(20 Mar 2025)
RESTRICTION SUMMARY:
ASSOCIATED PRESS
Taipei, Taiwan – 20 March 2025
1. Various of Taiwanese President Lai Ching-te receiving gift of baseball home base made of Taiwanese cypress drift wood from American Chamber of Commerce Chairperson in Taiwan Dan Silver, who is also General Manager at Boston Scientific in Taiwan
2. SOUNDBITE (English), Lai Ching-te, Taiwanese President:
“Currently, Taiwan’s defense budget stands at about 2.5% of GDP. Going forward, the government will prioritize special budget allocations to ensure that our defense budget exceeds 3% of GDP. At the same time, we will continue to reform national defense, further enhancing Taiwan’s self-defense capabilities. And we will advance our cooperation with the U.S. and other democracies in upholding regional stability and prosperity.”
3. Various of Taiwanese Defense Minister Wellington Koo speaking to woman
4. SOUNDBITE (English), Lai Ching-te, Taiwanese President:
“One essential element for our economic prosperity is maintaining security and stability both regionally and globally. So, we are grateful for the joint leader statement issued by President Trump and Japan’s Prime Minister Ishiba Shigeru, in which they express their solid support for maintaining peace and stability across the Taiwan Strait.”
5. Various of Lai on stage with Dan Silver (second right), the Director of the American Institute in Taiwan (AIT) Raymond Greene (far left) and Alaska governor Mike Dunleavy (far right) proposing a toast
6. SOUNDBITE (English), Lai Ching-te, Taiwanese President:
“We hope that AmCham (American Chamber of Commerce) will continue to offer support in quickly resolving the issue of double taxation, and removing tax barriers to bilateral investments and trade, further enhancing the mutual and beneficial Taiwan-U.S. economic and trade partnership.”
7. Various of Lai Ching-te taking a group photo
STORYLINE:
Taiwan’s President Lai Ching-te said he will increase the island’s military spending from 2.5% to over 3% of its gross domestic product amid China threats.
“Going forward, the government will prioritize special budget allocations to ensure that our defense budget exceeds 3% of the GDP," said Lai.
"At the same time, we will continue to reform national defense, further enhancing Taiwan’s self-defense capabilities," he added.
Lai made the announcement at the annual American Chamber of Commerce (AmCham) dinner in Taipei City, attended by the American Institute in Taiwan Director Raymond Greene, the de facto U.S. ambassador to Taiwan, and AmCham chairperson Dan Silver as well Alaska Governor Mike Dunleavy.
Faced with the rising threat from China, Taiwan has ordered new missiles, aircraft and other armaments from the U.S., while revitalizing its own defense industry.
Taiwan and China split amid civil war 76 years ago, but Chinese leader Xi Jinping has continued to make bringing the island to heel a top priority of his administration even as it faces economic headwinds and a race for high technology with the West.
Lai stressed "maintaining security and stability both regionally and globally" is essential for Taiwan’s prosperity.
He also urged AmCham to help resolve the issue of double taxation and removing tax barriers to Taiwan-U.S. bilateral investments and trade.
AP Video by Taijing Wu
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