Pelosi Tells Tsai Visit Shows US Won't Abandon Taiwan

Here are the KEY TAKEAWAYS from US Speaker of the House Nancy Pelosi’s Aug. 2-3 visit to Taiwan, which took place despite pressure from China, which claims sovereignty over the self-governing island:

• Pelosi departed Taiwan after meeting lawmakers and President Tsai Ing-wen in Taipei on Wednesday. She praised Taiwan’s economy and governance, calling it one of the “freest societies in the world” and signaling even closer ties, including a possible trade deal
• Pelosi said her visit was intended to signal friendship to Taiwan and peaceful intentions for the region, it was also aimed at sending an unequivocal message: “America stands with Taiwan.” Tsai said the visit showed Taiwan’s staunch international support despite years of pressure from Beijing. “Facing deliberately heightened military threats, Taiwan will not back down,” Tsai said
• China is arranging a military response, includingmissile tests, in the waters and airspace encircling Taiwan. It has warned airlines to avoid “danger zones” around the island, and also suspended some fish and fruit imports from the island. Beijing blamed the US for “a new round of tensions and severe challenges” in the region.
• Republicans in the US and both the ruling and opposition parties in Taiwan praised the trip, saying Pelosi’s decision bolsters ties between the US and Taiwan. Taiwan is strategically important for its geographic location, its role in tech supply chains and as a democratic model to contrast with China’s one-party rule
• Ahead of Pelosi’s arrival late Aug. 2, global markets saw a flight to haven assets like the yen and US Treasuries, but investor anxiety eased as the trip got underway