Taiwan is exploring buying arms worth billions of dollars from the United States, sources briefed on the matter said, hoping to win support from the new Trump administration as China continues to apply military pressure on the island.

The package is meant to demonstrate to the United States that Taiwan is committed to its defense, one source said

Taiwan plans to propose a special defense budget that prioritises precision ammunition, air-defense upgrades, command and control systems, equipment for the reserve forces and anti-drone technology, a third source familiar with the matter said.

Iraq's central bank will ban five more local banks from engaging in U.S. dollar transactions, a move that comes after meetings with U.S. Treasury officials in efforts to combat money laundering, dollar smuggling and other violations,

According to a source, the package will include coastal defence cruise missiles and Himars rockets. Read more at straitstimes.com.

As per reports, Taiwan is seeking to purchase billions of dollars worth of arms from the United States to secure support from the new Trump administration as China increases military pressure on the island.