🔥 Top Stories
Soybean salad oil produced by Zhonglian was found to contain excessive levels of benzo(a)pyrene, a Class 1 carcinogen. The affected batch totals 1,300 metric tons and was supplied to manufacturers including Taishan, Fushou, and Fumao, impacting 20 product items. Taiwan's FDA has initiated a recall and urges consumers to stop consuming affected products and seek refunds. Taichung authorities have ordered Zhonglian to halt production.
The U.S. Office of Government Ethics released President Trump's 2025 financial disclosure on June 30, showing significant wealth growth in his first year back in the White House. His family's cryptocurrency business generated approximately 1.4 billion dollars in income, becoming his primary revenue source, excluding earnings from stocks, bonds, and real estate. The disclosure reignites conflict-of-interest concerns regarding Trump's dual role as both the nation's top cryptocurrency policymaker and a cryptocurrency business operator.
U.S. President Trump stated that Taiwan will double the scale of its semiconductor manufacturing facility under construction in Arizona. Trump indicated this expansion will help increase the U.S. chip market share to 50%. The announcement underscores Taiwan's significant role in America's semiconductor industry and deepening bilateral cooperation in the sector.
South Korea's June exports surpassed $100 billion for the first time, marking the largest increase in nearly 50 years and making it the fourth country globally to achieve this milestone. Semiconductor exports grew nearly 200% year-over-year, driven by the global AI boom. The robust semiconductor sector continues to be a key economic growth driver, significantly exceeding market expectations.
The yen-dollar exchange rate has fallen to a 40-year low, raising questions about potential Japanese government intervention. Analysts warn that if Japan sells substantial US Treasury holdings to support the yen, it could significantly impact the world's largest bond market.
🏛 Politics
Former Tainan City Council Speaker Guo Xin-liang is suspected of embezzling political donations and funds from an educational foundation totaling over 10 million Taiwan dollars. Prosecutors searched his premises and summoned Guo and his female secretary. The court ordered Guo released on bail of 1 million Taiwan dollars and his secretary on 100,000 Taiwan dollars with travel restrictions. Guo denies the allegations, claiming political donations were reported according to Control Yuan regulations. Prosecutors are considering filing an appeal.
The KMT legislative caucus introduced the "Defense Autonomy Unmanned Vehicle Technology Development and Procurement Act," allocating 240 billion NT$ over six years through the regular budget process. Taichung Mayor Lu Hsiu-yen stated the initiative aims to develop the drone industry as Taiwan's next strategic pillar, strengthening defense industrial autonomy. Legislator Lai Shih-pao proposed an additional 50 billion NT$ in supplementary funding.
China's Ethnic Unity and Progress Promotion Law came into effect yesterday. President Lai Ching-te stated the government will closely monitor the situation and implement five countermeasures, including strengthening public awareness and civil servant training, establishing prevention and response mechanisms, improving assistance and protection systems, and actively engaging internationally with allied nations. Taiwan firmly rejects the law's cross-border suppression.
After the Executive Yuan's "Defense Autonomy Unmanned Vehicle Procurement Special Act" was blocked by opposition parties, the ruling party submitted its own version requesting NT$240 billion over six years to be included in annual government budgets. Defense Minister Ku Li-hsiung stated in the Defense Committee that having legislators regulate the administration's budget allocation and then review it themselves violates the separation of powers principle.
The U.S. Office of Government Ethics released President Trump's 2025 financial disclosure on June 30, showing significant wealth growth in his first year back in the White House. His family's cryptocurrency business generated approximately 1.4 billion dollars in income, becoming his primary revenue source, excluding earnings from stocks, bonds, and real estate. The disclosure reignites conflict-of-interest concerns regarding Trump's dual role as both the nation's top cryptocurrency policymaker and a cryptocurrency business operator.
The Economist reports that both U.S. allies and adversaries recognize the need to demonstrate capacity to harm American interests to gain Trump administration respect. Taiwan's public discourse discusses using its semiconductor industry as negotiating leverage in dealings with the Trump administration.
The Trump administration decided on July 1 not to renew the US-Mexico-Canada Agreement (USMCA), instead activating the agreement's annual review mechanism. USMCA will continue under its current framework for approximately 10 years, with the three countries reviewing implementation annually and potentially renegotiating key provisions to pave the way for future talks.
The Taipei District Prosecutors Office is investigating the AnXin Coin money laundering case and discovered that police officer Li Jinlong from Taipei Police Department allegedly leaked investigation progress to businessman Zheng Chunyun. Prosecutors allege Li accepted entertainment and assistance in obtaining case information. On June 30, prosecutors coordinated 28 search teams and questioned 8 officials and 4 civilians. The court approved detention with no visitation for both Li Jinlong and Zheng Chunyun.
Taiwan's Agriculture Ministry held an emergency response meeting on the 1st regarding the Wanli Creek barrier lake in Hualien. Monitoring shows the dam height has increased by 6 meters from its initial formation due to continued right bank slope collapse. Maximum water storage capacity was revised to 5.1 million cubic meters, with current water volume at 2.24 million cubic meters. Without significant rainfall, the lake is estimated not to overflow within 10 days.
China's air force publicly displayed 10 Y-20B large transport aircraft equipped with new Wushan-20 engines in formation. This represents the largest-scale concentrated display to date and marks the Y-20B entering mass production. The total Y-20 fleet has exceeded 100 aircraft, demonstrating China's enhanced strategic airlift capabilities and accelerating its transition toward a strategic air force.
💰 Finance
US President Trump announced that Taiwan's TSMC will double the scale of its chip manufacturing facility under construction in Arizona. Trump stated this expansion aims to help the US capture approximately 50% of the global chip market share during his tenure. He emphasized that the US is creating more jobs, with additional chip factories set to launch within the next year, as Taiwanese chipmakers including TSMC continue increasing investments in America.
Soybean salad oil produced by Zhonglian was found to contain excessive levels of benzo(a)pyrene, a Class 1 carcinogen. The affected batch totals 1,300 metric tons and was supplied to manufacturers including Taishan, Fushou, and Fumao, impacting 20 product items. Taiwan's FDA has initiated a recall and urges consumers to stop consuming affected products and seek refunds. Taichung authorities have ordered Zhonglian to halt production.
Taiwan's Ministry of Labor announced that labor funds earned 2.125 trillion NT dollars in the first five months of the year, with a return rate of 27.7%. The new labor pension fund generated 1.4 trillion NT dollars in paper gains. With 12.92 million active accounts, the average dividend per worker exceeded six figures for the first time, reaching 112,600 NT dollars, a new record.
Progress in Middle East peace negotiations has driven down international oil prices, causing eurozone inflation growth in June to slow significantly below expectations. This development reduces pressure on the European Central Bank to raise interest rates further this month, providing relief for European monetary policy.
Micron CEO Sanjay Mehrotra stated that major customers have aggressively pressured memory chip prices for years, causing manufacturers to underinvest before the AI boom. With surging AI demand, supply shortages have emerged. Mehrotra did not disclose the identities of the price-pressuring customers.
Kevin Warsh, the newly appointed chair of the Federal Reserve, made his first international appearance, meeting with leaders of major central banks. Amid Middle East tensions pushing global inflation higher, Warsh emphasized the Fed's commitment to controlling price increases and demonstrated coordinated efforts with international central banks to address inflationary pressures.
U.S. President Trump stated that Taiwan will double the scale of its semiconductor manufacturing facility under construction in Arizona. Trump indicated this expansion will help increase the U.S. chip market share to 50%. The announcement underscores Taiwan's significant role in America's semiconductor industry and deepening bilateral cooperation in the sector.
South Korea's June exports surpassed $100 billion for the first time, marking the largest increase in nearly 50 years and making it the fourth country globally to achieve this milestone. Semiconductor exports grew nearly 200% year-over-year, driven by the global AI boom. The robust semiconductor sector continues to be a key economic growth driver, significantly exceeding market expectations.
The yen-dollar exchange rate has fallen to a 40-year low, raising questions about potential Japanese government intervention. Analysts warn that if Japan sells substantial US Treasury holdings to support the yen, it could significantly impact the world's largest bond market.
U.S. President Trump stated that Taiwan's semiconductor industry continues expanding investments in the United States, with TSMC's Arizona chip manufacturing facility set to double in scale. Trump indicated that if the plan proceeds successfully, the U.S. could achieve approximately 50% of the global chip market share during his tenure, strengthening America's competitiveness in the semiconductor industry.
💻 Technology
Apple is testing four new-generation iPad Pro models and developing a redesigned entry-level MacBook Pro, expected to launch in the first half of 2027. The new iPad Pro will maintain 11-inch and 13-inch sizes with internal hardware upgrades including new Apple Silicon processors and AI computing capabilities, while keeping the same design. Apple is simultaneously developing a 14-inch entry-level MacBook Pro codenamed K104 as part of its product strategy for iPhone's 20th anniversary.
Microsoft is reportedly planning a new round of layoffs, reducing its workforce by approximately 5,500 people, representing about 2.5% of its global workforce of 220,000 employees. This marks another significant workforce adjustment for the tech giant amid industry-wide economic pressures.
Japan's government announced it will provide 1 trillion yen (approximately 6.16 billion US dollars) over the next five years to nine companies led by SoftBank to develop domestic artificial intelligence foundation models. These nine companies will establish a joint venture called "Noetra" and focus on developing embodied AI technology, aiming to establish technological sovereignty amid US-China technological competition.
Meta Platforms is preparing a cloud infrastructure business to rent out AI computing power and models to external enterprises and developers. The company plans to leverage its large-scale data centers and AI chips built internally to improve resource utilization and recover substantial capital investments in AI infrastructure. This move will position Meta to compete directly with cloud giants including Amazon Web Services, Microsoft Azure, and Google Cloud.
🌏 International
Soybean salad oil produced by Zhonglian was found to contain excessive levels of benzo(a)pyrene, a Class 1 carcinogen. The affected batch totals 1,300 metric tons and was supplied to manufacturers including Taishan, Fushou, and Fumao, impacting 20 product items. Taiwan's FDA has initiated a recall and urges consumers to stop consuming affected products and seek refunds. Taichung authorities have ordered Zhonglian to halt production.
The United States announced Wednesday it will not renew the United States-Mexico-Canada Agreement (USMCA) in its current form. US Trade Representative Jamieson Greer cited Canada's pursuit of Chinese investment as a key concern. Following a virtual meeting among the three governments, Washington rejected the renewal, potentially reshaping North American trade relations and creating significant economic implications for all parties involved.
U.S. President Trump stated that Taiwan will double the scale of its semiconductor manufacturing facility under construction in Arizona. Trump indicated this expansion will help increase the U.S. chip market share to 50%. The announcement underscores Taiwan's significant role in America's semiconductor industry and deepening bilateral cooperation in the sector.
The U.S. Office of Government Ethics released President Trump's 2025 financial disclosure on June 30, showing significant wealth growth in his first year back in the White House. His family's cryptocurrency business generated approximately 1.4 billion dollars in income, becoming his primary revenue source, excluding earnings from stocks, bonds, and real estate. The disclosure reignites conflict-of-interest concerns regarding Trump's dual role as both the nation's top cryptocurrency policymaker and a cryptocurrency business operator.
South Korea's June exports surpassed $100 billion for the first time, marking the largest increase in nearly 50 years and making it the fourth country globally to achieve this milestone. Semiconductor exports grew nearly 200% year-over-year, driven by the global AI boom. The robust semiconductor sector continues to be a key economic growth driver, significantly exceeding market expectations.
The yen-dollar exchange rate has fallen to a 40-year low, raising questions about potential Japanese government intervention. Analysts warn that if Japan sells substantial US Treasury holdings to support the yen, it could significantly impact the world's largest bond market.
U.S. President Trump stated that Taiwan's semiconductor industry continues expanding investments in the United States, with TSMC's Arizona chip manufacturing facility set to double in scale. Trump indicated that if the plan proceeds successfully, the U.S. could achieve approximately 50% of the global chip market share during his tenure, strengthening America's competitiveness in the semiconductor industry.
The Taipei District Prosecutors Office is investigating the AnXin Coin money laundering case and discovered that police officer Li Jinlong from Taipei Police Department allegedly leaked investigation progress to businessman Zheng Chunyun. Prosecutors allege Li accepted entertainment and assistance in obtaining case information. On June 30, prosecutors coordinated 28 search teams and questioned 8 officials and 4 civilians. The court approved detention with no visitation for both Li Jinlong and Zheng Chunyun.
US President Trump announced that Taiwan's TSMC will double the scale of its chip manufacturing facility under construction in Arizona. Trump stated this expansion aims to help the US capture approximately 50% of the global chip market share during his tenure. He emphasized that the US is creating more jobs, with additional chip factories set to launch within the next year, as Taiwanese chipmakers including TSMC continue increasing investments in America.
The Trump administration decided on July 1 not to renew the US-Mexico-Canada Agreement (USMCA), instead activating the agreement's annual review mechanism. USMCA will continue under its current framework for approximately 10 years, with the three countries reviewing implementation annually and potentially renegotiating key provisions to pave the way for future talks.
The United States did not renew its trade agreement with Canada and Mexico by the Wednesday deadline, instead implementing an annual review process. This decision introduces uncertainty regarding the future of the trilateral trade pact and may impact economic relations across North America.
Aflac Japan has disclosed a significant data breach impacting approximately 4.38 million customers. The compromised information includes personal details, contact information, and banking account details. The company has initiated an investigation and notified regulatory authorities and affected customers of the incident.
Yorgen Fenech, a Maltese tycoon, faces trial for allegedly orchestrating the assassination of investigative journalist Daphne Caruana Galizia, 53. Caruana Galizia was killed by a car bomb near her home in 2017. A prominent public figure and vocal government critic, her murder sparked global outrage and contributed to the fall of Malta's government. Nine years after her death, the accused finally stands before the court.
Former Tainan City Council Speaker Guo Xin-liang is suspected of embezzling political donations and funds from an educational foundation totaling over 10 million Taiwan dollars. Prosecutors searched his premises and summoned Guo and his female secretary. The court ordered Guo released on bail of 1 million Taiwan dollars and his secretary on 100,000 Taiwan dollars with travel restrictions. Guo denies the allegations, claiming political donations were reported according to Control Yuan regulations. Prosecutors are considering filing an appeal.
The KMT legislative caucus introduced the "Defense Autonomy Unmanned Vehicle Technology Development and Procurement Act," allocating 240 billion NT$ over six years through the regular budget process. Taichung Mayor Lu Hsiu-yen stated the initiative aims to develop the drone industry as Taiwan's next strategic pillar, strengthening defense industrial autonomy. Legislator Lai Shih-pao proposed an additional 50 billion NT$ in supplementary funding.