Lai Ching-te asks US lawmakers to assist strengthen Taiwan’s defences

Good morning. In right now’s e-newsletter we cowl:

We begin, although, in Taipei, the place Taiwan’s new president Lai Ching-te has requested visiting US lawmakers to help extra legislative motion to assist strengthen his nation’s defences.

His request yesterday adopted two days of Chinese language navy workouts round Taiwan, which Beijing branded a “punishment” of Lai. The US authorities criticised them as “provocations”.

China claims Taiwan as a part of its territory and threatens to assault it if Taipei refuses to submit underneath its management indefinitely. Beijing is especially hostile in the direction of Lai, whom it accused of being “provocative” and “deceitful” in his inaugural deal with every week in the past, when he urged a resumption of cross-Strait exchanges but in addition reasserted Taiwan’s sovereignty.

The FT’s Kathrin Hille has the main points of Lai’s assembly with US lawmakers in Taipei.

Right here’s what else I’m preserving tabs on right now:

• Hess vote: Shareholders will vote right now on whether or not to just accept Chevron’s $53bn to purchase Hess.

• Australia commerce figures: April retail commerce knowledge might be launched right now.

• Donald Trump in court docket: A Manhattan court docket will hear closing arguments in Trump’s “hush cash” trial. Our US Election Countdown e-newsletter can have the most recent on the trial and the upcoming November vote. Join free right here.

5 extra high tales

1. China’s Premier Li Qiang hailed a “new starting” with South Korea and Japan because the three international locations pledged to revive talks on a free commerce settlement. Right here’s what else we realized from the summit in Seoul yesterday.

2. Israel confronted worldwide criticism after its air strike killed dozens of Palestinians in a camp for displaced civilians in Rafah. Israel’s Prime Minister Benjamin Netanyahu known as the deaths a “tragic accident”, and the Israeli navy prosecutor ordered an investigation. Earlier, the navy mentioned Israel had focused a “Hamas compound” in an operation that killed two senior militants. Learn the total story.

3. China has raised Rmb344bn, its largest spherical up to now, to help its chip business. The cash raised from the so-called Large Fund will help President Xi Jinping’s self-sufficiency drive launched amid US efforts to limit the nation’s entry to the most recent expertise. Our reporters element the place the contributions have come from, and what they’ll go in the direction of.

4. Earnings at China’s industrial corporations returned to development in April. Companies with greater than Rmb20mn ($2.8mn) in turnover elevated 4 per cent yr on yr, based on the Nationwide Bureau of Statistics. The information highlights Beijing’s efforts to spice up manufacturing as different areas of the world’s second-largest economic system wrestle to regain momentum.

5. US market modernisation plan can have enormous repercussions. The mission goes stay tomorrow, shortening the time it takes to finalise the thousands and thousands of securities trades throughout its markets day-after-day. Jennifer Hughes and Harriet Clarfelt clarify why, and what might go mistaken . . . 

The US-China geopolitical relationship: what’s the approach ahead? Be a part of FT, Nikkei Asia and Asia Society specialists for a free webinar on June 18 and put your inquiries to our panel now.

Large Learn

As rewilding opens new habitats, the controversy is rising over whether or not to coexist with animals or management their numbers. In Europe, the difficulty is particularly related because it pertains to wolves, whose inhabitants is up 81 per cent since 2012. The problem of human-wolf coexistence is greater than an financial query for farmers. “It’s now a battle of city towards rural, of left towards proper . . . The wolf is in the midst of this battle.”

We’re additionally studying and listening to . . . 

Chart of the day

Low costs, revenge journey and a blockbuster IPO are preserving the cruise business shipshape. Total 34.7mn passengers worldwide are anticipated to take a cruise this yr based on commerce physique the Cruise Traces Worldwide Affiliation — 17 per cent greater than in 2019.

Take a break from the information

“Baking has been getting all of the love for much too lengthy, it’s time ice-cream claimed its crown because the ruler of desserts!” Terri Mercieca writes within the introduction of her new guide The Comfortable Endings Cookbook: Desserts That Desires Are Made Of. A nerd and a revolutionary, Mercieca will make you fall in love with ice-cream making.

Further contributions from Sarah Ebner and Tee Zhuo.