The briefing for Wednesday, February 18.

The Trump administration reached a major trade agreement with Taiwan on Thursday, with Taiwan agreeing to remove or reduce 99% of its tariff barriers. Most Taiwanese exports to the U.S. will now face a 15% tariff rate, matching rates applied to other Asia-Pacific partners like Japan and South Korea. The deal comes as the U.S. remains heavily reliant on Taiwan for computer chip production, which contributed to a trade imbalance of nearly $127 billion during the first 11 months of 2025, according to the Census Bureau.

Under the agreement, Taiwan will invest $250 billion in U.S. industries including semiconductors, artificial intelligence, and energy, with an additional $250 billion available in credit guarantees for smaller businesses. Chip-making giant TSMC is expected to be the key investor, having already committed $165 billion for fabrication plants and a major research and development center in the U.S. In return, the U.S. reduced planned tariffs from as much as 32% initially to 15%, and Taiwan will receive preferential treatment regarding possible tariffs from investigations into semiconductor imports.

The deal deepens economic ties between the U.S. and Taiwan at a sensitive time, coming ahead of President Trump's planned visit to China in April. Taiwan is a self-ruled democracy that China claims as its own territory, and Beijing prohibits countries with diplomatic relations—including the U.S.—from having formal ties with Taipei. The Taiwanese government said the agreement eliminates disadvantages from lacking a formal free trade agreement with the U.S., and will submit the deal to its legislature for approval.

Iran temporarily closed the Strait of Hormuz on Tuesday for live fire military exercises as its negotiators held another round of indirect talks with the United States in Geneva. It marked the first time Iran has announced closure of the critical waterway—through which 20% of the world's oil passes—since the U.S. began threatening Iran and rushing military assets to the region. Iran's state media reported that missiles launched inside Iran and along its coast struck their targets in the Strait, with the closure lasting several hours for "safety and maritime concerns."

The talks in Geneva, which lasted almost three hours, focused exclusively on Iran's nuclear program according to Iranian state TV. U.S. envoys Steve Witkoff and Jared Kushner traveled for the negotiations, meeting separately with Iranian Foreign Minister Abbas Araghchi and mediators at the Omani envoy's residence. Araghchi stated he came with "real ideas to achieve a fair and equitable deal" but emphasized that "submission before threats" was not on the table. President Trump said aboard Air Force One that he believed Iran wanted to make a deal and wouldn't want "the consequences of not making a deal."

Supreme Leader Ayatollah Ali Khamenei warned the U.S. that weapons capable of sinking warships were "more dangerous than the warship" itself, referencing Iran's military capabilities. The USS Gerald R. Ford, the world's largest aircraft carrier, is being sent from the Caribbean to join the USS Abraham Lincoln in the region, marking a significant U.S. military buildup. Iran conducted its second live fire drill in recent weeks in the Strait of Hormuz, Persian Gulf, and Gulf of Oman as tensions continue to escalate over the nuclear standoff.

The United States plans to deploy more high-tech missile systems to the Philippines to help deter aggression in the South China Sea, U.S. and Philippine officials announced Tuesday following annual security talks in Manila. The deployment will include what Philippine Ambassador Jose Manuel Romualdez described as "upgraded" types of U.S. missile launchers that the Philippines may eventually purchase. Beijing has repeatedly expressed alarm over existing U.S. missile deployments, including the Typhon mid-range missile system installed in 2024 and an anti-ship launcher deployed last year, warning these weapons threaten regional stability.

In a joint statement, the longtime allies condemned what they called China's "illegal, coercive, aggressive, and deceptive activities in the South China Sea," recognizing their adverse effects on regional peace and stability. The statement outlined plans to increase deployments of "cutting-edge missile and unmanned systems to the Philippines" while underscoring support for freedom of navigation and lawful commerce. The Typhon system can fire Tomahawk missiles capable of traveling over 1,000 miles, placing China within range from the northern Philippine region of Luzon.

Romualdez emphasized that the missile deployments aim purely for deterrence, not antagonizing any country. "Every time the Chinese show any kind of aggression, it only strengthens our resolve to have these types," he said. The U.S. Marines have deployed the Navy Marine Expeditionary Ship Interdiction System to Batan island in the northernmost province, which faces the strategic Bashi Channel just south of Taiwan—a critical trade and military route that both U.S. and Chinese forces seek to control. Confrontations between Chinese and Philippine coast guard forces have spiked in recent years in the disputed waters, where Vietnam, Malaysia, Brunei, and Taiwan are also involved in territorial standoffs.

Agrochemical maker Bayer announced a proposed $7.25 billion settlement Tuesday to resolve thousands of U.S. lawsuits alleging the company failed to warn that its weedkiller Roundup could cause cancer. The settlement, filed in St. Louis Circuit Court in Missouri, would address about 200,000 Roundup-related claims made against Bayer, including more than 125,000 plaintiffs who sued since 2015. Germany-based Bayer, which acquired Roundup maker Monsanto in 2018, disputes that the key ingredient glyphosate can cause non-Hodgkin lymphoma but has warned that mounting legal costs threaten its ability to continue selling the product in U.S. agricultural markets.

The proposed settlement comes as the U.S. Supreme Court prepares to hear arguments in April on Bayer's assertion that EPA approval of Roundup without a cancer warning should invalidate state court claims. That case would not be affected by the settlement, but the agreement would protect both sides from uncertainty—patients would receive compensation even if the Supreme Court rules for Bayer, while the company would avoid potentially larger costs if the ruling goes against it. Bayer plans to make annual payments into a special fund for up to 21 years, with payouts varying based on how individuals used Roundup, their age at diagnosis, and illness severity.

Under the proposed terms, an agricultural or industrial worker exposed extensively to Roundup would receive an average of $165,000 if diagnosed with aggressive illness before age 60, while a residential user diagnosed between ages 60-77 with less aggressive illness would get an average of $20,000. Those diagnosed at 78 or older would receive an average of $10,000. Attorney Matt Clement, who represents about 280 plaintiffs, said he expects many clients to opt out, calling the proposed payouts "exceedingly too small." If too many plaintiffs opt out, Bayer reserves the right to cancel the settlement, though the company did not specify the threshold. The settlement still requires court approval.

Russian and Ukrainian delegations met in Geneva on Tuesday for another round of U.S.-brokered peace talks, a week before the fourth anniversary of Russia's full-scale invasion. The two-day talks, mediated by U.S. envoy Steve Witkoff and Jared Kushner, brought together military leaders and diplomats from both countries at a horseshoe-shaped table. Ukrainian delegation head Rustem Umerov said the agenda included "security and humanitarian issues" but cautioned against "excessive expectations." Russian officials provided few details, with Kremlin spokesperson Dmitry Peskov warning not to expect developments on the first day.

Expectations for breakthroughs remain low, with neither side appearing ready to budge on key territorial issues despite the U.S. setting a June deadline for settlement. Russia continues to insist Ukraine cede control of its eastern Donbas region, which Ukraine has ruled out. American, Russian, and Ukrainian military chiefs discussed how ceasefire monitoring might work and what's needed to implement it, building on previous talks in Abu Dhabi where they explored demilitarized zones and military communication channels. President Trump told reporters Ukraine "better come to the table fast," though it wasn't immediately clear what he was referring to.

The talks occurred as Russia carried out massive strikes on Ukraine overnight, using almost 400 drones and 29 missiles to hit 12 regions, killing at least three energy workers near Slovyansk and injuring nine people including children. Ukrainian President Zelenskyy said tens of thousands in Odesa were left without heating and running water, stating that Moscow should be "held accountable" for attacks that undermine peace efforts. "The more this evil comes from Russia, the harder it will be for everyone to reach any agreements with them," he said. Russia's delegation is headed by Vladimir Medinsky, Putin's adviser who led Moscow's negotiations in the first direct peace talks in Istanbul in March 2022.

The Justice Department has issued new subpoenas in a Florida-based investigation into perceived Trump adversaries and the U.S. government's response to Russian interference in the 2016 presidential election, according to multiple people familiar with the matter. The latest subpoenas seek records from the years since January 2017, expanding beyond an initial wave in November that requested documents related to preparation of a U.S. intelligence community assessment published that month. The assessment detailed a sweeping effort by Moscow to help Trump defeat Hillary Clinton in the 2016 election.

The subpoenas represent continued investigative activity in one of several criminal inquiries the Justice Department has undertaken into Trump's political opponents. An array of former intelligence and law enforcement officials have received subpoenas, and lawyers for former CIA Director John Brennan, who helped oversee drafting of the assessment, say he has been informed he is a target but have not been told of any "legally justifiable basis for undertaking this investigation." The intelligence community assessment found Russia had developed a "clear preference" for Trump and that Putin had ordered an influence campaign to undermine American democracy and harm Clinton's chances.

Multiple government reports, including bipartisan congressional reviews and former special counsel Robert Mueller's investigation, found Russia interfered through hacking Democratic emails and a covert social media campaign. Mueller's report found the Trump campaign welcomed Russian help but did not establish conspiracy to tip the election. The Trump administration has scrutinized the assessment in part because it incorporated a summary of the "Steele dossier"—Democratic-funded opposition research with uncorroborated rumors that Trump has used to discredit the Russia investigation. Former FBI Director James Comey was indicted by the Trump Justice Department last year on false statement charges, but the case was later dismissed.