budget to above 3 percent of GDP, Mr. Pottinger said he thinks that the benchmark is equal to what the US spends on its defense and that it is a good starting point for both countries to build deterrence. Echoing the president’s earlier remarks, Mr. Pottinger said that peace through strength is the right path for the US and for Taiwan right now at a moment when autocratic, aggressive governments are on the march. He then paraphrased the words of former US President George Washington in his first inaugural address, saying that the best way to keep the peace is to be prepared at all times for war, which captures the meaning of peace through strength. In closing, he said he looks forward to exchanging views with President Lai.
Details 2025-02-14 President Lai holds press conference following high-level national security meeting On the morning of February 14, President Lai Ching-te convened the first high-level national security meeting of the year, following which he held a press conference. In remarks, President Lai announced that in this new year, the government will prioritize special budget allocations to ensure that Taiwan’s defense budget exceeds 3 percent of GDP. He stated that the government will also continue to reform national defense, reform our legal framework for national security, and advance our economic and trade strategy of being rooted in Taiwan while expanding globally. The president also proposed clear-cut national strategies for Taiwan-US relations, semiconductor industry development, and cross-strait relations. President Lai indicated that he instructed the national security and administrative teams to take swift action and deliver results, working within a stable strategic framework and according to the various policies and approaches outlined. He also instructed them to keep a close watch on changes in the international situation, seize opportunities whenever they arise, and address the concerns and hope of the citizens with concrete actions. He expressed hope that as long as citizens remain steadfast in their convictions, are willing to work hand in hand, stand firm amidst uncertainty, and look for ways to win within changing circumstances, Taiwan is certain to prevail in the test of time yet again. A translation of President Lai’s remarks follows: First, I would like to convey my condolences for the tragic incident which occurred at the Shin Kong Mitsukoshi department store in Taichung, which resulted in numerous casualties. I have instructed Premier Cho Jung-tai (卓榮泰) to lead the relevant central government agencies in assisting Taichung’s municipal government with actively resolving various issues regarding the incident. It is my hope that these issues can be resolved efficiently. Earlier today, I convened this year’s first high-level national security meeting. I will now report on the discussions from the meeting to all citizens. 2025 is a year full of challenges, but also a year full of hope. In today’s global landscape, the democratic world faces common threats posed by the convergence of authoritarian regimes, while dumping and unfair competition from China undermine the global economic order. A new United States administration was formed at the beginning of the year, adopting all-new strategies and policies to address challenges both domestic and from overseas. Every nation worldwide, including ours, is facing a new phase of changes and challenges. In face of such changes, ensuring national security, ensuring Taiwan’s indispensability in global supply chains, and ensuring that our nation continues to make progress amidst challenges are our top priorities this year. They are also why we convened a high-level national security meeting today. At the meeting, the national security team, the administrative team led by Premier Cho, and I held an in-depth discussion based on the overall state of affairs at home and abroad and the strategies the teams had prepared in response. We summed up the following points as an overall strategy for the next stage of advancing national security and development. First, for overall national security, so that we can ensure the freedom, democracy, and human rights of the Taiwanese people, as well as the progress and development of the nation as we face various threats from authoritarian regimes, Taiwan must resolutely safeguard national sovereignty, strengthen self-sufficiency in national defense, and consolidate national defense. Taiwan must enhance economic resilience, maintain economic autonomy, and stand firm with other democracies as we deepen our strategic partnerships with like-minded countries. As I have said, “As authoritarianism consolidates, democratic nations must come closer in solidarity!” And so, in this new year, we will focus on the following three priorities: First, to demonstrate our resolve for national defense, we will continue to reform national defense, implement whole-of-society defense resilience, and prioritize special budget allocations to ensure that our defense budget exceeds 3 percent of GDP. Second, to counter the threats to our national security from China’s united front tactics, attempts at infiltration, and cognitive warfare, we will continue with the reform of our legal framework for national security and expand the national security framework to boost societal resilience and foster unity within. Third, to seize opportunities in the restructuring of global supply chains and realignment of the economic order, we will continue advancing our economic and trade strategy of being rooted in Taiwan while expanding globally, strengthening protections for high-tech, and collaborating with our friends and allies to build supply chains for global democracies. Everyone shares concern regarding Taiwan-US relations, semiconductor industry development, and cross-strait relations. For these issues, I am proposing clear-cut national strategies. First, I will touch on Taiwan-US relations. Taiwan and the US have shared ideals and values, and are staunch partners within the democratic, free community. We are very grateful to President Donald Trump’s administration for their continued support for Taiwan after taking office. We are especially grateful for the US and Japan’s joint leaders’ statement reiterating “the importance of maintaining peace and stability across the Taiwan Strait as an indispensable element of security and prosperity for the international community,” as well as their high level of concern regarding China’s threat to regional security. In fact, the Democratic Progressive Party government has worked very closely with President Trump ever since his first term in office, and has remained an international partner. The procurement of numerous key advanced arms, freedom of navigation critical for security and stability in the Taiwan Strait, and many assisted breakthroughs in international diplomacy were made possible during this time. Positioned in the first island chain and on the democratic world’s frontline countering authoritarianism, Taiwan is willing and will continue to work with the US at all levels as we pursue regional stability and prosperity, helping realize our vision of a free and open Indo-Pacific. Although changes in policy may occur these next few years, the mutual trust and close cooperation between Taiwan and Washington will steadfastly endure. On that, our citizens can rest assured. In accordance with the Taiwan Relations Act and the Six Assurances, the US announced a total of 48 military sales to Taiwan over the past eight years amounting to US$26.265 billion. During President Trump’s first term, 22 sales were announced totaling US$18.763 billion. This greatly supported Taiwan’s defensive capabilities. On the foundation of our close cooperation with the past eight years’ two US administrations, Taiwan will continue to demonstrate our determination for self-defense, accelerate the bolstering of our national defense, and keep enhancing the depth and breadth of Taiwan-US security cooperation, along with all manner of institutional cooperation. In terms of bilateral economic cooperation, Taiwan has always been one of the US’s most reliable trade partners, as well as one of the most important cooperative partners of US companies in the global semiconductor industry. In the past few years, Taiwan has greatly increased both direct and indirect investment in the US. By 2024, investment surpassed US$100 billion, creating nearly 400,000 job opportunities. In 2023 and 2024, investment in the US accounted for over 40 percent of Taiwan’s overall foreign investment, far surpassing our investment in China. In fact, in 2023 and 2024, Taiwanese investment in China fell to 11 percent and 8 percent, respectively. The US is now Taiwan’s biggest investment target. Our government is now launching relevant plans in accordance with national development needs and the need to establish secure supply systems, and the Executive Yuan is taking comprehensive inventory of opportunities for Taiwan-US economic and trade cooperation. Moving forward, close bilateral cooperation will allow us to expand US investment and procurement, facilitating balanced trade. Our government will also strengthen guidance and support for Taiwanese enterprises on increasing US investment, and promote the global expansion and growth of Taiwan’s industries. We will also boost Taiwan-US cooperation in tech development and manufacturing for AI and advanced semiconductors, and work together to maintain order in the semiconductor market, shaping a new era for our strategic economic partnership. Second, the development of our semiconductor industry. I want to emphasize that Taiwan, as one of the world’s most capable semiconductor manufacturing nations, is both willing and able to address new situations. With respect to President Trump’s concerns about our semiconductor industry, the government will act prudently, strengthen communications between Taiwan and the US, and promote greater mutual understanding. We will pay attention to the challenges arising from the situation and assist businesses in navigating them. In addition, we will introduce an initiative on semiconductor supply chain partnerships for global democracies. We are willing to collaborate with the US and our other democratic partners to develop more resilient and diversified semiconductor supply chains. Leveraging our strengths in cutting-edge semiconductors, we will form a global alliance for the AI chip industry and establish democratic supply chains for industries connected to high-end chips. Through international cooperation, we will open up an entirely new era of growth in the semiconductor industry. As we face the various new policies of the Trump administration, we will continue to uphold a spirit of mutual benefit, and we will continue to communicate and negotiate closely with the US government. This will help the new administration’s team to better understand how Taiwan is an indispensable partner in the process of rebuilding American manufacturing and consolidating its leadership in high-tech, and that Taiwan-US cooperation will benefit us both. Third, cross-strait relations. Regarding the regional and cross-strait situation, Taiwan-US relations, US-China relations, and interactions among Taiwan, the US, and China are a focus of global attention. As a member of the international democratic community and a responsible member of the region, Taiwan hopes to see Taiwan-US relations continue to strengthen and, alongside US-China relations, form a virtuous cycle rather than a zero-sum game where one side’s gain is another side’s loss. In facing China, Taiwan will always be a responsible actor. We will neither yield nor provoke. We will remain resilient and composed, maintaining our consistent position on cross-strait relations: Our determination to safeguard our national sovereignty and protect our free and democratic way of life remains unchanged. Our efforts to maintain peace and stability in the Taiwan Strait, as well as our willingness to work alongside China in the pursuit of peace and mutual prosperity across the strait, remain unchanged. Our commitment to promoting healthy and orderly exchanges across the strait, choosing dialogue over confrontation, and advancing well-being for the peoples on both sides of the strait, under the principles of parity and dignity, remains unchanged. Regarding the matters I reported to the public today, I have instructed our national security and administrative teams to take swift action and deliver results, working within a stable strategic framework and according to the various policies and approaches I just outlined. I have also instructed them to keep a close watch on changes in the international situation, seize opportunities whenever they arise, and address the concerns and hope of the citizens with concrete actions. My fellow citizens, over the past several years, Taiwan has weathered a global pandemic and faced global challenges, both political and economic, arising from the US-China trade war and Russia’s invasion of Ukraine. Through it all, Taiwan has persevered; we have continued to develop our economy, bolster our national strength, and raise our international profile while garnering more support – all unprecedented achievements. This is all because Taiwan’s fate has never been decided by the external environment, but by the unity of the Taiwanese people and the resolve to never give up. A one-of-a-kind global situation is creating new strategic opportunities for our one-of-a-kind Taiwanese people, bringing new hope. Taiwan’s foundation is solid; its strength is great. So as long as everyone remains steadfast in their convictions, is willing to work hand in hand, stands firm amidst uncertainty, and looks for ways to win within changing circumstances, Taiwan is certain to prevail in the test of our time yet again, for I am confident that there are no difficulties that Taiwan cannot overcome. Thank you.
Navigating the challenges in a complex environment7 min read
We are in the midst of rapid technological advancements, shifting regulatory and political landscapes, evolving social expectations and visible impacts of climate change. In this context, Australian companies and their directors and officers are navigating an increasingly complex, inter-connected and unpredictable risk environment.
Key takeaways
As part of our ongoing CPD Series, Allens hosted a discussion with Christine Holman, a senior non-executive director with over 30 years of experience, on the emerging risks boards and management are facing in 2025. The session highlighted several key issues that are expected to shape the year ahead.
Geopolitical uncertainty is an increasingly prominent feature of the international landscape, threatening global supply chains and operational stability.
Inflation will continue to trouble economies around the world, spilling across borders and putting a strain on business financial performance.
Cyber incidents have escalated in frequency, scale, sophistication and severity.
Climate change is having increasingly tangible impacts on the natural environment in which Australian businesses operate.
Reputational issues tie directly to company value as they are scrutinised under a media spotlight of higher political, regulatory and social expectations.
Technological advancements are occurring faster than ever, requiring businesses to adapt quickly to respond to new opportunities whilst managing the risks they present.
The discussion also touched on the practical steps companies can take to navigate these risks, not only to avoid exposure to downside scenarios, but to capitalise on the opportunities that lie ahead.
Geopolitical uncertainty
In recent years—and indeed just these last few days—there have been growing challenges to the post-World War II, rules-based world order, which has given way to increasing geopolitical instability around the world.
Prolonged military conflicts have significantly impacted civilian populations through displacement, loss of life and heightened instability, whilst more broadly resulting in actions such as sanctions and supply disruptions. In addition, the rise of protectionist and nationalistic ideologies is now seeing the return of tariffs and pullback from previously settled global trade relationships. In this evolving environment, Australian businesses will need to remain vigilant given the importance of our trade relationship with China and our close security ties with the United States.
In addition, as we move towards a federal election this year, there is the potential for these forces to manifest in domestic regulatory and economic policy settings as our politicians react to these global trends.
Our experience has been that good governance, regular risk assessments and scenario planning, and appropriate management structures, assist to navigate these geopolitical challenges.
Prolonged inflation
At the same time, many economies including Australia have been experiencing pronounced and persistent inflation following global events such as the COVID-19 pandemic and the conflicts in Ukraine and the Middle East. These conditions have caused significant cost-of-living pressure at the individual household level, which is projected across the broader economy in the form of reduced demand and heightened uncertainty for businesses.
In an environment like this, we see best practice involving companies seeking to plan for all scenarios. This often involves stress testing financial models and, if possible, looking to diversify supply chains to reduce exposure to economic fluctuations.
Cybersecurity
In 2024, the Australian Signals Directorate saw a cybercrime being recorded every six minutes. The growing frequency of major incidents in recent years has put a spotlight on the cyber vulnerabilities of Australian businesses and the huge consequences they can have for customers and shareholders.
Cybersecurity has become a critical business continuity issue, though not all those in senior positions in Australian companies have experience in responding to cyber incidents. To bridge this gap, boards and senior management should be kept abreast of the relevant issues in this area both within and outside the company. Cyber strategies should not just be in place but be understood, and boards should challenge and validate the information they are given by management to test and assess these strategies where they see fit. This includes seeking out opportunities to learn from prominent examples in the market and undertaking live simulation exercises to test preparedness.
Climate change
Although climate change has been on the agenda for quite some time, it is an area that continues to evolve. Recent legislative reforms mean that certain Australian companies will soon publish their first mandatory sustainability reports. At the same time, we are seeing some stakeholders around the world signal a retreat from environmental initiatives and commitments, even as the physical effects of climate change continue to manifest in communities globally.
Companies will need to be ready to comply with regulations in this space as they are introduced and, as part of good business planning, take steps to identify and mitigate their exposure to climate-related risks. From a risk mitigation perspective, this is particularly pertinent in Australia given it is the second-most popular jurisdiction globally for climate change litigation.
Reputational matters
Although a company’s reputation has always had intrinsic value, that value has become more tangible and apparent through the significant disruption and real financial consequences that some companies have felt when their reputation has come under the spotlight.
Through this lens, there is an increasing sensitivity amongst customers and stakeholders to incidents or behaviour within companies that—whilst not necessarily illegal—falls below public expectations. Perceived shortcomings, whether justified or not, have seen some companies suffer significant loss in shareholder value, even if the financial performance of the company was otherwise sound.
This focus has placed a spotlight on the role of the board in embedding and enforcing cultural expectations within the workplace.
Artificial intelligence
The continued development and adoption of artificial intelligence tools in the workplace has the potential to be one of the most important developments in the way we work in our lifetime. Companies that do not adapt quickly enough risk a competitive disadvantage, whilst those overly keen to embrace it need to ensure they understand the inherent risks in the technology and are attuned to the regulatory requirements and ethical considerations that flow from it.
Understanding AI’s capabilities and limitations in the context of a specific business is critical, and key in informing the scale and pace at which the company should move. Companies are well placed to navigate these considerations where they foster a culture of lightweight R&D amongst their own people, including by investing in AI literacy at all levels of the organisation right up to the board.
Responding to emerging risks
Given the potential for emerging risks to evolve quickly and unpredictably, including those outlined above, managing these issues presents a formidable challenge, especially when directors and management are already grappling with significant responsibilities.
With this in mind, we have seen companies position themselves to succeed when they do the following:
Prioritise the information flowing to directors and streamline the issues they are being asked to consider and the decisions they are required to make. Information should be presented clearly and succinctly, so that directors can be confident they are getting the right information to make decisions and allocating their time appropriately across different issues.
A management structure with clear allocation of responsibilities provides confidence that risks—including new ones—will be identified at the appropriate level and that they will be escalated and addressed as necessary. A good management structure is one which is explicit and transparent in its decision-making processes. It avoids relying on a leap of faith in the sufficiency of general policies and routine processes to adequately address more nuanced issues.
Emerging risks can be highly complex and, by their very nature, involve new frontiers in dealing with issues that may be non-core or unfamiliar to the business. This underscores the importance of ongoing training programs and educational sessions for the board geared towards emerging risks and refreshing newer skills like digital and technology literacy. At the management level, it is necessary to consider the appropriateness of organisational structures and reporting lines to ensure they account for emerging risks. This could involve investing in personnel with expertise in particular areas of increasing prominence, such as cybersecurity and geopolitical strategy, who are equipped to execute strategy in practice, day to day.
What’s next?
Managing risk well can create opportunities as strategies and decisions play out in the global corporate landscape. We can expect all stakeholders—including regulators—to continue to keep a close eye on how Australian companies fare in 2025.
The significance and complexity of a company’s emerging risk profile may be a daunting prospect to think about in abstract, but being informed and proactive are important early steps in identifying and managing these issues. When focusing on risks, it is instinctive to focus on possible downsides—however, the other side of the coin is the enormous opportunities that can be realised when strategies and decisions allow the company to effectively navigate these challenges.
Details 2024-12-10 President Lai attends 2024 Asia Democracy and Human Rights Award ceremony On the morning of December 10, President Lai Ching-te presented the 2024 Asia Democracy and Human Rights Award to Bangladesh-based human rights organization Odhikar. In his remarks, President Lai recognized Odhikar’s dedication to promoting the human and political rights of the citizens of Bangladesh and courageously forging ahead in the pursuit of democracy and human rights. The president emphasized that defending democracy requires all the strength we can muster. He stated that the government of Taiwan will continue its efforts to strengthen Taiwan’s ability to defend democracy, and deepen partnerships with various countries to make global democracy more resilient. A translation of President Lai’s remarks follows: First, on behalf of the people of Taiwan, I want to offer sincere congratulations to Bangladesh-based human rights organization Odhikar, winner of the 2024 Asia Democracy and Human Rights Award. The Taiwan Foundation for Democracy (TFD) upholds that in Taiwan, human rights are a pillar of the nation. The TFD established the Asia Democracy and Human Rights Award in 2006, and thanks to the leadership of its successive chairmen and presidents, this award has now become one of Asia’s highest honors. And under the leadership of Chairman Han Kuo-yu (韓國瑜), it will continue to strengthen Taiwan’s links with the world. This award recognizes individuals or groups that have promoted democracy and defended human rights in Asia, and also conveys the values that Taiwan upholds. Recipients of this award, just like Odhikar, have fought valiantly for freedom and human rights. Since its founding in 1994, Odhikar has been dedicated to promoting the human and political rights of the citizens of Bangladesh. The organization not only provides oversight and promotes accountability, but also publishes an annual human rights report that exposes neglected human rights abuses, so that unjust practices hidden in darkness can be brought to light. Members of Odhikar’s team have long faced severe difficulties while conducting human rights work, including harassment, imprisonment, and surveillance. Nevertheless, all have maintained an indomitable fighting spirit, courageously forging ahead in the pursuit of democracy and human rights, which is truly admirable. Taiwan, like Bangladesh, has experienced the suppression and coercion of authoritarian rule. But thanks to the dedication of many democracy activists and defenders of human rights, the people of Taiwan now enjoy a free and democratic way of life, and can use their ballots to determine the future of their own country. Taiwan is now a vibrant democratic society on the frontline of the defense of democracy. In recent years, disinformation and cognitive warfare have become challenges for all democracies. Through the Global Cooperation and Training Framework (GCTF), Taiwan has continuously expanded cooperation with various partner countries, exchanging experiences and strategies to counter disinformation. In September this year, for example, a GCTF overseas workshop was held in Lithuania for the first time, exploring how to deal with foreign information manipulation and interference during elections. Looking ahead, the government of Taiwan will continue its efforts to strengthen our ability to defend democracy, and deepen our partnerships with various countries to make global democracy more resilient. I also want to emphasize that defending democracy requires all the strength we can muster. So today, on Human Rights Day, I am honored to congratulate Odhikar in person, and thank you all for sharing your ideas and experiences with Taiwan’s society to forge an even greater force for progress. I look forward to a world with more civil society organizations like Odhikar to strengthen the bulwarks of freedom and human rights, and I firmly believe that into the future, your courageous convictions will be carried forward here in Taiwan. Let’s continue our efforts. Members of the foreign diplomatic corps stationed in Taiwan were also in attendance at the event.
Details 2024-05-10 President Tsai attends 2024 Human Rights Press Awards ceremony On the evening of May 10, President Tsai Ing-wen attended the 2024 Human Rights Press Awards ceremony. In her remarks, President Tsai thanked the media for reporting on and bringing awareness to many important human rights issues. The president stated that Taiwan remains committed to advancing human rights. In 2019, she said, Taiwan became the first Asian country to legalize same-sex marriage, and in the following year, we established the National Human Rights Commission to better monitor and secure human rights protections at home. The president also stated that in 2022, Taiwan rolled out our first National Human Rights Action Plan, and in February, the Executive Yuan passed the UN International Convention for the Protection of All Persons from Enforced Disappearance, marking another major milestone for Taiwan’s human rights development, achieved by our people and government working together. President Tsai stated that Taiwan now is rated as one of the freest countries when it comes to press freedom, and is an important hub for international media. This growing presence of international journalists, she said, is evidence that Taiwan is a country where transparency, freedom of expression, and easy access to information are ensured. The president said she is looking forward to Taiwan continuing to be the home for free press in Asia, and that Taiwan will continue to stand up for democracy, freedom, and human rights, and endeavor to build a world where all can live in dignity. A transcript of President Tsai’s remarks follows: It is my pleasure to join you all today at this important awards ceremony to congratulate the recipients of the Human Rights Press Awards. I am also happy about the fact that this event is being held in Taiwan for the very first time. Your presence here is testament to Taiwan’s hard work on safeguarding media freedom and human rights. This event is also a demonstration to the world just how deeply Taiwan values these important pillars of democracy. I would like to thank the organizers of this event: Human Rights Watch, the Walter Cronkite School of Journalism and Mass Communication at Arizona State University, the foreign correspondents’ clubs of Taiwan and Thailand, and the Reynolds Center for Business Journalism. I applaud you for taking up this important mission of maintaining this award at a time when journalists are under unprecedented pressure and repression in carrying out their duties. Tonight, I want to congratulate the recipients of the Human Rights Press Awards. Congratulations to you all, and thank you for reporting on, and bringing awareness to many important human rights issues. This includes the persecution of religious minorities in Myanmar, the rising number of suicides among Afghan women living under Taliban rule, and the Chinese government’s treatment of White Paper protesters, who stood up against COVID-19 lockdowns. In an era of rising authoritarianism, with an increasing number of autocratic leaders and disinformation campaigns, your role as journalists in exposing the truth is more critical than ever. And through a variety of forms, such as writing, photography, video, audio, and multimedia, your courage and effort not only inspire us. You also help raise awareness in the international community, and prompt us to take action to tackle these pressing human rights issues. More importantly, by exposing injustices, you give hope to those whose stories that you told. In Taiwan, we experienced the injustices of authoritarian rule, under nearly four decades of martial law. Some even sacrificed their lives for media freedom. Through our hard work, Taiwan now is rated as one of the freest countries when it comes to press freedom. In Freedom House’s report on Freedom in the World this year, Taiwan scored 94 out of 100. Under the Civil Liberties category, Taiwan received a perfect score for Freedom of Expression and Belief. Our news media is described as “generally free, reflecting a diversity of views and reporting aggressively on government policies.” Of course, in a critical way. According to the Economist Intelligence Unit’s Democracy Index 2023, Taiwan ranked 10th in the world and first in Asia, and was one of only 24 countries in the world evaluated as a “full democracy.” And, in this year’s World Press Freedom Index by Reporters Without Borders, Taiwan ranked 27th in the world, rising eight spots from last year. Despite these achievements, in recent years, there have been authoritarian forces targeting the freedom we have worked so hard to achieve. We found that there are constant attempts from authoritarian forces to influence our media environment. There are also well-funded, large-scale disinformation campaigns making extensive use of internal and external propaganda to influence Taiwan’s democracy. The freedoms enjoyed by Taiwanese citizens on the internet, media, and social media are now being utilized to erode Taiwan’s democracy. Eleven years in a row, Taiwan has exceeded every other country in the world, on the amount of false information disseminated within its borders by other governments, according to the research by V-Dem. There are several goals of such campaigns. They want to further polarize our society, pitting citizens against one another. They also want to erode trust in democratic institutions and government officials. They aggressively promote the narrative that democracy is chaotic and inefficient. Such disinformation campaigns have become one of the most difficult challenges for democracies like Taiwan. Moreover, the rise of AI has benefited all of us. On the other hand, this rise has also allowed disinformation to be generated and distributed at an unprecedented rate. This makes deterring it much more difficult. This also makes defending our right to know the facts all the more important. A democracy has limited means to deal with disinformation campaigns. This is out of the concern of causing harm to freedom of speech, if measures are taken to limit, restrict, or control the free flow of information. In Taiwan, in order to counter disinformation campaigns, we encourage all parts of our society to act together. As timeliness and transparency are keys to an effective defense against disinformation, the Taiwanese government holds news briefings and releases real-time official clarifications on a regular basis. Taiwan’s vibrant civil society also contributes quite a lot to combat disinformation. Some publish thoroughly researched and detailed reports on disinformation campaigns. They also identify playbooks on authoritarian information manipulation. This is accompanied by media literacy lesson plans and offering education to citizens. The civil tech community has also developed chatbots for chat applications to make fact-checking much easier. Other than countering information warfare from authoritarian regimes, Taiwan remains committed to advancing human rights. In 2019, we became the first Asian country to legalize same-sex marriage. The following year, we established the National Human Rights Commission to better monitor and secure human rights protections at home. And in 2022, we rolled out our first National Human Rights Action Plan, with the aim of continually improving human rights standards. Although Taiwan is not a member of the United Nations (UN), we have voluntarily incorporated six international covenants on human rights into domestic law, and issued national reports on their implementation. In February, the Executive Yuan passed the UN International Convention for the Protection of All Persons from Enforced Disappearance. This marked another major milestone for Taiwan’s human rights development, achieved by our people and government working together. As the result of our work on safeguarding freedom, Taiwan is now an important hub for international media. In recent years, we have received increasing numbers of resident correspondents and visiting journalists from international media agencies. As of last month, Taiwan is home to 176 correspondents from 86 media outlets originating in 22 countries – this is roughly double the figure from 2016. This growing presence of international journalists is evidence that Taiwan is a country where transparency, freedom of expression, and easy access to information are ensured. I am proud and looking forward to Taiwan continuing to be the home for free press in Asia. Despite the new and growing challenges in the region, Taiwan will continue to stand up for democracy, freedom, and human rights. Now more than ever, it is essential that we unite and support one another, as we address these challenges together and endeavor to build a world where all can live in dignity. I want to close by thanking you all again for joining me to honor the recipients of the Human Rights Press Awards. At a time when many journalists in Asia and from around the world must put their safety at risk for doing their job, you have our utmost respect for your professionalism and courage. Once again, congratulations to all the award-winners. Also in attendance at the event were European Economic and Trade Office Head Filip Grzegorzewski and British Office Taipei Representative John Dennis.
Details 2024-04-17 President Tsai delivers remarks at International Holocaust Remembrance Day event On the afternoon of April 17, President Tsai Ing-wen attended an International Holocaust Remembrance Day event and delivered remarks, in which she said that unity is imperative in combating hatred and developing understanding. The president stated that as we are confronted with the growing threats of terrorism and authoritarianism, Taiwan has been taking initiatives, through collaboration with our international partners, to enhance regional religious freedom, to fight against discrimination, and to promote equality. She stated that Taiwan will continue to be a strong advocate for human rights and democracy, so we can leave the world a better place for future generations. Upon arrival, President Tsai took in a musical performance and watched as a rabbi recited a prayer before joining other distinguished guests to light candles in memory of the Holocaust’s victims. A transcript of President Tsai’s remarks follows: I would like to begin by thanking the Israel Economic and Cultural Office (ISECO) in Taipei, the German Institute Taipei, the Ministry of Foreign Affairs, and the Taiwan Foundation for Democracy for co-organizing this important event. I also want to thank you all for making time to come here today to remember those who lost their lives in the Holocaust. We are also here to pay tribute to those who survived, and to acknowledge the sufferings of all who were affected by this dark chapter of human history. I also want to take a moment to acknowledge Mr. Peter Gaspar, who is joining us virtually today. I am grateful for his participation in this year’s event and for sharing his harrowing experience with all of us. Every year, we come here together to remember those who perished in the Holocaust, as well as those who endured unimaginable sufferings because of this tragedy. We must pledge to never forget this period in history, when human dignity was cast aside for political ideology. We should also never stop fighting against discrimination and bigotry. We must also be reminded that there are still countless people who continue to suffer at the hands of authoritarian regimes and dictatorships, just because they are of different ethnic origin, gender, sexual orientation, religion, or political ideology. In other words, there is still much work needed to be done. In the pursuit of justice and truth, we can learn from Israel and Germany – Israel in its efforts to preserve the historical accounts of the Holocaust, especially its victims, and Germany in its courage to face the past. In Taiwan, we have been working to ensure that we address the injustices of the past and uncover the truth of atrocities in the authoritarian era. In addition to the annual commemoration of the 228 Incident, my government has built a solid foundation for the realization of transitional justice. We elevated transitional justice as a priority at the highest government level. The Executive Yuan established government bodies to further emphasize the values of transitional justice in policy implementation. The newly amended Political Archives Act came into effect this year, on the 77th anniversary of the 228 Incident. This is an important element in my government’s effort to restore truth in the pursuit of transitional justice. We hope this will further help bring some closure and comfort to the victims of the White Terror era and their families. Even though we have come quite a long way on upholding human rights and fighting against bigotry, the world must continue to confront antisemitism and authoritarian aggression. We are also seeing the horrifying effects of such aggressions in Ukraine and in Hamas’ terroristic attack on Israel. This is why we stress the importance of working alongside the international community to safeguard what we fought so hard to achieve, that is, democracy, freedom, equality, and peace. As part of our collaborative efforts, starting from 2021, the Israel office here, our Ministry of Education’s human rights resource center, and Yad Vashem, Israel’s World Holocaust Remembrance Center, co-organized workshops and held traveling exhibitions to raise awareness on the history of the Holocaust. We also continue to donate to Yad Ezer Lechaver, an NGO that works with our representative office in Tel Aviv, to help provide daily necessities to Holocaust survivors. Through collaboration with our international partners, Taiwan has been proactively taking initiatives to enhance regional religious freedom, to fight against discrimination, and to promote equality. Taiwan will continue to be a strong advocate for human rights and democracy. History has taught us time and again that unity is imperative in combating hatred and developing understanding. As we are confronted with the growing threats of terrorism and authoritarianism, it is even more important that we work together, so we can leave the world a better place for future generations. We owe it to the memory of those who lost their precious lives to a tragedy like the Holocaust and those who sacrificed themselves to protect the value of democracy. We should also remind ourselves to remain vigilant, while we reaffirm our vow to not let this tragedy happen again. In closing, I want to thank everyone for taking part in this meaningful event, and for keeping the names and stories of the victims of the Holocaust living in our memory. Also in attendance at the event were Chair of the Knesset Taiwan friendship group Boaz Toporovsky, ISECO Representative Maya Yaron, and German Institute Taipei Director General Jörg Polster.
Details 2024-02-28 President Tsai attends ceremony marking 77th anniversary of 228 Incident On the morning of February 28, in Chiayi County, President Tsai Ing-wen attended the nation’s main memorial ceremony marking the 77th anniversary of the 228 Incident. The president offered a floral wreath in memory of the victims, and stated that over the past eight years the government has worked systematically to advance work in transitional justice, pointing out that it has completed four fact-finding investigation reports to restore historical truths and has helped victims to restore their reputations and receive compensation. She said that nearly 2,000 applications for compensation have been accepted for processing, and the government has already paid out a total of more than NT$4 billion in compensation. The government’s effort last year to pass an amendment to the Political Archives Act saw support from both the ruling and opposition parties, she said, and that amendment enters into force today. The president emphasized that transitional justice is not intended to be directed at any particular political party. Rather, she said, it is that the government in a democratic system must take responsibility for illegal acts committed by the state during an earlier period of authoritarian rule and make amends for past harms. She said that honestly facing up to our history is the only way Taiwan’s democratic institutions can become more deeply rooted and continue to evolve. Emphasizing that there is no shortcut to transitional justice, and that scars in the memory do not easily fade, the president said that our generation must take concrete action to find ways to peacefully coexist with history and build an even more open society. She said that to face the past, we must not forget the past, much less fear to remember it; and to face the future, we must continue to deepen our discussions as we pursue a more democratic, sustainable social community. A translation of the president’s remarks follows: The February 28 Incident filled the people of Taiwan with a desire for democracy and freedom, but authoritarianism and heavy-handed rule stymied the seeds of democracy and ushered in the White Terror era. This difficult period of the past left a scar on Taiwan’s history. To help this scar to heal, we must first understand the nature of the wound. Until we honestly face facts and listen to one other, we cannot close our wounds and reach the genuine reconciliation that ends our history being a cause of division in Taiwan. Once we do this, the people of Taiwan will be better able to join together in defense of democracy and move forward together. Over the past eight years, we have worked systematically to advance work in transitional justice. In the area of legislative action, we began with reinforcing the foundation for transitional justice by amending the Act Governing the Settlement of Ill-gotten Properties by Political Parties and Their Affiliate Organizations, the Act on Promoting Transitional Justice, the Organizational Act of the National Human Rights Museum, the Political Archives Act, and the Act to Restore Victim’s Rights Infringed by Illegal Acts of the State During the Period of Authoritarian Rule. We have also established specialized organizations and mechanisms that form the engine moving our transitional justice project forward. Now that the Transitional Justice Commission has completed its mission, the Executive Yuan is coordinating the efforts of six central government agencies that have taken over the task of implementing transitional justice work. Building on this foundation, our government has completed four fact-finding investigation reports to restore historical truths, and we have amended legislation to improve the handling of political archives and ill-gotten assets in the possession of political parties. From the ill-gotten party assets that have been appropriated by the state, a special fund has been established to support public welfare and transitional justice-related work. We have also helped victims restore their reputations and receive compensation. Nearly 2,000 applications for compensation have been accepted for processing by the Restoration of Victim’s Rights Infringed by Illegal Acts of the State During the Period of Authoritarian Rule Foundation since it was established over a year ago. Last year, for the first time ever, our government returned property to a victim from whom it had been illegally confiscated by the state during the period of authoritarian rule. In total, the government has already paid out more than NT$4 billion in compensation. Transitional justice is not intended to be directed at any particular political party. Rather, it is that the government in a democratic system must take responsibility for illegal acts committed by the state during an earlier period of authoritarian rule and make amends for past harms. Honestly facing up to our history is the only way Taiwan’s democratic institutions can become more deeply rooted and continue to evolve. After years of hard work, the 228 Memorial Foundation has identified 2,340 victims of the 228 Incident, and has additionally identified more than 4,000 possible victims. In a short while, acting on behalf of the government, I will be awarding “certificates of restored reputation” to the family members of several victims of the 228 Incident. Two of these individuals had originally been classified as “possible victims,” but after historical archives were made available for public access it was confirmed that they had indeed been victims. Our experience in this case showed us that there remain more historical truths for the government to help bring to light. This is why the government saw support from both the ruling and opposition parties last year when it worked to pass an amendment to the Political Archives Act. That amendment did pass, and it enters into force today. Political archives provide many important pieces in the puzzle of our historical past, so I would like to ask our national security officials to adopt an open-minded attitude. I would like for them to declassify more political archives and make them publicly accessible to the greatest possible extent. Our transitional justice work encompasses truth, justice, reparation, memorialization, and, most importantly, guarantees of non-recurrence. These are the five internationally recognized pillars of transitional justice. We have also seen different sectors of Taiwanese society contribute to transitional justice, each in its own way. In Search of a Mixed Identity, a film about a victim of the 228 Incident, will premiere next month, and the Gongsheng Music Festival, which is held annually to commemorate the incident, marked its 12th year in 2024. I want to thank the many civil society organizations and young people who have worked so long and hard to further the cause of transitional justice. You have given of yourselves for the nation, providing fresh tinder to keep the torch of democracy alight and keep it glowing ever stronger. I must also thank the Executive Yuan, the Transitional Justice Commission, the Ill-Gotten Party Assets Settlement Committee, and the various central government agencies and civil society organizations that have accompanied us on this undertaking every step of the way. Together we have worked on behalf of those who suffered the indignities of the 228 Incident and the White Terror era so that they can put the darkness behind them. But I know full well that our efforts pale in comparison to what the victims and their family members have been through. There is no shortcut to transitional justice, and scars in the memory do not easily fade. Our generation must take concrete action to find ways to peacefully coexist with history and build an even more open society. I have spoken with the Executive Yuan about the three points that Chiang Jung-sen (江榮森) just raised. As a matter of fact, these three points are related to issues the Executive Yuan is actively addressing right now, and I am confident that the Executive Yuan will come forward with public statements at the proper times. These matters are all part of the government’s work, and we will continue doing our best to address them. To face the past, we must not forget the past, much less fear to remember it. To face the future, we must continue to deepen our discussions as we pursue a more democratic, sustainable social community.
Details 2023-12-07 President Tsai attends 2023 Asia Democracy and Human Rights Award ceremony On the morning of December 7, President Tsai Ing-wen presented the 2023 Asia Democracy and Human Rights Award to Amihan Abueva, regional executive director of the Child Rights Coalition Asia (CRC Asia). In remarks, President Tsai recognized Ms. Abueva’s long-term contributions to advocacy for the rights of children in her battle against all forms of child violence. The president pointed out that Taiwan has endeavored for nearly a decade now to incorporate international standards for the rights of the child into domestic law to ensure more protections for children’s rights. The president said that Taiwan will remain vigilant to protect our hard-earned democracy, freedom, and human rights, and by doing so, help further entrench the rights of the child here and globally. A transcript of President Tsai’s remarks follows: Today, I would like to begin by congratulating Ms. Amihan Abueva on receiving this year’s Asia Democracy and Human Rights Award, established by the Taiwan Foundation for Democracy. Ms. Abueva has been a powerful advocate for the rights of children in her decades-long battle against all forms of child violence, especially trafficking and sexual exploitation. Throughout her career, she has epitomized selflessness and courage, tirelessly fighting to secure a safer world for our children and our future. Whether in her former roles as executive secretary and president of ECPAT International [End Child Prostitution, Child Pornography and Trafficking of Children for Sexual Purposes], or in her current position as the regional executive director of the Child Rights Coalition of Asia, Ms. Abueva has pushed for more child participation, in society and in policy-making for child welfare. She has also contributed to the strengthening of the relevant legal framework at the national and international levels. As she once said, “Children’s rights are everybody’s business.” Ms. Abueva has also played an important role in government efforts by serving as Philippine representative to the ASEAN Commission on the Rights of Women and Children. And her leadership today at CRC Asia has helped connect child rights organizations throughout Asia, including our own Child Welfare League Foundation in Taiwan. The network she built has brought the public sector and private society together to work toward the improvement of children’s rights. While advocating her cause, Ms. Abueva has also devoted herself to awareness raising, through speeches and reading materials, helping both adults and children see the warning signs so that they can prevent trafficking from taking place. Throughout her storied career, her mission has remained the same: to protect children, their rights, and their future, by giving them a voice and making sure their stories are heard. Taiwan also strives to do its part to protect our children and their rights. As with most rights advocacy, we owe our thanks to our civil society in spearheading grassroots efforts and working in coordination with the government. And a crucial part of that is making sure we have sound legislation. For nearly a decade now, we have endeavored to incorporate international standards for the rights of the child into domestic law. In 2014 we passed legislation to bring the principles of the 1989 United Nations Convention on the Rights of the Child (UNCRC), the most ratified human rights treaty in history, into our own legal framework. And to bring Taiwan more in compliance with the UNCRC, we hold discussions and reviews on our implementation efforts, which help us formulate future policy and further protect the rights of children. To date, we have submitted two national reports, each followed by a review meeting. To these, we invite international experts to discuss the state of children’s rights in Taiwan with our government agencies and NGOs. Most importantly, and as Ms. Abueva has long championed, children and the youth are represented in these meetings to ensure that they have a voice in the protection of their own rights. Aside from overarching legislation, we want to ensure that children’s rights are covered by relevant laws. Under these laws, Taiwan has not only addressed traditional forms of violence done to children, in both home and school environments; we have also taken a forward-looking approach to prevent novel forms of child violence. With the addition to our Criminal Code of a chapter on offense against sexual privacy this year, we aim to protect the sexual privacy of every individual in the digital age. And this is particularly beneficial for children and young people, a large and vulnerable demographic of Internet users. As proclaimed in the UNCRC, children are entitled to the very rights set forth in the Universal Declaration of Human Rights. With this in mind, Taiwan will remain vigilant to protect our hard-earned democracy, freedom, and human rights, and by doing so, help further entrench the rights of the child here and globally. Once again, I extend my sincere congratulations to Ms. Abueva, and thank her for her selfless efforts. With the inspiration of such outstanding advocates as Ms. Abueva, I look forward to more people joining forces in the fight to protect the rights of the most vulnerable. Members of the foreign diplomatic corps in Taiwan were also in attendance at the event.
Details 2025-02-14 President Lai holds press conference following high-level national security meeting On the morning of February 14, President Lai Ching-te convened the first high-level national security meeting of the year, following which he held a press conference. In remarks, President Lai announced that in this new year, the government will prioritize special budget allocations to ensure that Taiwan’s defense budget exceeds 3 percent of GDP. He stated that the government will also continue to reform national defense, reform our legal framework for national security, and advance our economic and trade strategy of being rooted in Taiwan while expanding globally. The president also proposed clear-cut national strategies for Taiwan-US relations, semiconductor industry development, and cross-strait relations. President Lai indicated that he instructed the national security and administrative teams to take swift action and deliver results, working within a stable strategic framework and according to the various policies and approaches outlined. He also instructed them to keep a close watch on changes in the international situation, seize opportunities whenever they arise, and address the concerns and hope of the citizens with concrete actions. He expressed hope that as long as citizens remain steadfast in their convictions, are willing to work hand in hand, stand firm amidst uncertainty, and look for ways to win within changing circumstances, Taiwan is certain to prevail in the test of time yet again. A translation of President Lai’s remarks follows: First, I would like to convey my condolences for the tragic incident which occurred at the Shin Kong Mitsukoshi department store in Taichung, which resulted in numerous casualties. I have instructed Premier Cho Jung-tai (卓榮泰) to lead the relevant central government agencies in assisting Taichung’s municipal government with actively resolving various issues regarding the incident. It is my hope that these issues can be resolved efficiently. Earlier today, I convened this year’s first high-level national security meeting. I will now report on the discussions from the meeting to all citizens. 2025 is a year full of challenges, but also a year full of hope. In today’s global landscape, the democratic world faces common threats posed by the convergence of authoritarian regimes, while dumping and unfair competition from China undermine the global economic order. A new United States administration was formed at the beginning of the year, adopting all-new strategies and policies to address challenges both domestic and from overseas. Every nation worldwide, including ours, is facing a new phase of changes and challenges. In face of such changes, ensuring national security, ensuring Taiwan’s indispensability in global supply chains, and ensuring that our nation continues to make progress amidst challenges are our top priorities this year. They are also why we convened a high-level national security meeting today. At the meeting, the national security team, the administrative team led by Premier Cho, and I held an in-depth discussion based on the overall state of affairs at home and abroad and the strategies the teams had prepared in response. We summed up the following points as an overall strategy for the next stage of advancing national security and development. First, for overall national security, so that we can ensure the freedom, democracy, and human rights of the Taiwanese people, as well as the progress and development of the nation as we face various threats from authoritarian regimes, Taiwan must resolutely safeguard national sovereignty, strengthen self-sufficiency in national defense, and consolidate national defense. Taiwan must enhance economic resilience, maintain economic autonomy, and stand firm with other democracies as we deepen our strategic partnerships with like-minded countries. As I have said, “As authoritarianism consolidates, democratic nations must come closer in solidarity!” And so, in this new year, we will focus on the following three priorities: First, to demonstrate our resolve for national defense, we will continue to reform national defense, implement whole-of-society defense resilience, and prioritize special budget allocations to ensure that our defense budget exceeds 3 percent of GDP. Second, to counter the threats to our national security from China’s united front tactics, attempts at infiltration, and cognitive warfare, we will continue with the reform of our legal framework for national security and expand the national security framework to boost societal resilience and foster unity within. Third, to seize opportunities in the restructuring of global supply chains and realignment of the economic order, we will continue advancing our economic and trade strategy of being rooted in Taiwan while expanding globally, strengthening protections for high-tech, and collaborating with our friends and allies to build supply chains for global democracies. Everyone shares concern regarding Taiwan-US relations, semiconductor industry development, and cross-strait relations. For these issues, I am proposing clear-cut national strategies. First, I will touch on Taiwan-US relations. Taiwan and the US have shared ideals and values, and are staunch partners within the democratic, free community. We are very grateful to President Donald Trump’s administration for their continued support for Taiwan after taking office. We are especially grateful for the US and Japan’s joint leaders’ statement reiterating “the importance of maintaining peace and stability across the Taiwan Strait as an indispensable element of security and prosperity for the international community,” as well as their high level of concern regarding China’s threat to regional security. In fact, the Democratic Progressive Party government has worked very closely with President Trump ever since his first term in office, and has remained an international partner. The procurement of numerous key advanced arms, freedom of navigation critical for security and stability in the Taiwan Strait, and many assisted breakthroughs in international diplomacy were made possible during this time. Positioned in the first island chain and on the democratic world’s frontline countering authoritarianism, Taiwan is willing and will continue to work with the US at all levels as we pursue regional stability and prosperity, helping realize our vision of a free and open Indo-Pacific. Although changes in policy may occur these next few years, the mutual trust and close cooperation between Taiwan and Washington will steadfastly endure. On that, our citizens can rest assured. In accordance with the Taiwan Relations Act and the Six Assurances, the US announced a total of 48 military sales to Taiwan over the past eight years amounting to US$26.265 billion. During President Trump’s first term, 22 sales were announced totaling US$18.763 billion. This greatly supported Taiwan’s defensive capabilities. On the foundation of our close cooperation with the past eight years’ two US administrations, Taiwan will continue to demonstrate our determination for self-defense, accelerate the bolstering of our national defense, and keep enhancing the depth and breadth of Taiwan-US security cooperation, along with all manner of institutional cooperation. In terms of bilateral economic cooperation, Taiwan has always been one of the US’s most reliable trade partners, as well as one of the most important cooperative partners of US companies in the global semiconductor industry. In the past few years, Taiwan has greatly increased both direct and indirect investment in the US. By 2024, investment surpassed US$100 billion, creating nearly 400,000 job opportunities. In 2023 and 2024, investment in the US accounted for over 40 percent of Taiwan’s overall foreign investment, far surpassing our investment in China. In fact, in 2023 and 2024, Taiwanese investment in China fell to 11 percent and 8 percent, respectively. The US is now Taiwan’s biggest investment target. Our government is now launching relevant plans in accordance with national development needs and the need to establish secure supply systems, and the Executive Yuan is taking comprehensive inventory of opportunities for Taiwan-US economic and trade cooperation. Moving forward, close bilateral cooperation will allow us to expand US investment and procurement, facilitating balanced trade. Our government will also strengthen guidance and support for Taiwanese enterprises on increasing US investment, and promote the global expansion and growth of Taiwan’s industries. We will also boost Taiwan-US cooperation in tech development and manufacturing for AI and advanced semiconductors, and work together to maintain order in the semiconductor market, shaping a new era for our strategic economic partnership. Second, the development of our semiconductor industry. I want to emphasize that Taiwan, as one of the world’s most capable semiconductor manufacturing nations, is both willing and able to address new situations. With respect to President Trump’s concerns about our semiconductor industry, the government will act prudently, strengthen communications between Taiwan and the US, and promote greater mutual understanding. We will pay attention to the challenges arising from the situation and assist businesses in navigating them. In addition, we will introduce an initiative on semiconductor supply chain partnerships for global democracies. We are willing to collaborate with the US and our other democratic partners to develop more resilient and diversified semiconductor supply chains. Leveraging our strengths in cutting-edge semiconductors, we will form a global alliance for the AI chip industry and establish democratic supply chains for industries connected to high-end chips. Through international cooperation, we will open up an entirely new era of growth in the semiconductor industry. As we face the various new policies of the Trump administration, we will continue to uphold a spirit of mutual benefit, and we will continue to communicate and negotiate closely with the US government. This will help the new administration’s team to better understand how Taiwan is an indispensable partner in the process of rebuilding American manufacturing and consolidating its leadership in high-tech, and that Taiwan-US cooperation will benefit us both. Third, cross-strait relations. Regarding the regional and cross-strait situation, Taiwan-US relations, US-China relations, and interactions among Taiwan, the US, and China are a focus of global attention. As a member of the international democratic community and a responsible member of the region, Taiwan hopes to see Taiwan-US relations continue to strengthen and, alongside US-China relations, form a virtuous cycle rather than a zero-sum game where one side’s gain is another side’s loss. In facing China, Taiwan will always be a responsible actor. We will neither yield nor provoke. We will remain resilient and composed, maintaining our consistent position on cross-strait relations: Our determination to safeguard our national sovereignty and protect our free and democratic way of life remains unchanged. Our efforts to maintain peace and stability in the Taiwan Strait, as well as our willingness to work alongside China in the pursuit of peace and mutual prosperity across the strait, remain unchanged. Our commitment to promoting healthy and orderly exchanges across the strait, choosing dialogue over confrontation, and advancing well-being for the peoples on both sides of the strait, under the principles of parity and dignity, remains unchanged. Regarding the matters I reported to the public today, I have instructed our national security and administrative teams to take swift action and deliver results, working within a stable strategic framework and according to the various policies and approaches I just outlined. I have also instructed them to keep a close watch on changes in the international situation, seize opportunities whenever they arise, and address the concerns and hope of the citizens with concrete actions. My fellow citizens, over the past several years, Taiwan has weathered a global pandemic and faced global challenges, both political and economic, arising from the US-China trade war and Russia’s invasion of Ukraine. Through it all, Taiwan has persevered; we have continued to develop our economy, bolster our national strength, and raise our international profile while garnering more support – all unprecedented achievements. This is all because Taiwan’s fate has never been decided by the external environment, but by the unity of the Taiwanese people and the resolve to never give up. A one-of-a-kind global situation is creating new strategic opportunities for our one-of-a-kind Taiwanese people, bringing new hope. Taiwan’s foundation is solid; its strength is great. So as long as everyone remains steadfast in their convictions, is willing to work hand in hand, stands firm amidst uncertainty, and looks for ways to win within changing circumstances, Taiwan is certain to prevail in the test of our time yet again, for I am confident that there are no difficulties that Taiwan cannot overcome. Thank you.
Following last week’s Trump-Zelensky White House clash, more than a dozen Western leaders gathered Sunday to revive efforts for a Ukraine peace deal and propose a settlement to Washington.
British Prime Minister Keir Starmer described the summit as a “once-in-a-generation moment for the security of Europe.” Although the meeting could push the region toward greater self-reliance in security, many observers fear the measures may be too little and too late.
Wake-up call
Europe now finds itself at a moment of truth in its security strategy. Before Friday’s diplomatic debacle at the White House, Russia-U.S. talks on the Ukraine crisis took place in Riyadh on Feb. 18, with neither Europe nor Ukraine given a seat at the table.
This photo shows a scene during a defense summit in London, Britain, March 2, 2025. [Photo/Lauren Hurley/No. 10 Downing Street handout via Xinhua]
Just one week later, U.S. President Donald Trump announced a plan to impose a 25-percent tariff on all goods imported from the European Union (EU), and justified the move by claiming that the EU was formed to “screw” the United States.
Europe was in a “moment of real fragility,” Starmer told the BBC’s Sunday with Laura Kuenssberg.
Asked about the White House clash involving the duo of Trump and U.S. Vice President JD Vance and Ukrainian President Volodymyr Zelensky, Finnish President Alexander Stubb told BBC before the summit that the breakdown was a “wake-up call” for European nations, stressing that they must adopt a cohesive strategy for the Ukraine crisis and post-conflict arrangements.
Stubb expressed frustration over shifting transatlantic ties, saying the U.S.-Europe relationship “is evolving,” and “we’re witnessing a more transactional United States, where the Trump administration — rightly or wrongly — is pursuing an ‘America First’ policy.”
This has led European leaders to explore their own security solutions. At the Munich Security Conference last month, European Commission President Ursula von der Leyen pushed for an emergency clause that would allow governments to increase defense spending without being constrained by the EU’s strict budget deficit rules. After Sunday’s summit, she reiterated that Europe must “step up massively” and forge a common security approach.
French President Emmanuel Macron proposed on Sunday that European countries should boost their defense spending to between 3 and 3.5 percent of gross domestic product (GDP). His proposal came a few days after Starmer’s announcement that Britain would increase its defense spending to 2.5 percent of its GDP by 2027 and to 3 percent in the next parliamentary term, which would mean by 2034 at the latest.
Following a bilateral meeting with Ukraine on Saturday, Britain also agreed to loan Ukraine 2.26 billion pounds (2.84 billion U.S. dollars) to bolster its defense capabilities. Shortly after the summit, Britain further committed 1.6 billion pounds (2 billion dollars) in export finance, allowing Ukraine to purchase over 5,000 air defense missiles.
More than eight years after Britain voted to depart from the EU, it has positioned itself at the forefront of European security efforts, trying to play the role of a “bridge” between Europe and the United States to secure a peace deal for Ukraine.
Strengthened bond
After Sunday’s summit, Starmer outlined a four-step plan to strengthen Ukraine and support peace: to maintain military aid to Ukraine while the conflict continues and increase economic pressure on Russia; to ensure that any lasting peace guarantees Ukraine’s sovereignty and security, with Ukraine at the table for any negotiations; to deter “any future invasion by Russia” in the event of a peace deal; and to establish a “coalition of the willing” to defend Ukraine and uphold peace in the country.
The summit’s outcome was welcomed by European leaders. NATO Secretary General Mark Rutte called it “a good meeting,” saying “European countries are stepping up to ensure Ukraine has what it needs to fight for as long as necessary.”
German Chancellor Olaf Scholz emphasized the importance of NATO and said on social media on Sunday: “In recent years, we have strengthened our alliance with new members and increased defense spending. This is the path we will continue to follow.”
However, doubts remain over whether Europe can fully safeguard a peace deal on its own. When asked how Britain plans to persuade more countries to join the “coalition of the willing,” Starmer acknowledged that some countries may be reluctant to contribute militarily.
“I strongly feel that unless some countries move forward, we will stay in the position we’re in and not be able to move forward,” he said, while admitting the goal to “stay in lockstep with the United States.”
Transatlantic disagreements
The EU and the Trump administration have a range of disagreements on the settlement of the Ukraine crisis, while the U.S. provision of security guarantees for Ukraine is foremost among the discussions.
Within a week before the London summit, both Macron and Starmer visited Washington to seek U.S. security guarantees for Ukraine or Europe, but failed to persuade Trump in this regard.
U.S. President Donald Trump (2nd L) welcomes Ukrainian President Volodymyr Zelensky (2nd R) at the White House in Washington, D.C., the United States, on Feb. 28, 2025. [Photo/Xinhua]
Trump sidestepped the question of security guarantees, expressing confidence that his Russian counterpart, Vladimir Putin, would “keep his word” if an agreement is reached. He also ruled out the possibility of Ukraine joining NATO. Ukraine’s NATO membership has been a focal issue in the crisis.
Earlier on Sunday before the summit, Starmer announced that Britain, France and Ukraine will work on a ceasefire plan to present to the United States. He named three essential points to achieve “lasting peace” — a strong Ukraine, a European element with security guarantees and a U.S. backstop, with the last one being the subject of “intense” discussion.
After the announcement of the four-step plan to guarantee peace in Ukraine at the summit, the participating leaders also agreed to meet again soon to sustain the momentum behind these efforts.
“Europe must do the heavy lifting,” Starmer said, emphasizing that the agreement needs U.S. backing.
Iain Begg, a research fellow at the London School of Economics and Political Science, told Xinhua, “The real question is whether this will be enough to sway the White House. We’ve seen time and again that Washington can reverse its stance overnight.”
Also on Sunday, Macron told a French newspaper that he was “trying to make Washington understand that disengaging from Ukraine is not in America’s interest.”
While the summit has pushed Europe toward greater security commitments, the region still faces divisions over whether to deploy troops to Ukraine under a peacekeeping framework.
For now, some major European countries, including Germany, Spain and Poland, remain hesitant to commit troops to Ukraine, with Britain and France taking the lead in potentially sending military forces.
Meanwhile, the EU is still in the early stages of developing a defense budget plan. Some experts noted that Europe’s efforts to build its own defense capabilities may still have a long way to go.
David Galbreath, a professor of international security at the University of Bath, pointed to the U.S. military’s capabilities: “The U.S. provides far sharper military capabilities, such as long-range strikes, sophisticated anti-tank systems and advanced surface-to-air missiles, than anything coming from Europe.”
Source: The White House
class=”has-text-align-center”>Roosevelt Room
2:38 P.M. EST
THE PRESIDENT: Hello, everybody. Thank you very much.
Thank you very much. This is a very big day for a lot of reasons, but this gentleman is a very unique man. I think I can say, in the world of chips, certainly, but in the world pretty much of business, nobody has done what he’s done. For those of you that are into that world, you would say, “Wow, he’s a legend.” But he is a legend. And it’s an honor to be with you. Very great honor. Thank you very much.
MR. WEI: Thank you, Mr. President.
THE PRESIDENT: Thank you very much.
Welcoming, from TSMC — which is the biggest there is, at a level that you can’t even calculate, frankly — C.C. Wei, to the White House for a very historic announcement. This is a tremendous thing for our country and, hopefully, for his company.
We’re also pleased to be joined by Commerce Secretary Howard Lutnick and White House AI and crypto czar, David Sacks, another two very highly respected people. It’s great to have you guys involved. And, David, thank you very much for coming on.
David is sort of the king of intellect in that world. We have some good people. Today, Taiwan Semiconductor is announcing that they will be investing at least $100 billion dollars in new capital in the United States over the next short period of time to build state-of-the-art semiconductor manufacturing facilities. I think, mostly, it’s going to be in Arizona, which is what I understand, which is a great state. I like it because I won it. But I won most of them — (laughs) — actually. So — but I did. We won it, and we won it big.
The most powerful AI chips in the world will be made right here in America, and it’ll be a big percentage of the chips made by his company. But, as you know, they’re based mostly in Taiwan. And they’re far and away the biggest. There’s nobody even close.
This $100 billion in new investment will go into building five cutting-edge fabrication facilities in the great state that we just discussed, Arizona, and will create thousands of jobs — many thousands of jobs, and they’re high-paying jobs. In total, today’s announcement brings Taiwan Semiconductor investments to about $165 billion — they’ve started already — among the largest new foreign direct investments in United States.
Apple, as you know, made a big announcement last week of $500 billion, and we have some others that have announced.
We have many that want to announce. But I don’t have time to do all of these announcements, I tell you. But, for you, I’m doing the announcement.
MR. WEI: Thank you.
THE PRESIDENT: This will create hundreds of billions of dollars in economic activity and boost America’s dominance in artificial intelligence and beyond.
Semiconductors are the backbone of the 21st century economy — and, really, without the semiconductors, there is no economy — powering everything from AI to automobiles to advanced manufacturing. And we must be able to build the chips and semiconductors that we need right here, in American factories, with American skill and American labor. And that’s exactly what we’re doing.
As you know, Taiwan pretty much has a monopoly on that market. And I think “pretty much” is not a term that’s even appropriate. They do have a monopoly. And this is a tremendous move by the most powerful company in the world.
It’s a matter of economic security. It’s also a matter of national security for us. And, at the same time, Mr. Wei will be able to diversify and have his tremendous presence in another place and a very safe place. And I want to thank Taiwan Semiconductor for doing the announcement.
And I’d like to ask Mr. Wei to say a few words, if you might.
And I’d also like to ask Howard and David — you can say a couple of words. But maybe you should go first because, right now, he’s the most important man in the room. I’m sorry, fellas.
Please.
Thank you very much. Thank you. Great honor.
MR. WEI: Thank you, Mr. President.
THE PRESIDENT: Thank you.
MR. WEI: I’m a — I’m a little bit nervous, so I have to pull out my piece of paper.
Mr. President, Secretary Lutnick — and, David, I didn’t know that — your title, but — okay.
First, I want to thank — say thank you to Mr. President to give me this opportunity to announce our big project in the U.S.
TSMC is the world’s largest chip manufacturing, founded by Dr. Morris Chang in 1987. It’s now at the forefront of semiconductor technology, supporting AI advancement and industry growth.
In fact, I would like to wind back the time that in 2020 we have to thank President Trump’s vision and his support. So, TSMC start the journey of establishing the advanced chip manufacturing in Arizona. And now, let me proudly say, now the vision become reality.
In Phoenix, Arizona, with 3,000 employees, we are producing the most advanced chip made on U.S. soil with the success of our first fab.
So, we are now very happy to announce we are going to invest additional 100 billion U.S. dollar in addition to our current 65-billion-U.S.-dollars investment in Arizona. We are going to build three more new fab — be- — after we promised the three fabs already, and another two very advanced packaging fab, and, most important, an R&D center, also in Arizona.
For this, all the investment — $165 billion — is going to create thousand of the high-paid job, as the president just announced. And we are, most important — actually, we are going to produce many AI chips. We are going to produce many chips to support AI’s progress and to support the smartphone’s progress. And, again, with that, I want to thank President Trump again for his support. In addition, I also want to thank my customers in the U.S., such as Apple, Nvidia, AMD, Qualcomm, Broadcom. They all support TSMC’s manufacturing in the U.S. Without their support, we probably cannot make it true.
So, again, I want to thank them. Also, I’d like to thank the TSMC’s employee. Without their effort, we just cannot make it today.
That’s all I want to say. And thank you.
THE PRESIDENT: Thank you. That’s great. (Applause.) Thank you very much.
Howard, please. David.
SECRETARY LUTNICK: Sure.
THE PRESIDENT: Thank you.
SECRETARY LUTNICK: So, I’m thrilled to be here today, because President Trump has made it a fundamental objective to bring semiconductor chip manufacturing home to America.
Under the Biden administration, TSMC received a $6 billion grant, and that encouraged them to build $65 billion. So, America gave TSMC 10 percent of the money to build here. And now you’re seeing the power of Donald Trump’s presidency, because TSMC, the greatest manufacturer of chips in the world, is coming to America with $100 billion investment. And, of course, that is backed by the fact that they can come here because they can avoid paying tariffs.
So, the idea is: Come to America. Build greatness in America. Build for the American customers — the Apple, Nvidia, that whole list that Chairman Wei gave — in order to bring production to America. So, we’re really, really excited. This continues the most incredible path you’ve ever seen, in these first weeks and months of the Trump administration, of incredible manufacturing coming to America. The keys that the president has called out are coming here. They’re coming here in huge size because they want to be in the greatest market in the world, and they want to avoid the tariffs that, if they’re not here, they’d have to suffer.
So, I want to congratulate C.C. Wei for bringing in this incredible $100 billion investment, but it’s on the shoulders of our president, Donald Trump, which is why he’s coming.
So, thank you.
THE PRESIDENT: Thank you.
David.
MR. SACKS: Thank you, sir. Well, the products that TSMC makes are literally the most important products in the world. I mean, these advanced chips power everything. They power AI. They power your phone. They power your cars. And without them, the whole modern economy would stop, but they’re not made in the United States.
So, for TSMC to move here is a huge, huge development, and we owe that to President Trump’s leadership on the economy and Secretary Lutnick as well. And, C.C., thank you for — for coming here.
Thank you. Yeah.
THE PRESIDENT: Thank you, David.
So, thank you very much. A big percentage of chips with this investment will be made now — a big percentage. Worldwide, we had very little. Almost none. We used to have a lot with Intel. But we had very little. And we’ll be at close to 40 percent of the market with this transaction and a couple of others that we’re doing. That’s a tremendous leap — like, a leap that nobody would have really said was possible.
So, I just want to thank you all for being here. If you want a couple of questions.
(Cross-talk.)
Q On the —
THE PRESIDENT: Ideally on this subject.
Yes, please.
Q — specific number of jobs it will create. He said thousands —
THE PRESIDENT: They — yeah.
Q — but do you have a better —
THE PRESIDENT: They — you’re probably talking about 25,000 jobs. But it’ll get bigger and bigger with time. Knowing this gentleman, it’ll get bigger and bigger. There’ll be no stopping him. (Laughs.)
Q Mr. President, what more —
THE PRESIDENT: Yeah. Brian, go ahead.
Q Right. In addition to the jobs, you talked about national security, and that’s one thing I think a lot of Americans —
THE PRESIDENT: Yeah.
Q — at home don’t understand. Explain the national security aspect of this.
THE PRESIDENT: Well, without the chips and semiconductors, nothing runs today. You can’t buy a car without them. You can’t get a radio, a television, nothing — you can’t get anything. And we thought it was very important — obviously, business was, but we thought even to terms of national security, to have this large percentage of the chips, semiconductors, and other things that they make — the most important product, and not a product that you can really copy. It takes years and years.
You’re on the needle of a pin is total genius. I mean, they can put things — I mean, something the size of the needle, the point of a pin, they put information that is just not even believable.
So, if you would —
(Cross-talk.)
If you would see this, it’s just really something.
Yes, Brian.
Q Can I — one — one more aspect to that. Honda —
THE PRESIDENT: Yeah.
Q — announced they’re coming to Indiana because of the tariffs. Once again —
THE PRESIDENT: That’s right.
Q — you’re bringing additional jobs in manufacturing. Do you want to comment on that as well?
THE PRESIDENT: Well, Honda is coming, and I told you about Apple, that they’re going to be starting to build massively here — $500 billion. And we have many other companies. It’s going to be announced, but we had many that have already announced. And no, it’s going to be great. It’s looking — it’s looking really strong. I don’t think this country has ever seen anything like we’re seeing right now.
Now, the tariffs, as you know, it will start a week earlier than the reciprocal, which is going to be on — a couple of weeks earlier. Reciprocal tariffs start on April 2nd. And I wanted to make it April 1st, but I didn’t want to do — I didn’t want to go April Fool’s Day — (laughter) — because that cost me — that costs a lot of money, but — that one day. So, we’re going April 2nd.
But very importantly, tomorrow, tariffs — 25 percent on Canada and 25 percent on Mexico, and that’ll start. So, they’re going to have to have a tariff. So, what they’ll have to do is build their car plants, frankly, and other things in the United States — in which case, they have no tariffs. In other words, you build — and this is exactly what Mr. Wei is doing by building here. Otherwise, they’ll build — if they did them in Taiwan to send them here, they’ll have 25 percent or 30 percent or 50 percent or whatever the number may be someday. It’ll go only up. But by doing it here, he has no tariffs, so he’s way ahead of the game.
And I would just say this to people in Canada or Mexico, if they’re going to build car plants, the people that are doing them are much better off building here, because we have the market. We’re the market where they sell the most.
And so, I think it’s going to be very exciting. Very exciting for the automobile companies. Very exciting for — I can think of any — as an example, North Carolina, they had the great — I used to go there to buy furniture for hotels, and it’s been wiped out. That business all went to other countries, and now it’s all going to come back into North Carolina — the furniture manufacturing business.
Please.
Q Mr. President —
Q Is the Ukraine minerals deal now dead, or can it be revived? What — what’s your —
THE PRESIDENT: Well, I’ll let you know. We’re making a speech — you probably heard about it — tomorrow night, so I’ll let you know tomorrow night.
But, no, I don’t think so. I think it’s — look, it’s a great deal for us, because, you know, Biden very, very, foolishly — stupidly, frankly — gave $300 billion and — $350 billion, more accurately — to a country to fight and to try and do things. And you know what happened? We get nothing. We get nothing — just gave it.
We could have rebuilt our entire U.S. Navy with $350 billion. Think of it. Three hundred and fifty billion, we could have rebuilt our U.S. Navy.
So, he gave it away as fast as the money could be gone. And what we’re doing is getting that all back and a lot more than that. And what we need — it’s very important for this business that we’re talking about here, with chips and semiconductors and everything else — we need rare earths. And the deal we have is we have the finest rare earths that you can.
Q Sir, on Ukraine. Sir, on Ukraine.
Q Are you going to press back —
Q Thank you, Mr. President. What do you need to see from President Zelenskyy to restart these negotiations?
THE PRESIDENT: Well, I just think he should be more appreciative, because this country has stuck with them through thick and thin. We’ve given them much more than Europe, and Europe should have given more than us, because, as you know, that’s right there. That’s the border.
This country really was like the fence on the border. It was very important to Europe. And I’m not knocking Europe, I’m saying they’re just — they were a lot smarter than Joe Biden, because Joe Biden didn’t have a clue. He just gave money hand over a fist, and they should have been able to equalize with us.
In other words, if we gave a dollar, they should have given. Well, we gave $350 billion. They probably gave 100, but on top of it all, they get their money back, because they are doing it in the form of a loan, and it’s a secured loan.
So, when I saw that, which I’ve known about for a little while, I said, “It’s time for us to be smart.” At the same time, it’s great for them, because they get us in the country taking the rare earth, which is going to fuel this big engine, and especially the engine that we’ve, in a very short time, created. And we get something, and we’re in the — we’re there. We have a presence there.
With all of that being said, I want one thing to happen: I want all of those young people to stop being killed. They’re being killed by the thousands every single week. Last week, 2,700 were killed. Twenty-seven hundred young — in this case, just about, all young boys from Ukraine and from Russia. And that’s not young people from the United States, but it’s on a human basis.
I want to see it stop. The money is one thing, but the death. And they’re losing thousands of soldiers a week, and that’s not including the people that get killed every time a town goes down or a missile goes into a town.
(Cross-talk.)
We — and — and I want to see it stop.
Yes.
Q Mr. President, are you considering canceling military aid to Ukraine? And can we get a reaction to what the Kremlin just said, that your administration is bringing U.S. worldview in alignment with Moscow’s?
THE PRESIDENT: So, this is a deal that should have never happened. This is a deal that would have never happened, and it didn’t happen — for four years, it didn’t happen. It was never even close to happening. If I were president, would not have happened. And October 7th would have — would not have happened in Israel. And inflation wouldn’t have happened.
And Afghanistan, disastrous — the way they withdrew — not the fact that they withdrew but the way they withdrew — would have never happened. And we would have had Bagram right now instead of China having it. It was one hour away from where China makes their nuclear weapons. We would have kept Bagram — one of the biggest air bases in the world.
All of these things happened, and it’s a shame. But it is what it is, and now we’re here. I want to see it end fast. I don’t want to see this go on for years and years.
Now, President Zelenskyy supposedly made a statement today in AP — I’m not a big fan of AP, so maybe it was an incorrect statement — but he said he thinks the war is going to go on for a long time, and he better not be right about that. That’s all I’ll say.
Q Mr. President, is there any —
Q Could this project — could this minimize the impact of the U.S. with chips should China decide to isolate Taiwan or China decide to take Taiwan?
THE PRESIDENT: Well, it’s a very interesting point. It’s a great question, actually. But this would certainly — I can’t say “minimize.” That would be a catastrophic event, obviously. But it will at least give us a position where we have — in this very, very important business, we would have a very big part of it in the United States. So, it would have a big impact if something should happen with Taiwan.
Q And with Russia sanctions, are you looking at relieving Russian sanctions if there is a peace deal?
THE PRESIDENT: Well, we’re going to make deals with everybody to get this war, including Europe and European nations. And they’ve acted very well. You know, they’re good people. I know; most of them are friends of mine — the heads of state, the heads of the various countries, prime ministers from the different — I got four prime ministers and five presidents called me over the last two days, and they want to work it out. They want to get it worked out.
And I think they’re also — you know, they’re talking money, but the money is less important than the deaths. We’re talking thousands of young people a week. And people would say why do I care about Ukraine, young people; why do I care about — and not all young, but they’re pretty young. You know, Ukraine is running a little bit low, and they’re getting older. They’re recruiting older people. It’s a very, very sad thing that’s happening over there, and we want to get it finished. We want to stop the death.
(Cross-talk.)
Q Mr. President, on the tariffs. Is there any room left for Canada and Mexico to make a deal before midnight? And should we expect those Chinese tariffs, the extra 10 percent to take effect tomorrow?
THE PRESIDENT: No room left for Mexico or for Canada. No, the tariffs, you know, they’re all set. They go into effect tomorrow.
Q Mr. President, just a follow-up on my colleague’s question. Hearing —
THE PRESIDENT: And just so you understand, vast amounts of fentanyl have poured into our country from Mexico and, as you know, also from China, where it goes to Mexico and goes to Canada. And China also had an additional 10, so it’s 10 plus 10.
And it comes in from Canada, and it comes in from Mexico, and that’s a very important thing to say.
Yeah, please. Go ahead.
Q Have you decided if you’re going to suspend military aid to Ukraine? Have you made that decision?
THE PRESIDENT: Well, I haven’t even talked about that right now. I mean, right now, we’ll see what happens. A lot of things are happening right now, as we speak — I mean, literally as we speak. I could give you an answer and go back to my office — the beautiful Oval Office. I could go back into the Oval Office and find out that the answer is obsolete.
It’s like his business. It’s obsolete. You come up with a new chip, and it’s obsolete about two minutes later, right? But that’s what’s good about his business. That’s why he’s the only one that’s successful in it. But —
Q And on tariffs, sir.
Q Mr. President, just to follow up my colleague’s question from Russia is saying that your foreign policy is largely in line with their vision. Should that be concerning to Americans?
THE PRESIDENT: Said what?
Q Should that be concerning to Americans?
THE PRESIDENT: Read the statement.
Q That Russia — Russia says that your administration’s foreign policy is, quote, “largely in line” with their vision.
THE PRESIDENT: Well, I tell you what, I think it takes two to tango, and you’re going to have to make a deal with Russia, and you’re going to have to make a deal with Ukraine. You’re going to have to have the ascent, and you’re going to have to have the consent from the European nations, because I think that’s important, and from us.
I think everybody has to get into a room, so to speak, and we have to make a deal. And the deal could be made very fast. It should not be that hard a deal to make. It could be made very fast.
Now, maybe somebody doesn’t want to make a deal, and if somebody doesn’t want to make a deal, I think that person won’t be around very long. That person will not be listened to very long. Because I believe that Russia wants to make a deal. I believe, certainly, the people of Ukraine want to make a deal. They’ve suffered more than anybody else. We talk about suffering — they’ve suffered.
But if you think about it, under President Bush, they got Georgia, right? Russia got Georgia. Under President Obama, they got a nice, big submarine base, a nice big chunk of land where they have their submarines. You know that, right? Crimea. Under President Trump, they got nothing. And under President O-Biden, they tried to get the whole thing. They tried to get the whole big Ukraine, the whole thing. If I didn’t get in here, they would’ve gotten the whole thing.
So, I can only say — you can go back to Bush, you go back to Obama, and go back to Biden — they took a lot. The only one they didn’t get — you know what I gave them? I gave them anti-tank missiles. That’s what I gave them. I gave them sanctions on Russia — on Russia. I gave them Javelins. You know the Javelins? You know when they took out all those tanks?
You know, the tanks were heading to Kyiv by the hundreds, and they were unstoppable, and I gave them Javelins.
So, you know, I really — Putin is the one that will tell you this has not been so good for them. The fact is that I just want fairness. I want fairness.
But think of it. I gave Russia nothing except grief. I gave them nothing. I gave them sanctions and Javelins. That’s what I gave them.
Obama gave them sheets. And you heard that statement before. It’s a very famous — Trump gave them Javelins, and Obama gave them sheets. And then they say how close I am to Russia.
Let me tell you, we have to make a deal, because there are a lot of people being killed that shouldn’t be killed. But remember, Trump gave them nothing, and the other presidents gave them a lot. They gave them everything.
Q Mr. President, on trade. You met with president — Argentine President Javier Milei at CPAC. He wants to sign a free trade agreement —
THE PRESIDENT: Right.
Q — with the United States. Is that something that you would consider, even with Argentina, or any other country?
THE PRESIDENT: I’ll consider anything. And Argentina — I think he’s great, by the way. I think he’s a great leader. He’s doing a great job. He’s doing a fantastic job. Brought it back from oblivion.
Yeah, we’ll look at things. We’re looking at the UK with things. It doesn’t have to be tariffs. But tariffs are easy, they’re fast, they’re efficient, and they bring fairness.
For instance, when people kill their dollar, their equivalent of the dollar, whatever — whether it’s the yuan or the yen in Japan or the yuan in China — when they drop them down, that gives us — that puts us at a very unfair disadvantage. So, all I have to do is say, “Howard, we’re going to have to raise the tariffs a little bit.”
Because I’ve called President Xi, I’ve called the leaders of Japan to say, “You can’t continue to reduce and break down your currency. You can’t do it, because it’s unfair to us.” It’s very hard for us to make tractors — Caterpillar — here, when Japan, China, and other places are killing their currency, meaning driving it down.
So, all of these things add up, and the way you solve it very easily is with tariffs. Because when they do that, instead of having to make phone calls every day, like I used to do with certain leaders — President Xi, a little bit — a lot of phone calls talking about the fact that they’re lowering their yuan. They’re lowering it down. And that makes it very, very hard for us.
So, this way, I just say, “Look, let them do that, and we make up for it with the tariffs.” But —
Q Will you be speaking with Mexican President Claudia Sheinbaum about tariffs today?
THE PRESIDENT: Yeah, sure, I will. I have a lot of respect for her. I have a lot of respect for her.
(Cross-talk.)
Q After the 10 percent tariff take ef- —
THE PRESIDENT: Yeah.
Q — takes effect, it’ll be 20 percent on China now. How high are you willing to go against China?
THE PRESIDENT: Well, I can’t say. It depends on what they do with their currency. It depends on what they do in terms of a retaliation with some kind of an economic retaliation, which I don’t think they’re going to retaliate too much.
Hey, look, the United States has been taken advantage of for 40 years. The United States has been a laughing stock for years and years. That’s why this gentleman has built in Taiwan, instead of building here. It would have been better if he built here.
If we had a president that knew what they were doing — and we had a lot of them very bad on trade. Look, I’m a huge fan of Ronald Reagan, but he was bad on trade. Very bad on trade. He allowed a lot of people, a lot of businesses, to be taken. So, I say that with due respect, because I — he was so great on other things, but he was bad on trade.
We are setting records right now — records like nobody has ever seen before. When you have companies like this coming in and almost 40 percent of their company, in one signature, is going to be devoted to what he does, which is one of the most important — important businesses in the world, that’s an unbelievable thing. When Apple now is going to start building all of their plants here, all because of what we’ve done in terms of — it’s not because he likes me or they like me. They don’t probably like me at all. I don’t know. I think he likes me a little bit, at least. (Laughter.)
MR. WEI: No, I like you.
THE PRESIDENT: But you know what? It’s the incentive we’ve created or the negative incentive. I mean, it’s going to be very costly for people to take advantage of this country. They can’t come in and steal our money and steal our jobs and take our factories and take our businesses and expect not to be punished, and they’re being punished by tariffs.
It’s a very powerful weapon that politicians haven’t used because they were either dishonest, stupid, or paid off in some other form. And now we’re using them.
Q Have you spoken with President Xi?
Q Agriculture —
THE PRESIDENT: Say it.
Q Have you spoken with President Xi about this this term?
THE PRESIDENT: I don’t want to tell you that.
Q On those incentives, sir.
THE PRESIDENT: Thank you very much, everybody.
(Cross-talk.)
Thank you. Thank you very much.
END 3:07 P.M. EST
Russia has banned Japanese Minister for Foreign Affairs Takeshi Iwaya and eight other Japanese citizens from entering the country in a retaliatory move, the Russian foreign ministry said Monday.
The decision was made in response to Tokyo’s “ongoing so-called sanction measures” against Russia, the ministry said in a statement.
The list also included Japanese Ambassador to Ukraine Masashi Nakagome and former Japanese Ambassador to Ukraine Kuninori Matsuda, among others.
Following last week’s Trump-Zelensky White House clash, more than a dozen Western leaders gathered Sunday to revive efforts for a Ukraine peace deal and propose a settlement to Washington.
British Prime Minister Keir Starmer described the summit as a “once-in-a-generation moment for the security of Europe.” Although the meeting could push the region toward greater self-reliance in security, many observers fear the measures may be too little and too late.
WAKE-UP CALL
Europe now finds itself at a moment of truth in its security strategy. Before Friday’s diplomatic debacle at the White House, Russia-U.S. talks on the Ukraine crisis took place in Riyadh on Feb. 18, with neither Europe nor Ukraine given a seat at the table.
This photo shows a scene during a defense summit in London, Britain, March 2, 2025. (Lauren Hurley/No 10 Downing Street/Handout via Xinhua)
Just one week later, U.S. President Donald Trump announced a plan to impose a 25-percent tariff on all goods imported from the European Union (EU), and justified the move by claiming that the EU was formed to “screw” the United States.
Europe was in a “moment of real fragility,” Starmer told the BBC’s Sunday with Laura Kuenssberg.
Asked about the White House clash involving the duo of Trump and U.S. Vice President JD Vance and Ukrainian President Volodymyr Zelensky, Finnish President Alexander Stubb told BBC before the summit that the breakdown was a “wake-up call” for European nations, stressing that they must adopt a cohesive strategy for the Ukraine crisis and post-conflict arrangements.
Stubb expressed frustration over shifting transatlantic ties, saying the U.S.-Europe relationship “is evolving,” and “we’re witnessing a more transactional United States, where the Trump administration — rightly or wrongly — is pursuing an ‘America First’ policy.”
This has led European leaders to explore their own security solutions. At the Munich Security Conference last month, European Commission President Ursula von der Leyen pushed for an emergency clause that would allow governments to increase defense spending without being constrained by the EU’s strict budget deficit rules. After Sunday’s summit, she reiterated that Europe must “step up massively” and forge a common security approach.
French President Emmanuel Macron proposed on Sunday that European countries should boost their defense spending to between 3 and 3.5 percent of gross domestic product (GDP). His proposal came a few days after Starmer’s announcement that Britain would increase its defense spending to 2.5 percent of its GDP by 2027 and to 3 percent in the next parliamentary term, which would mean by 2034 at the latest.
Following a bilateral meeting with Ukraine on Saturday, Britain also agreed to loan Ukraine 2.26 billion pounds (2.84 billion U.S. dollars) to bolster its defense capabilities. Shortly after the summit, Britain further committed 1.6 billion pounds (2 billion dollars) in export finance, allowing Ukraine to purchase over 5,000 air defense missiles.
More than eight years after Britain voted to depart from the EU, it has positioned itself at the forefront of European security efforts, trying to play the role of a “bridge” between Europe and the United States to secure a peace deal for Ukraine.
STRENGTHENED BOND
After Sunday’s summit, Starmer outlined a four-step plan to strengthen Ukraine and support peace: to maintain military aid to Ukraine while the conflict continues and increase economic pressure on Russia; to ensure that any lasting peace guarantees Ukraine’s sovereignty and security, with Ukraine at the table for any negotiations; to deter “any future invasion by Russia” in the event of a peace deal; and to establish a “coalition of the willing” to defend Ukraine and uphold peace in the country.
The summit’s outcome was welcomed by European leaders. NATO Secretary General Mark Rutte called it “a good meeting,” saying “European countries are stepping up to ensure Ukraine has what it needs to fight for as long as necessary.”
German Chancellor Olaf Scholz emphasized the importance of NATO and said on social media on Sunday: “In recent years, we have strengthened our alliance with new members and increased defense spending. This is the path we will continue to follow.”
However, doubts remain over whether Europe can fully safeguard a peace deal on its own. When asked how Britain plans to persuade more countries to join the “coalition of the willing,” Starmer acknowledged that some countries may be reluctant to contribute militarily.
“I strongly feel that unless some countries move forward, we will stay in the position we’re in and not be able to move forward,” he said, while admitting the goal to “stay in lockstep with the United States.”
TRANSATLANTIC DISAGREEMENTS
The EU and the Trump administration have a range of disagreements on the settlement of the Ukraine crisis, while the U.S. provision of security guarantees for Ukraine is foremost among the discussions.
Within a week before the London summit, both Macron and Starmer visited Washington to seek U.S. security guarantees for Ukraine or Europe, but failed to persuade Trump in this regard.
Trump sidestepped the question of security guarantees, expressing confidence that his Russian counterpart, Vladimir Putin, would “keep his word” if an agreement is reached. He also ruled out the possibility of Ukraine joining NATO. Ukraine’s NATO membership has been a focal issue in the crisis.
Earlier on Sunday before the summit, Starmer announced that Britain, France and Ukraine will work on a ceasefire plan to present to the United States. He named three essential points to achieve “lasting peace” — a strong Ukraine, a European element with security guarantees and a U.S. backstop, with the last one being the subject of “intense” discussion.
After the announcement of the four-step plan to guarantee peace in Ukraine at the summit, the participating leaders also agreed to meet again soon to sustain the momentum behind these efforts.
“Europe must do the heavy lifting,” Starmer said, emphasizing that the agreement needs U.S. backing.
Iain Begg, a research fellow at the London School of Economics and Political Science, told Xinhua: “The real question is whether this will be enough to sway the White House. We’ve seen time and again that Washington can reverse its stance overnight.”
Also on Sunday, Macron told a French newspaper that he was “trying to make Washington understand that disengaging from Ukraine is not in America’s interest.”
While the summit has pushed Europe toward greater security commitments, the region still faces divisions over whether to deploy troops to Ukraine under a peacekeeping framework.
For now, some major European countries, including Germany, Spain and Poland, remain hesitant to commit troops to Ukraine, with Britain and France taking the lead in potentially sending military forces.
Meanwhile, the EU is still in the early stages of developing a defense budget plan. Some experts noted that Europe’s efforts to build its own defense capabilities may still have a long way to go.
David Galbreath, a professor of international security at the University of Bath, pointed to the U.S. military’s capabilities: “The U.S. provides far sharper military capabilities, such as long-range strikes, sophisticated anti-tank systems and advanced surface-to-air missiles, than anything coming from Europe.”
Source: United States Senator for Iowa Chuck Grassley
WASHINGTON – Sen. Chuck Grassley (R-Iowa) issued the following statement regarding today’s Oval Office meeting between President Trump and Ukrainian President Volodymyr Zelenskyy:
“I met with President Zelenskyy today as part of a senatorial delegation, and reaffirmed my long-held position that Putin is a dictator who’s not interested in giving up his imperial ambitions. The Constitution makes clear foreign negotiations are led by the President. President Trump wants peace for the Ukrainian people and an end to the bloodshed caused by Putin’s brutal invasion.”
Grassley recently reflected on the third anniversary of Russia’s invasion of Ukraine in a Senate floor speech.
Source: United Nations General Assembly and Security Council
The Security Council’s programme of work for March will feature a signature event on increasing the adaptability of peace operations, while also leaving space for additional meetings on new developments, its President for the month said at a Headquarters press conference today.
Christina Markus Lassen (Denmark), who holds the 15-member organ’s rotating presidency for this month, said the open debate on ensuring that peace operations adapt and respond to new realities, to be held on 24 March, will be chaired by her country’s Minister for Foreign Affairs, Lars Løkke Rasmussen. The aim is to “simply to have an honest look” at peacekeeping, she said.
Denmark will preside over the European Union’s annual briefing to the Council, under the agenda item on cooperation between the UN and regional and subregional organizations, to be delivered by the newly-appointed European Union High Representative for Foreign Affairs and Security Policy. Stressing that European security architecture is key to the stability of the continent and the wider neighbourhood, she noted that the Union is not only a strategic partner to the United Nations but also a humanitarian and development partner.
The monthly programme for March focuses on the mandated meetings “because it’s already a very packed agenda”, she said. “By not stuffing the programme, we are leaving, of course, slots open for the Council to consider new developments as they may arise,” she said, noting that Denmark will also prioritize themes such a women, peace and security and climate, peace and security.
Her country is returning to the presidency of the Council after 20 years — it will strive “to be constructive, creative and consistent”, she said. Denmark will bring its strong faith in international law and the Charter of the United Nations into the country-specific files. “We’ll first and foremost try to be an honest broker” in this difficult and challenging time, she said.
The quarterly briefing on the United Nations Assistance Mission in Afghanistan (UNAMA) is scheduled on the first day of the Commission on Status of Women, she pointed out, adding that this is not completely a coincidence. “We do want to have a special focus during the meeting on the situation for women and girls in Afghanistan,” she said.
Noting several mandated meetings concerning the Middle East, from Gaza to Yemen to Syria to Lebanon, she said that the Council on 27 March will hold a briefing on the Democratic Republic of the Congo. However, it will monitor that and other crises, and if there are developments that warrant holding a meeting sooner, it will do so. “We’ve learned that the hard way,” she added.
She also responded to several questions posed by media correspondents, many of which concerned Ukraine. While there is hope for “some kind of breakthrough” at the moment, she highlighted the need to ensure “the right terms”. It is crucial to not reward the aggressor and punish the victim, she added, reaffirming the need to respect Ukraine’s sovereignty and territorial integrity. There is no doubt about who the threat is, she said, stressing that there must be consequences for invading a neighbouring country.
As to whether the United Nations has been sidelined on this issue, she pointed to the General Assembly debate last week which aired many concerns. The resolution that was adopted provides a framework for the many conversations that are happening currently, she said, adding that the United States delegation has clearly articulated a vision to try to move the needle and change the current stalemate. But Ukraine has to be present when Ukraine is being discussed, and Europe should be participating when its security is being discussed, she said, noting the European amendments to the United States draft text.
Europe must ensure that Ukraine is in the strongest possible position when negotiations happen, she said. In per capita terms, Denmark is the biggest contributor of military support to Ukraine right now and will continue to support it, she affirmed.
Responding to a question about the provision in Chapter VI of the Charter, which would bar a party to the conflict that is the subject of a Council resolution from participating in a vote concerning that text, she pointed out that for this to work, “everybody would have to agree on that”. It is difficult to see the Permanent Five members of the Council agreeing to such a solution because that would have to be applied to other situations as well. When the correspondent followed up that answer by noting that it is a procedural issue and therefore would only require a majority vote, she replied: “in principle, yes, I think you’re right, but I don’t think anybody thinks this is really realistic.”
Regarding United States President Donald J. Trump’s demand that the Denmark Government give Greenland to his country, she said it is indeed necessary to strengthen security around the Arctic and the High North. But Greenland belongs to Greenlanders and its future is for them to decide. Noting that Greenland is an integrated part of Denmark, she said independence is possible, if Greenlanders decide so.
Several correspondents posed questions concerning Gaza, Israel’s violations and the viability of the two-State solution. Ms. Lassen noted several meetings concerning the Middle East on the Council’s agenda in March as well as the Arab League Summit on 4 March. Many positive things have come out of the ceasefire agreement, she said, expressing concern that Hamas is rejecting the extension of its first phase, while Israel is blocking humanitarian aid. Both parties must continue to negotiate phase 2 of the agreement and eventually make the ceasefire permanent.
As to why Denmark has not recognized Palestine, she said that “it is not just us”. This recognition should happen as part of a larger negotiation, she said, adding: “We need to use that chip when it really, really matters.”
Source: United States Senator for Vermont – Bernie Sanders
WASHINGTON, March 3 – Sen. Bernie Sanders (I-Vt.) today released the following statement introducing the American people to the background and history of Russian dictator, and apparent ally of President Trump, Vladimir Putin.
Donald Trump’s attacks on Ukrainian President Volodymyr Zelensky are a gift to Russian President Vladimir Putin. Trump is dividing the Western alliance, and undermining Ukraine’s defense against Russia’s invasion. His actions may prolong the war by convincing Putin he can manipulate Trump into a deal with concessions he couldn’t win on the battlefield.
Trump is cozying up to Vladimir Putin – so, who is Putin?
Putin is a former Soviet spy who spent 16 years in the KGB, where he learned how to manipulate people by playing on their egos, greed and fears. After the end of the Cold War, Putin was named head of the FSB, Russia’s post-KGB intelligence agency. In 1999, Putin was named Prime Minister, becoming president when former President Yeltsin unexpectedly resigned. Putin has ruled Russia ever since.
At the heart of Putin’s rule are two forces: corruption and violence.
As Russia’s new leader, Putin, who is now believed to be one of the wealthiest people on earth, consolidated power at home by reining in Russia’s powerful oligarchs. He offered them a simple deal: If they granted him absolute power and shared the spoils, he would let them steal as much as they wanted from the Russian people. The result: while the vast majority of the Russian population struggles economically, Putin and his fellow oligarchs stashed trillions of dollars in offshore tax havens. In the process, Putin crushed Russia’s brief movement toward democracy. He eliminated rivals, cracked down on freedom of speech, and strangled the free media. Political dissidents, investigative journalists, and opposition leaders started turning up dead.
Today, 26 years after he took power, Putin is the absolute ruler of Russia. Russian elections are blatantly fraudulent, with Putin’s lackeys barely hiding their ballot-stuffing. In the last sham election, Putin won 88 percent of the “vote” against carefully screened opposition candidates.
That is Putin’s Russia. There is no freedom of speech. Protests are violently suppressed. Tens of thousands of people are in imprisoned for speaking out against his rule. The bravest and most prominent dissidents – people like Alexei Navalny, Boris Nemtsov and Sergei Magnitsky – are murdered outright. And the billionaire oligarchs become even richer.
That is the leader Trump defends and admires.
But it’s not just repression at home. Putin has also engaged in four brutal wars: in Chechnya, Georgia, Syria and Ukraine (twice). In Chechnya, his forces targeted civilians and medical personnel, flattening entire cities. Against Georgia, he launched an unprovoked invasion and annexed 20 percent the country. In Syria, Russian aircraft bombed schools, hospitals and crowded markets, killing thousands of civilians to prop up the brutal dictator Bashar al-Assad. And in Ukraine, Putin has invaded twice, first in 2014 and then again in 2022.
Right now, Russia occupies about 20 percent of Ukraine. Because of Putin’s invasion, over one million people have been killed or injured. Every single day, Russia rains down hundreds of missiles and drones on Ukrainian cities. Putin’s forces have massacred civilians and kidnapped thousands of Ukrainian children, bringing them back to Russian “re-education” camps. These atrocities led the International Criminal Court to issue an arrest warrant for Putin in 2023 as a war criminal.
Putin has also directly attacked the United States and its allies, repeatedly hacking our computer systems, attempting to sabotage critical infrastructure, meddling in our elections and harassing our diplomats.
That is Donald Trump’s new best friend, Vladimir Putin.
Every American – regardless of his or her political views – should see the current reality clearly. For the first time in American history, we have a president who is prepared to turn his back on our democratic allies and democratic values to align himself with one of the world’s most brutal dictators.
For 250 years, people all over the world have looked to the United States, the longest existing democracy on earth, as a source of inspiration. In many countries, democratic leaders have studied our Declaration of Independence and our Constitution for guidance as to how to form governments of the people, by the people, and for the people. In this difficult historical moment, we cannot let them down. More importantly, we cannot let ourselves down. We cannot turn our backs on democracy and our own history.
We must not allow authoritarians and oligarchs to rule the world.
Uncertainty about the next stage in the war in Ukraine is putting increased pressure on Ukrainian children who have already put up with three years of war.
“Our ChildFund partners based all through Ukraine and in Moldova are continuing the roll out of our 2025 programme of support. No matter what the outcome of negotiations, it is clear this war will not end any time soon. The support must continue,” says Josie Pagani CEO of ChildFund New Zealand.
12.7 million people, including 2 million children, are in need of urgent humanitarian support now.
Children are the most affected. The impact of the war on children’s emotional and psychological well-being and their motivation to learn has contributed to a decline in learning, while psychological distress has contributed to non-attendance.
In 2025 we plan to do the following:
Provide more child and adolescent friendly spaces to help children cope with war-related losses and trauma
Provide mental health and psychological support to displaced people and local communities, with a particular focus on women and children
Run awareness campaigns on the dangers of mines and explosive remnants of war, as well as strategies and techniques to avoid accidents
Build bomb shelters to ensure the safety of students and school staff in education facilities
Distribute winter emergency aid, including solid fuel, and clean water
Provide cash-for-shelter repairs, to fix damaged homes
Provide hygiene kits to young people and their families
Rehabilitate heating systems, water supply and waste-water systems in healthcare facilities.
“In the last three years our ChildFund partners have reached 502,264 beneficiaries, including 204,396 women and girls, and 97,340 children.
The plan in 2025 is to reach about 80,000 additional beneficiaries, including 32,000 children. It is clear the war will not end tomorrow. The bombs are still dropping, and Ukrainian children need our support.
Source: Traditional Unionist Voice – Northern Ireland
Statement by TUV leader Jim Allister MP:
“I was very happy to welcome the Thales missile factory deal which will see an investment of £1.6bn in a Northern Ireland company when responding to a statement on Ukraine by the Prime Minister in the Commons earlier today.
“By way of contrast, Michelle O’Neill claims to be “incredulous” that the UK should be providing weapons to a country under attack from Putin.
“O’Neill feigns concern for money which she alleges should be spent on public services while defending an IRA campaign which cost the health service alone countless millions.
“With the approach of the new administration in Washington increasingly moving towards disengagement in Europe, it is more important than ever that Europe steps up to the plate when it comes to spending on defence – something it frankly hasn’t done in many decades.
“I am proud to be part of a nation which makes a difference on the world stage – in stark contrast to the Irish Republic which continues to shirk their responsibilities and free load on other nations when it comes to both air and naval defence.”
The regulations on the European Defence Fund (EDF)[1], in support of ammunition production (ASAP)[2] and on establishing an instrument for the reinforcement of the European defence industry through common procurement (EDIRPA)[3] explicitly provide that actions related to the development, production or procurement of lethal autonomous weapons, without the possibility of meaningful human control over selection and engagement decisions when carrying out strikes against humans, shall not be eligible for EU financial support.
EU military assistance for Ukraine falls under the responsibility of the Council of the European Union. Under the programmes implemented by the Commission to strengthen the EU’s defence technological and industrial base (EDTIB), the eligibility conditions as established in the EDF, ASAP and EDIRPA imply the exclusion of Ukrainian entities from the possibility of receiving EU funding.
The Commission proposal for the European Defence Industry Programme (EDIP) Regulation[4] envisages that entities established in Ukraine may be recipients of EU funding, but actions related to lethal autonomous weapons without the possibility of meaningful human control would not be eligible for funding.
Within the limits of the powers conferred on it by the Treaties, the Commission is to oversee the application of EU law. The application of and compliance with international human rights law and international humanitarian law arises from the respective treaties under international law to which Ukraine is a contracting party, e.g. the European Convention on Human Rights and the Geneva Conventions of 1949 and their additional protocols.
The third edition of the EIB Group Forum will be held in Luxembourg from 5-7 March, focusing on action to boost Europe’s prosperity, security, and fostering global cooperation.
EIB Group President Nadia Calviño will open the Forum on 5 March, with EIB Chief Economist Debora Revoltella launching the EIB Investment Report, which analyses investment trends of more than 12,000 European companies.
President Nadia Calviño and European Commissioner for Energy and Housing, Dan Jorgensen, will outline latest joint efforts to support access to affordable housing in Europe.
President Calviño will also participate in sessions alongside European Commissioners, national ministers, international partners and European business leaders.
The European Investment Bank Group (EIB) President Nadia Calviño will open the EIB Group Forum on Wednesday, 5 March, in Luxembourg. The three-day event, held at the European Convention Centre, will bring together leaders and experts to discuss and put forward concrete solutions to the challenges and the opportunities facing Europe and the world today across the economy, society and global politics.
“Now is the time to act. The global order which has provided peace and prosperity for the last 80 years is changing. In these turbulent times it is more important than ever that Europe provides stability and certainty – founded on our strengths, with unity and determination”, said EIB President Nadia Calviño.“Europe is a superpower when it comes to trade, research and innovation. The EIB Group Forum offers a timely opportunity for European leaders and innovators to come together with companies and international partners to put concrete solutions on the table in key areas like green tech, health, security and defense, building a more secure, competitive, and prosperous future for all of us.”
The Forum will feature a diverse lineup of speeches and panels over its three days. Highlights include:
5 March:
A session on decarbonising Europe’s industry, with a keynote by Luca De Meo, CEO of Renault Group, one of the world’s largest carmakers.
Launch of the EIB Group Investment report, presenting insights on EU investment trends based the EIB Group’s annual survey of more than 12,000 companies.
Panels covering Europe’s increased need for security investments; the connection between digitalisation and growth; and the role of capital markets in advancing gender equality.
6 March:
Keynote address by Antonio Costa, President of the European Council (by video).
Keynote by Teresa Ribera, Executive Vice-President of the European Commission, in charge of Clean, Just and Competitive Transition.
Keynote address by World Health Organisation Head Dr Ghebreyesus Tedros
A session on affordable and sustainable housing in Europe, featuring EIB President Nadia Calviño and European Commissioner for Energy and Housing, Dan Jørgensen, laying the foundations for a new pan-European affordable housing initiative
6-7 March:
EIB Global Days: Sessions on Europe’s role in the world, including discussions on expanding the EU, support for Ukraine, energy transition beyond EU borders, critical raw materials, and health.
On the eve of International Women’s Day (8 March), discussions will focus on scaling up solutions for diversity, inclusion and economic growth with the second meeting of the Women Climate Leaders’ Network on the Forum margins.
For the full agenda and speakers please visit the EIB website. The Forum will be entirely livestreamed on the EIB YouTube channel, while the opening speech of the President and other key moments will be available on EBS.
Journalists interested in interviews with Forum participants are invited to contact us. We will facilitate connections with their respective spokespersons where possible.
Background information
The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world.
The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.
High-quality, up-to-date photos of our headquarters for media use are available here.
Source: The Conversation (Au and NZ) – By Brendon O’Connor, Professor in U.S. Politics and U.S. Foreign Relations, United States Studies Centre,, University of Sydney
Since returning to the US presidency, Donald Trump has outdone himself, gaining global media headlines and attention with outrageous statements and dramatic decisions.
The most consequential decision so far has been the freezing of many US aid and development programs. The freeze had an immediate impact. Even with some waivers now in place, it is likely that starving people in Ethiopia will not get the famine relief desperately needed; food is rotting in African harbours as constitutional battles over executive power are waged in Washington.
There are numerous examples of other reckless policy decisions. In terms of long term consequences, arguably the worst decision Trump has made is pulling the United States out of the Paris Agreement on climate change. He also wound back a slew of Biden administration policies while erasing the term “climate change” from various government websites.
Then there are Trump’s statements on Ukraine, Gaza and Panama. Last weekend, his treatment of Ukrainian President Volodymyr Zelensky in the White House meeting caused widespread dismay around the world, as Trump doubled down on his promotion of Putin’s talking points and Russian government interests.
So what’s Trump’s game plan?
With Trump, it is tempting to claim he is a chaos merchant with no plan or method to his madness. According to this view, when he is challenged or criticised, he will escalate the threats and increase the insults.
Therefore, conventional wisdom has it that the best way to deal with Trump is to flatter and humour him, then wait for his attention to be distracted by another prize. This understanding of Trump has been developed by international relations scholar Daniel Drezner into the “toddler-in-chief” thesis.
Psychological understandings of Trump are useful to a point, but it is worth remembering presidencies are run by vast administrations of people, departments and agencies, and not just one person. Moreover, an institution as large as the US Defense Department – with its two million employees and military bases in at least 80 countries around the world – has a near permanent mindset of its own. This, in turn, tends to make presidents as seemingly different as Obama and Trump custodians of many similar military policies and postures.
The way I have initially examined Trump in my own research is to see him as a hardline conservative nationalist who believes projecting US power with tough talk and reminding other nations of American military might is the best approach to world politics.
Previous Republican presidents, most notably George W. Bush and Ronald Reagan, adopted this so-called “cowboy” approach. It’s a posture that rejects the idea that the US is the leader of a liberal international order (a leadership role promoted by their Democratic party opponents).
My starting point for analysis sees continuities between Reagan, Bush and Trump, and highlights their arrogance and ignorance when it comes to dealing with the rest of the world.
Similar, but different
However, there are some things about Trump that are clearly different and distinct. Before his second term, the most unusual aspect of Trump’s foreign policy approach was the volume and range of his scattergun rhetoric towards other leaders and nations. For example, he threatened North Korea with “fire and fury and, frankly, power, the likes of which this world has never seen before”, but later told a rally of supporters that, “We fell in love. No, really. He wrote me beautiful letters.”
As for academic perspectives that might help us better understand what kind of politician Trump is and what his next moves might be, the obvious label is “crudely transactional”. His attitude to most minor and middle powers seems to be “what have you done for me lately?” or “why does America owe your nation anything?”.
When it comes to Russia, and potentially China, there has been speculation Trump is adopting a geopolitical approach with parallels to the “great game” of the 19th century. The “great game” is another way of saying imperialism, and this is a largely underused way of describing American foreign policy in general and the second Trump administration in particular.
Then there is the question of whether the (other) “f-word” is a useful way to understand Trump and Trumpism: are his rhetoric and his domestic and international policies fascist? They are definitely ultra-nationalist and racist, which are two key components of fascism; Trumpism revolves around a charismatic leader that has enough in common with fascist Italy and Nazi Germany to make opponents of Trump justifiably nervous. But does Trumpism have the other key element of fascism: mob or state violence that is at times directed at scapegoated enemies?
There is certainly an embrace of revenge and cruelty by Trump in general, which is being carried out in practice by Musk’s DOGE project. However, whether it is useful to call the second Trump administration fascist, or just fascistic for now, is a complex question within scholarly circles.
Five weeks into the second Trump administration, and many of the most destructive ideas that were laid out last year in the unofficial campaign manifesto Project 2025 are being put into place. It has been a long-term dream of many hardline conservatives to gut America’s foreign aid and development programs, which is now happening at a frightening pace.
What lies ahead that turns rhetoric into reality is hard to entirely predict, but many of Trump’s utterances this year have clearly been imperialistic and fascistic. Trump does not have to ignore the constitution or be a textbook fascist to be a terribly dangerous president. Being an authoritarian, which he has no qualms about embracing, is worrying enough.
Brendon O’Connor does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
Source: The Conversation – UK – By Michael Tamvakis, Professor of Commodity Economics and Finance, City St George’s, University of London
The UK has become a world leader in offshore wind power.iweta0077 / shutterstock
Gas and electricity bills will rise again for millions of UK households on April 1, when the latest energy price cap takes effect. A typical household will pay £111 more per year.
Though prices have fallen somewhat since their peak in 2022, bills are still considerably higher than they have been historically. That’s despite the construction over the past decade of vast wind farms in the North Sea – which, once built, provide electricity for very little extra cost.
So what explains the UK’s pricey gas and electricity?
Since the 1990s, the UK has been dependent on natural gas in more ways than one. In 2023 (the most recent year for which we have full statistics), gas accounted for 33% of the UK’s energy and almost as much of the electricity it generated. That year, wind contributed 29% to generation and solar an additional 5%, which is of some significance.
As nearly all households are connected to mains gas, most energy bills reflect the global price of gas.
The UK has to compete with demand for gas from other markets, especially, but not exclusively, the EU. The higher the demand, the higher the price. Before the Ukrainian crisis, many EU economies, especially Germany, were able to source abundant gas through pipelines from Russia.
The UK, like other big European countries such as Spain, Italy and France, was able to meet some of its gas supply via pipelines (from Norway in the case of the UK), but also in the form of more expensive liquefied natural gas (LNG) from as far afield as Qatar, Algeria, West Africa and, more recently, the US.
Since the Russian invasion of Ukraine in early 2022, the flow of pipeline gas has almost entirely stopped. Germany and western EU countries have to compete with everyone else to source their gas from Norway or international LNG markets. A few countries on the eastern side of the EU, such as Austria and Hungary, are still sourcing their gas from Russia but face western criticism for that continued dependence.
This all matters to UK consumers because most of a household’s average energy bill reflects the vagaries of the international gas market. A relatively harsh winter in Europe means they have purchased more gas and paid more for it. In a global market the UK consumer will have to pay this price as well. Even a harsh winter in Japan means that more LNG is directed there, increasing prices for UK and EU consumers.
We can’t suddenly turn on the wind
Even the growth in renewables, especially wind power, does not offer protection against the vagaries of the global gas markets. It is well known that wind energy is intermittent and therefore difficult to forecast and base generation plans on.
Wind energy is what people in the electricity industry call “non-dispatchable”. Because electricity is a universal good, which we expect to have whenever we ask for it, the national grid needs to be able to balance the randomness of wind generation with the immediate response of a reliable, quick-start, “dispatchable” source of generation. Gas fits the bill.
As a result, expensive gas which is called on to make up for the loss of wind or solar generation, ends up setting the electricity price (called the “system price”) most days. Other countries experience something similar. Germany, for instance, generates just 15% of its electricity from gas (albeit with a further 25% from coal) and gets a higher proportion from renewables (28% wind and 12% solar). Yet it still has to use gas frequently to balance the electrical system, with the same effect as in the UK.
Ultimately, the more variable renewable electricity we inject into the system, the more we need to plan for, and invest in, infrastructure that can support it. That means a smarter grid, fewer grid bottlenecks within the UK, more and bigger interconnections to other European countries and battery solutions which can store electricity both for short periods (minutes and hours) and for days and even weeks.
Putting all these elements in place is a Herculean task. Gas fills the gap, but in a way which is more expensive (for now) and continues emitting greenhouse gases, albeit at half the rate that coal did.
Don’t have time to read about climate change as much as you’d like?
Michael Tamvakis does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
Source: United States Senator for Connecticut – Chris Murphy
March 03, 2025
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WASHINGTON–U.S. Senator Chris Murphy (D-Conn.) on Sunday joined CNN’s State of the Union with Dana Bash to discuss President Donald Trump’s meeting with President of Ukraine Volodymyr Zelensky and the upcoming joint address to Congress.
Murphy explained why President Trump appears to be aligning himself with Vladimir Putin: “The White House has become an arm of the Kremlin…It appears as if America is trying to align itself with dictators. Donald Trump wants us to have our closest relationships with despots all around the world because that makes it easier for him to transition America into a kleptocratic oligarchy where Elon Musk and Donald Trump rule and steal from the American people. If we were allied with democracies, that would be harder. But if the United States’ closest partner is Russia, then it makes it a lot easier for Donald Trump, Elon, and their billionaire pals to steal from the American people, to steal our data, to steal our Medicare, to steal our Medicaid in order to enrich themselves.”
On the Trump-Zelensky meeting, Murphy said: “The back half of that meeting ended up just being the Kremlin literally driving the message of the White House. It is a sad day in America when we are getting closer and closer to Russia, a brutal dictatorship, and we are getting further and further away from democratic allies. Nobody in America wants that. People in America want that war to end, but they don’t want it to end by handing the entirety of Ukraine to Russia and elevating the power of a dictator in the Kremlin.”
On President Trump’s upcoming joint address to Congress, Murphy said: “I think that State of the Union speech is going to be a farce. I think it’s going to be a MAGA pep rally, not a serious talk to the nation. I think Donald Trump is going to spew a series of lies about his alignment with Russia, about what he’s trying to do to allow Elon Musk to essentially monetize the American government to enrich Musk and his billionaire crowd. And I’m just not going to be a part of that.”
He continued: “Listen, the case I’m making to Democrats is that we have to fight every single day. Every single day. Republicans flood the zone. Democrats have to flood the zone. They flood the zone with lies. We flood the zone with truth. We are going to stop this billionaire takeover of government. We are going to stop their destruction of democracy, which they have to do, because what they are attempting to do – gut Medicaid in order to feed another set of tax cuts to Elon Musk and his billionaire friends – it’s unpopular. We’re going to stop that billionaire takeover, that destruction of our democracy, only by fighting them every single day.”
In his latest address to the International Atomic Energy Agency (IAEA) Board of Governors on Monday, Director General Rafael Mariano Grossi warned of the escalating nuclear safety risks in Ukraine as the conflict grinds on.
Reaffirming the UN-backed IAEA’s commitment to monitoring facilities such as the Khmelnitsky, Rivne and South Ukraine Nuclear Power Plants (NPPs), he described how facilities were performing under extreme conditions.
“The electrical grid’s ability to provide a reliable off-site power supply to Ukrainian NPPs was reduced by damage sustained following military attacks in November and December 2024,” Mr. Grossi stated, underscoring the ongoing strain on national energy infrastructure, in the face of Russia’s ongoing invasion.
A team of IAEA experts visits Zaporizhzhya Nuclear Power Plant in Ukraine in June 2024.
Direct attacks on staff
Direct attacks have complicated the agency’s work. The Director General described a drone strike that severely damaged an IAEA vehicle during a routine rotation.
“Staff survived this unacceptable attack unharmed, but the rear of the vehicle was destroyed,” he said, noting the continuous risks faced by staff working in these volatile conditions.
Particularly concerning is the situation at the Zaporizhzhya Nuclear Power Plant (ZNPP), where six reactor units remain in cold shutdown. The facility’s off-site power supply continues to be vulnerable.
Mr. Grossi highlighted a recent incident in which ZNPP relied on a single off-site power line after losing its remaining backup, further underscoring the fragility of the plant.
Meanwhile, an attack on the Chernobyl site nearly three weeks ago, which caused significant damage to the protective structure of the 1986 reactor, was also addressed.
While no radioactive release occurred, Mr. Grossi stressed that the attack “underlines the persistent risk to nuclear safety during this military conflict.”
Fire on the New Safe Confinement (NSC) at the Chornobyl Nuclear Power Plant site following a drone attack on 14 February 2025.
Support for safety efforts
Despite the challenges, Mr. Grossi reaffirmed the IAEA’s ongoing support for Ukraine.
Since November 2024, the Agency has delivered 31 shipments of nuclear safety, security and medical equipment, totalling over €15.6 million in value.
“We are grateful to all 30 donor states and the European Union for their extrabudgetary contributions,” Mr. Grossi added, urging continued support for the comprehensive assistance programme.
Concerns over Iran’s nuclear programme
Mr. Grossi also reported fresh concerns over Iran’s nuclear programme, especially its stockpile of uranium enriched to 60 per cent.
Iran remains the only non-nuclear weapon State enriching uranium to this level, raising significant concerns over potential weapons development.
“Iran says it has declared all nuclear material, activities and locations required under its NPT Safeguards Agreement. However, this statement is inconsistent with the Agency’s findings of uranium particles of anthropogenic origin at undeclared locations in Iran,” Mr. Grossi explained.
The Director General emphasised the need for greater transparency, stressing that unresolved safeguards issues must be addressed for Iran’s nuclear activities to be deemed peaceful.
He called on Iran to urgently implement the Joint Statement of March 2023 and engage in serious dialogue aimed at resolving outstanding issues.
Global safety initiatives
Mr. Grossi also outlined the IAEA’s broader initiatives, including his recent visit to Japan’s Fukushima Daiichi Nuclear Power Station, where he oversaw the collection of water samples related to the ongoing release of ALPS-treated contaminated water – in the wake of the major 2011 meltdown.
“The IAEA has maintained its independent monitoring and analysis efforts, confirming that tritium concentrations in the discharged batches remain far below operational limits,” he noted.
After the catastrophic press conference on February 28 between Ukrainian president Volodymyr Zelensky and US president Donald Trump, it is clear that there has been a global realignment.
What the press conference revealed was that Trump’s position is a lot closer to Russian president Vladmir Putin than long-time US ally Ukraine, and also that other US allies cannot count on Washington to promote the global world order.
The extraordinary spectacle ended with Trump and vice-president J.D. Vance shouting at Zelensky, telling him he wasn’t thankful for US aid. Since then, the expected mineral deal between Ukraine and the US has been called off – at least for now.
There was already a wake-up call for European allies about how reliable the US might be during Trump’s first term when he launched his “American first” policy. This included chastising Nato member countries for not paying enough, and characterising Europe as free-riding on US security guarantees.
While this sparked alarm among some European leaders over how to ensure that the continent becomes less dependent on the US, Europeans are now scrambling to respond to Trump 2.0’s much more extreme version of America first. After the press conference, European Union foreign minister Kaja Kallas declared: “Today it became clear that the free world needs a new leader. It’s up to us, Europeans, to take this challenge.”
Trump’s relationship with Russia
To some extent Europe was caught off guard because it was hard to imagine that a US president would swing US support behind Russia, especially after Russia’s unlawful invasion of Ukraine in 2022. But Trump has turned the page on challenging Russian aggression, and does not seem to see Putin’s ambitions as a threat to global security.
Instead in the press conference – as in previous statements – Trump has echoed some of Putin’s talking points, such as Ukraine not having any cards to play, being unwilling to do a peace deal, and having to give up land to Russia.
Trump also refused to say that Putin started the war, and even claimed that peace could have been possible early on in the war had Zelensky wanted peace. Trump even repeatedly opined that both Putin and Trump were brothers of sorts — victims of the same investigation of Russian interference in the 2016 US election.
The press conference also revealed that the security guarantees that Zelensky pushed Trump to confirm were secondary at best. Trump remained vague and offered no details, possibly because he has no intention of the US providing any security to Ukraine.
The aim may have been to goad Zelensky – just weeks ago on Fox News Trump stated that he did not know if Ukrainians would one day become Russian. Meanwhile, Trump’s claim that Ukraine did not have any cards to play is unhelpful to highlight if you are trying to negotiate a great deal for one of your allies.
What Trump seemed to forget is that Ukraine once had a lot of cards — holding the third largest nuclear arsenal in the world with 1,900 strategic warheads, 176 intercontinental ballistic missiles and 44 strategic bombers. Ukraine was coaxed into returning all of its nuclear warheads in exchange for security assurances from Russia and the west, in a 1994 agreement known as the Budapest Memorandum.
But while this memorandum might mean little to the current US president, allies around the world can see how quickly a US leader can forget their country’s commitments. The message that Trump is sending now is that every country must fight for themselves. All interactions are transactional, and economic interests trump the genuine security needs of allies.
This plays perfectly into China’s hands. To China, Trump has signalled that he primarily cares about the tariff issue. In addition, he could implement higher tariffs on the US’s biggest trading partners (and allies), Canada, the EU and Mexico, than on China.
The symbolism of the unsigned mineral deal with Ukraine and the capitulation to Russia’s territorial interests in Ukraine should be music to the ears of China’s president, Xi Jinping.
What it means for China
China has inundated Taiwan with a propaganda campaign that says the self-governing island is part of China. Part of the campaign focuses on the notion that if China were to invade, the US would abandon Taiwan, citing the withdrawal from Afghanistan in 2021 as evidence of this.
The US’s abrupt abandonment of Ukraine adds fuel to this fire. Xi could be emboldened to execute his plan of uniting Taiwan by 2049, if not earlier, which could have disastrous consequences for the global economy.
European leaders met with President Zelensky after the Trump press conference.
Taiwan produces 90% of the world’s most advanced semiconductors needed for artificial intelligence and quantum computing, and has a market share of 68%.
An invasion could lead to a block on global access to semiconductors, causing shortages of all sorts of tech, a possible stock market crash and a fall in trade between Taiwan and western economies. This could cost around US$10 trillion (£7.9 trillion), equal to 10% of global GDP.
Additionally, for countries such as South Korea and Japan that have been persuaded to not embark on nuclear programmes, the US U-turn sows doubt about its commitment to provide a nuclear shield to its Pacific allies. This could prompt these countries to reverse policies of nonproliferation.
What happens to Nato?
Nato has been traditionally led by a US general, but it’s not even clear that the US will remain in the alliance. In the past few weeks Europe has been forced to hold a series of emergency meetings to try to rise to the various global challenges – with or without the US as a key partner.
All of this makes the US more vulnerable as well. The US is more secure and prosperous when it is part of a long-term alliance, working in partnership with its allies to ensure security, stability, free trade and investment. If the US were to even reduce its security commitments to Nato by 50%, estimates suggest trade with members would fall by US$450 billion.
The alliance system has been a backbone of US security since 1949. The cost to Nato’s credibility and to defending its borders if Ukraine loses the war would be trillions, not billions, of dollars.
With Trump appearing desperate to do a deal on Putin’s terms with no concessions, Russia will become much stronger as a result. In spite of the fact that more than 95,000 Russians have died, it’s likely that Russia will act even more boldly, becoming a more attractive ally to US adversaries.
Trump’s support for Putin not only encourages a hostile nuclear power on the doorstep of the US’s top Nato allies, but also suggests that the US cannot be counted on in future.
Natasha Lindstaedt does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.