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The US and Taiwan finalized a trade agreement aimed at reducing tariffs, enhancing market access for American goods in Asia, and strengthening economic ties. The deal aims to benefit both regions by promoting closer economic collaboration, increasing exports, and supporting mutual growth. It marks a significant step in their ongoing economic partnership.

Taiwan and the United States have recently signed a significant trade agreement aimed at strengthening their economic partnership. This pact signifies a boost in bilateral trade relations, fostering greater cooperation across various sectors including technology, manufacturing, and agriculture. The agreement is seen as a strategic move to enhance Taiwan’s economic stability and resilience in the face of regional challenges.

The trade pact also emphasizes commitments to fair trade practices and intellectual property protections, which are crucial for innovation-driven industries in Taiwan. For the United States, this agreement reinforces its support for Taiwan’s role as a vital economic partner in the Indo-Pacific region. Both nations aim to create a more predictable and transparent trading environment to benefit businesses and consumers alike.

This development comes amidst increasing geopolitical tensions in the Indo-Pacific. The trade pact not only bolsters economic ties but also signals shared commitments to stability and cooperation in the region. It highlights the importance Washington places on supporting Taiwan’s economic growth and sovereignty through strategic partnerships.

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The Swindon-based furniture retailer posted an operating loss of £4.2m for the year to June 2025, a two-thirds reduction on the previous year

Oak Furnitureland is planning further showroom expansion following an improvement in its profitability. The Swindon-based retailer is aiming to open a series of new stores throughout 2026, following the successful launch of a new showroom in Coventry this past September.

It is also planning to refurbish at least half of its existing store estate by the end of June. Despite posting an operating loss of £4.2m for the year ending June 2025, this represents a two-thirds reduction on the previous year.

Over the course of the year, revenue grew by two per cent to £240.5m, with sales growth accelerating to five per cent in the seven months since the firm’s financial year end. The company, which operates 69 showrooms across the UK, said it had continued to gain market share in a broadly flat market.

This was achieved by innovating its range and diversifying into new categories beyond traditional solid wood cabinetry, whilst also making the brand more accessible through the introduction of no-deposit, interest-free credit offers.

Oak Furnitureland chief executive Alex Fisher said: “Customers are increasingly making more considered purchases, opting for durable, long-life products for their homes.”

He added: “Our objective to take our brand beyond cabinetry and into the whole home, innovate our ranges, and make our offer more accessible to even more customers is now starting to deliver.”

Oak Furnitureland collapsed into administration in 2020 before being rescued by US private equity firm Davidson Kempner Capital Management, as reported by City AM.

The firm was previously the football kit sponsor for football club Burnley.

Oak Furnitureland’s results come after the boss of rival retailer Dunelm warned of continued subdued consumer confidence and said more and more cost-conscious shoppers were looking out for deals and discount prices.

“Customer confidence has remained low over a prolonged period of time,” said Clo Moriarty.

“What that tells me is that every pound of disposable income is hard-earned by retailers and a lot of thought goes in by customers on how and where to spend it.

“We’re definitely seeing high levels of discounting with customers looking for deals. But in equal measure we can see customers now keen to look at what’s fresh for the season.”

Last week, Dunelm reported a 3.6 per cent sales growth to £926m for the second half of 2025, whilst pre-tax profit slipped 7.5 per cent to £114m.