Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Debt ceiling dispute delays US congressional Taiwan trip

Published 05/25/2023, 01:13 PM
Updated 05/25/2023, 01:17 PM
© Reuters. FILE PHOTO: People throng a street in Tamsui district of New Taipei City, Taiwan August 7, 2022. REUTERS/Jameson Wu

WASHINGTON (Reuters) - Negotiators' continuing failure to reach an agreement to lift the U.S. debt ceiling forced the House of Representatives' new China committee to postpone a planned trip to Taiwan, the committee's chairman, Republican Representative Mike Gallagher, told reporters on Thursday.

The House adjourned on Thursday and was not due to return until June 5, four days after June 1, the day the Treasury Department has warned the government could run short of funds to cover all its expenses.

Several members of the House's Select Committee on the Chinese Communist Party were to have left on the Taiwan trip this weekend.

As talks between the leaders of the Republican-majority House and White House continued, House members were told to be prepared to return to the Capitol to vote on potential legislation to raise the debt limit with 24 hours' notice.

High-profile visits to Taiwan by U.S. officials can elicit forceful reactions from Beijing, which considers Taiwan part of its territory. China's military conducted large-scale exercises, fired missiles over Taiwan and cut military contacts with Washington after former House Speaker Nancy Pelosi visited the self-governed island in August 2022.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.