The Trump administration reached a trade deal with Taiwan on Thursday, with Taiwan agreeing to remove or reduce 99% of its tariff barriers, the office of the U.S. Trade Representative said.

The agreement comes as the U.S. remains reliant on Taiwan for its production of computer chips, the exporting of which contributed to a trade imbalance of nearly $127 billion during the first 11 months of 2025, according to the Census Bureau.

Most of Taiwan’s exports to the U.S. will be taxed at a 15% rate, the USTR’s office said. The 15% rate is the same as that levied on other U.S. trading partners in the Asia-Pacific region, such as Japan and South Korea.

Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick attended the signing of the reciprocal agreement, which occurred under the auspices of the American Institute in Taiwan and the Taipei Economic and Cultural Representative Office in the United States. Taiwan’s Vice Premier Li-chiun Cheng and its government minister Jen-ni Yang also attended the signing.

computer chips, the exporting of which contributed to a trade imbalance of nearly $127 billion during the first 11 months of 2025, according to the Census Bureau.

Most of Taiwan’s exports to the U.S. will be taxed at a 15% rate, the USTR’s office said. The 15% rate is the same as that levied on other U.S. trading partners in the Asia-Pacific region, such as Japan and South Korea.

Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick attended the signing of the reciprocal agreement, which occurred under the auspices of the American Institute in Taiwan and the Taipei Economic and Cultural Representative Office in the United States. Taiwan’s Vice Premier Li-chiun Cheng and its government minister Jen-ni Yang also attended the signing.

“President Trump’s leadership in the Asia-Pacific region continues to generate prosperous trade ties for the United States with important partners across Asia, while further advancing the economic and national security interests of the American people,” Greer said in a statement.

The Taiwanese government said in a statement that the tariff rate set in the agreement allows its companies to compete on a level field with Japan, South Korea and the European Union. It also said the agreement “eliminated” the disadvantage from a lack of a free trade agreement between Taiwan and the U.S.

The deal comes ahead of President Donald Trump’s planned visit to China in April and suggests a deepening economic relationship between the U.S. and Taiwan.

Taiwan is a self-ruled democracy that China claims as its own territory, to be annexed by force if necessary. Beijing prohibits all countries it has diplomatic relations with — including the U.S. — from having formal ties with Taipei.

Cheng said Taiwan hopes the agreement will make it a strategic partner with the U.S. “so as to jointly consolidate the democratic camp’s leading position in high technology.”

The agreement would make it easier for the U.S. to sell autos, pharmaceutical drugs and food products in Taiwan. But the critical component might be that Taiwanese companies would invest in the production of computer chips in the U.S., possibly helping to ease the trade imbalance.

President Donald Trump on Monday threatened to block the opening of a new Canadian-built bridge across the Detroit River, demanding that Canada turn over at least half of the ownership of the bridge and agree to other unspecified demands in his latest salvo over cross-border trade issues.

“We will start negotiations, IMMEDIATELY. With all that we have given them, we should own, perhaps, at least one half of this asset,” Trump said in a lengthy social media post, complaining that the United States would get nothing from the bridge and that Canada did not use U.S. steel to built it.

The Gordie Howe International Bridge, named after a Canadian hockey star who played for the Detroit Red Wings for 25 seasons, had been expected to open in early 2026, according to information on the project’s website. The project was negotiated by former Michigan Gov. Rick Snyder — a Republican — and paid for by the Canadian government to help ease congestion over the existing Ambassador Bridge and Detroit-Windsor tunnel. Work has been underway since 2018.

It’s unclear how Trump would seek to block the bridge from being opened, and the White House did not immediately return a request for comment on more details. The Canadian Embassy in Washington also did not immediately return a request for comment.

Trump’s threat comes as the relationship between the U.S. and Canada increasingly sours during the U.S. president’s second term. The United States-Mexico-Canada trade agreement is up for review this year, and Trump has been taking a hard-line position ahead of those talks, including by issuing new tariff threats.

Canadian Prime Minister Mark Carney, meanwhile, has spoken out on the world stage against economic coercion by the United States.

“So to shoot yourself in the foot and threaten the Gordie Howe Bridge means that this guy has completely lost the plot on what’s good for us versus just what’s spite against the Canadians,” Slotkin said.

Michigan, a swing state that Trump carried in both 2016 and 2024, has so far largely avoided the brunt of his second-term crackdown, which has targeted blue states with aggressive immigration raids and cuts to federal funding for major infrastructure projects.

Trump and Democratic Gov. Gretchen Whitmer have also maintained an unusually cordial relationship, with the president publicly praising her during an Oval Office appearance last April. The two also shared a hug last year ahead of Trump’s announcement of a new fighter jet mission for an Air National Guard base in Michigan.

While Canada paid for the project, the bridge will be operated under a joint ownership agreement between Michigan and Canada, said Stacey LaRouche, press secretary to Whitmer.

Rep. Shri Thanedar, the Democratic House representative of Detroit, said blocking the bridge would be “crazy” and said Trump’s attacks on Canada weren’t good for business or jobs. “The bridge is going to help Michigan’s economy. There’s so much commerce between Michigan and Canada. They’re one of our biggest partners,” Thanedar said.

Democratic Rep. Debbie Dingell of Ann Arbor brushed aside the president’s threat, saying she’s looking forward to the bridge’s opening later in the spring. “And I’ll be there,” Dingell said.

A defiant Nicolás Maduro declared himself “the president of my country” as he protested his capture and pleaded not guilty Monday to federal drug trafficking charges that the Trump administration used to justify removing him from power in Venezuela.

“I was captured,” Maduro said in Spanish as translated by a courtroom interpreter before being cut off by the judge. Asked later for his plea to the charges, he stated: “I am innocent. I am not guilty. I am a decent man, the constitutional president of my country.”

Maduro’s court appearance in Manhattan, his first since he and his wife, Cilia Flores, were seized from their Caracas home Saturday in a stunning middle-of-the-night military operation, kicked off the U.S. government’s most consequential prosecution in decades of a foreign head of state. She also pleaded not guilty.

The criminal case is unfolding against a broader diplomatic backdrop of an audacious U.S.-engineered regime change that President Donald Trump has said will enable his administration to “run” the South American country.

Maduro, 63, was brought to court under heavy security early Monday — flown by helicopter to Manhattan from Brooklyn, where he is jailed, and then driven to the courthouse in an armored vehicle. He and Flores were led into court just before noon. Both were in leg shackles and jail-issued garb, and both put on headsets to hear the English-language proceeding as it was translated into Spanish.

As Maduro left the courtroom, a man in the audience denounced him as an “illegitimate” president.

As a criminal defendant in the U.S. legal system, Maduro will have the same rights as any other person charged with a crime in the country — including the right to jury trial. But, given the circumstances of his arrest and the geopolitical stakes at play, he’ll also be nearly — but not quite — unique.

That was made clear from the outset as Maduro, who took copious notes throughout the proceedings and wished Happy New Year to reporters as he entered the courtroom, repeatedly pressed his case that he had been unlawfully abducted.

“I am here kidnapped since Jan. 3, Saturday,” Maduro said, standing and leaning his tall frame toward a tabletop microphone. “I was captured at my home in Caracas.”

U.S. District Judge Alvin Hellerstein, a 92-year-old jurist who was appointed to the federal bench in 1998 by Bill Clinton, interrupted him, saying: “There will be a time and place to go into all of this.” Hellerstein added that Maduro’s lawyer could do so later.

“At this point in time, I only want to know one thing,” the judge said. “Are you Nicolás Maduro Moros?”

“I am Nicolás Maduro Moros,” the defendant responded.

Maduro’s lawyer, Barry Pollack, said he expects to contest the legality of his “military abduction.”

Pollack, a prominent Washington lawyer whose clients have included WikiLeaks founder Julian Assange, said Maduro is “head of a sovereign state and is entitled to the privileges and immunities that go with that office.”

Panamanian strongman Manuel Noriega unsuccessfully tried the same immunity defense after the U.S. captured him in a similar military invasion in 1990. But the U.S. doesn’t recognize Maduro as Venezuela’s legitimate head of state — particularly after a much-disputed 2024 reelection.

Flores, who identified herself to the judge as “first lady of the Republic of Venezuela,” had bandages on her forehead and right temple. Her lawyer, Mark Donnelly, said she suffered “significant injuries” during her capture.

A 25-page indictment accuses Maduro and others of working with drug cartels to facilitate the shipment of thousands of tons of cocaine into the U.S. They could face life in prison if convicted.

Among other things, the indictment accuses Maduro and his wife of ordering kidnappings, beatings and murders of those who owed them drug money or undermined their drug trafficking operation. That included the killing of a local drug boss in Caracas, the indictment said.

Outside the courthouse, police separated those protesting the U.S. military action from pro-intervention demonstrators. Inside the courtroom, as the proceeding wrapped up and Maduro prepared to leave, 33-year-old Pedro Rojas stood up and began speaking forcefully at him in Spanish.

Rojas said later that he had been imprisoned by the Venezuelan regime. As deputy U.S. marshals led Maduro from the courtroom, the deposed leader looked directly at the man and shot back in Spanish: “I am a kidnapped president. I am a prisoner of war.”

Demands for Maduro’s return

Trump said Saturday the U.S. would “run” Venezuela temporarily and reiterated Sunday night that “we’re in charge,” telling reporters “we’re going to run it, fix it.”

Secretary of State Marco Rubio tried to strike a more cautious tone, telling Sunday morning talk shows that the U.S. would not govern the country day-to-day other than enforcing an existing ” oil quarantine.”

Before his capture, Maduro and his allies claimed U.S. hostility was motivated by lust for Venezuela’s rich oil and mineral resources.

Trump has suggested that removing Maduro would enable more oil to flow out of Venezuela, but oil prices rose 1.7% on Monday. There are uncertainties about how fast oil production can be ramped up in Venezuela after years of neglect, as well as questions about governance and oversight of the sector.

Venezuela’s new interim leader, Delcy Rodríguez, has demanded that the U.S. return Maduro, who long denied any involvement in drug trafficking — although late Sunday she struck a more conciliatory tone in a social media post, inviting collaboration with Trump and “respectful relations” with the U.S.

Onetime cryptocurrency mogul Do Kwon was sentenced Thursday to 15 years in prison after a $40 billion crash revealed his crypto ecosystem to be a fraud. Victims said the 34-year-old financial technology whiz weaponized their trust to convince them that the investment — secretly propped up by cash infusions — was safe.

Kwon, a Stanford graduate known by some as “the cryptocurrency king,” apologized after listening as victims — one in court and others by telephone — described the scam’s toll: wiping out nest eggs, depleting charities and wrecking lives. One told the judge in a letter that he contemplated suicide after his father lost his retirement money in the scheme.

Judge Paul A. Engelmayer said at a daylong sentencing hearing in Manhattan federal court that the government’s recommendation of 12 years in prison was “unreasonably lenient” and that the defense’s request for five years was “utterly unthinkable and wildly unreasonable.” Kwon faced a maximum sentence of 25 years in prison.

“Your offense caused real people to lose $40 billion in real money, not some paper loss,” Engelmayer told Kwon, who sat at the defense table in a yellow jail suit. The judge called it “a fraud on an epic, generational scale” and said Kwon had an “almost mystical hold” on investors and caused incalculable “human wreckage.”

Kwon pleaded guilty in August to fraud charges stemming from the collapse of Terraform Labs, the Singapore-based firm he co-founded in 2018. The loss exceeded the combined losses from FTX founder Sam Bankman-Fried and OneCoin co-founder Karl Sebastian Greenwood’s frauds, prosecutors said. Engelmayer estimated there may have been a million victims.

Terraform Labs had touted its TerraUSD as a reliable “stablecoin” — a kind of currency typically pegged to stable assets to prevent drastic fluctuations in prices. But prosecutors say it was an illusion backed by outside cash infusions that came crumbling down after it plunged far below its $1 peg. The crash devastated investors in TerraUSD and its floating sister currency, Luna, triggering “a cascade of crises that swept through cryptocurrency markets.”

Kwon tried to rebuild Terraform Labs in Singapore before fleeing to the Balkans on a false passport, prosecutors said. He’s been locked up since his March 2023 arrest in Montenegro. He was credited for 17 months he spent in jail there before being extradited to the U.S.

Kwon agreed to forfeit over $19 million as part of his plea deal. His lawyers argued his conduct stemmed not from greed, but hubris and desperation. Engelmayer rejected his request to serve his sentence in his native South Korea, where he also faces prosecution and where his wife and 4-year-old daughter live.

“I have spent almost every waking moment of the last few years thinking of what I could have done different and what I can do now to make things right,” Kwon told Engelmayer. Hearing from victims, he said, was “harrowing and reminded me again of the great losses that I have caused.”

One victim, speaking by telephone, said his wife divorced him, his sons had to skip college, and he had to move back to Croatia to live with his parents after TerraUSD’s crash evaporated his family’s life savings. Another said he has to “live with the guilt” of persuading his in-laws and hundreds of nonprofit organizations to invest.

Stanislav Trofimchuk said his family’s investment plummeted from $190,000 to $13,000 — “17 years of our life, gone” during what he described as “two weeks of sheer terror.”

Chauncey St. John, speaking in court, said some nonprofits he worked with lost more than $2 million and a church group lost about $900,000. He and his wife are saddled with debt and his in-laws have been forced to work well past their planned retirement, he said.

Nevertheless, St. John said, he forgives Kwon and “I pray to God to have mercy on his soul.”

A prosecutor read excerpts from some of more than 300 letters submitted by victims, including a person identified only by initials who lost nearly $11,400 while juggling bills and trying to complete college. Kwon had made Terra seem like a safe place to stash savings, the person said.

“To some that is just a number on a page, but to me it was years of effort,” the person wrote. “Watching it evaporate, literally overnight, was one of the most terrifying experiences of my life.”

“What happened was not an accident. It was not a market event. It was deception,” the person added, imploring the judge to “consider the human cost of this tragedy.”

Kwon created an “illusion of resilience while covering up systemic failure,” Assistant U.S. Attorney Sarah Mortazavi told Engelmayer. “This was fraud executed with arrogance, manipulation and total disregard for people.”

Former Honduras President Juan Orlando Hernández, sentenced last year to 45 years in prison for his role in helping drug traffickers move hundreds of tons of cocaine to the United States, was released from prison following a pardon from President Donald Trump, his wife announced Tuesday.

The U.S. Bureau of Prisons inmate website showed that Hernández was released from U.S. Penitentiary, Hazelton in West Virginia on Monday and a spokesperson for the bureau on Tuesday confirmed his release.

His wife Ana García thanked Trump for pardoning Hernández via the social platform X early Tuesday.

“After almost four years of pain, of waiting and difficult challenges, my husband Juan Orlando Hernández RETURNED to being a free man, thanks to the presidential pardon granted by President Donald Trump,” García’s post said. She included a picture of the U.S. Bureau of Prisons listing for Hernández indicating his release.

On Sunday, Trump was asked about why he pardoned Hernandez by reporters traveling with him on Air Force One.

“I was asked by Honduras, many of the people of Honduras,” Trump said.

“The people of Honduras really thought he was set up, and it was a terrible thing,” he said.

“They basically said he was a drug dealer because he was the president of the country. And they said it was a Biden administration set-up. And I looked at the facts and I agreed with them.”

Hernández was arrested at the request of the United States in February 2022, weeks after handing over power to current President Xiomara Castro.

Two years later, he was sentenced to 45 years in prison in a New York federal courtroom for taking bribes from drug traffickers so they could safely move some 400 tons of cocaine north through Honduras to the United States.

Hernández maintained throughout that he was innocent and the victim of revenge by drug traffickers he had helped extradite to the United States.

During his sentencing in New York, federal Judge P. Kevin Castel said the punishment should serve as a warning to “well educated, well dressed” individuals who gain power and think their status insulates them from justice when they do wrong.

Hernández portrayed himself as a hero of the anti-drug trafficking movement who teamed up with American authorities under three U.S. presidential administrations to reduce drug imports.

But the judge said trial evidence proved the opposite and that Hernández employed “considerable acting skills” to make it seem that he was an anti-drug trafficking crusader while he deployed his nation’s police and military, when necessary, to protect the drug trade.

Hernández is not guaranteed a quick return to Honduras.

Immediately after Trump announced his intention to pardon Hernández, Honduras Attorney General Johel Zelaya said via X that his office was obligated to seek justice and put an end to impunity.

He did not specify what charges Hernández could face in Honduras. There were various corruption-related investigations of his administration across two terms in office that did not lead to charges against him. President Xiomara Castro, who had Hernández arrested and extradited him to the U.S., will remain in office until January.

The pardon promised by Trump days before Honduras’ presidential election injected a new element into the contest that some said helped the candidate from his National Party Nasry Asfura, one of the leaders as the vote count proceeded Tuesday.

The Supreme Court is meeting in private Friday with a key issue on its agenda — President Donald Trump ’s birthright citizenship order declaring that children born to parents who are in the United States illegally or temporarily are not American citizens.

The justices could say as soon as Monday whether they will hear Trump’s appeal of lower court rulings that have uniformly struck down the citizenship restrictions. They have not taken effect anywhere in the United States.

If the court steps in now, the case would be argued in the spring, with a definitive ruling expected by early summer.

The birthright citizenship order, which Trump signed on the first day of his second term in the White House, is part of his administration’s broad immigration crackdown. Other actions include immigration enforcement surges in several cities and the first peacetime invocation of the 18th century Alien Enemies Act.

The administration is facing multiple court challenges, and the high court has sent mixed signals in emergency orders it has issued. The justices effectively stopped the use of the Alien Enemies Act to rapidly deport alleged Venezuelan gang members without court hearings, while they allowed the resumption of sweeping immigration stops in the Los Angeles area after a lower court blocked the practice of stopping people solely based on their race, language, job or location.

The justices also are weighing the administration’s emergency appeal to be allowed to deploy National Guard troops in the Chicago area for immigration enforcement actions. A lower court has indefinitely prevented the deployment.

Birthright citizenship is the first Trump immigration-related policy to reach the court for a final ruling. Trump’s order would upend more than 125 years of understanding that the Constitution’s 14th Amendment confers citizenship on everyone born on American soil, with narrow exceptions for the children of foreign diplomats and those born to a foreign occupying force.

In a series of decisions, lower courts have struck down the executive order as unconstitutional, or likely so, even after a Supreme Court ruling in late June that limited judges’ use of nationwide injunctions.

While the Supreme Court curbed the use of nationwide injunctions, it did not rule out other court orders that could have nationwide effects, including in class-action lawsuits and those brought by states. The justices did not decide at that time whether the underlying citizenship order is constitutional.

But every lower court that has looked at the issue has concluded that Trump’s order violates or most likely violates the 14th Amendment, which was intended to ensure that Black people, including former slaves, had citizenship.

The administration is appealing two cases.

The U.S. Court of Appeals for the 9th Circuit in San Francisco ruled in July that a group of states that sued over the order needed a nationwide injunction to prevent the problems that would be caused by birthright citizenship being in effect in some states and not others.