The collapse of Baltimore’s Francis Scott Key Bridge is likely to send shock waves across the U.S. economy, as a key shipping route for certain goods remains snarled for the foreseeable future, officials said Sunday.

“This is not [just] a Baltimore catastrophe, not a Maryland catastrophe. This is a national economic catastrophe as well,” Maryland Gov. Wes Moore said Sunday on CNN’s “State of the Union.”

The channel that’s now blocked by the wreckage is a primary access point for the Port of Baltimore, which Moore described as among the “busiest [and] most active” in the nation.

“This is going to impact the farmer in Kentucky. This is going to impact the auto dealer in Ohio. This is going to impact the restaurant owner in Tennessee,” he said.

U.S. Transportation Secretary Pete Buttigieg echoed that sentiment.

“It’s important not just to the people and the workers of Baltimore, but to our national supply chains to get that port back up and running as quickly as possible,” Buttigieg said on CBS’ “Face the Nation.”

The bridge collapsed Tuesday after a large cargo ship crashed into it, following a mayday call shortly before the collision. Two construction workers died; four are missing and presumed dead.

An operation to remove the ship, clear out debris and reopen the channel began Saturday, officials said.

“Parts of the non-federal channel are already being worked on and there is a 1,000-ton-capacity lift crane on a barge being put into place now,” Buttigieg said. There’s another 600-ton crane on the way, he added.

There isn’t yet a timeline for that salvage work to be completed, Buttigieg said. The time frame for the bridge to be rebuilt is also unclear, he said.

Federal and local officials reiterated that the operation would be lengthy and complex.

“We have a ship that is nearly the size of the Eiffel Tower that is now stuck within the channel that has the Key Bridge sitting on top of it,” Moore said. “And so this is going to be a long road. … But movement is happening.”

The Port of Baltimore processed a record 1.1 million containers of cargo in 2023, according to state data. That made it the ninth-busiest port in the nation based on U.S. trade volume, wrote Ryan Petersen, chief executive of Flexport, a supply chain logistics company.

It also handled nearly 850,000 shipments of cars and light trucks in 2023, more than any other port for the 13th consecutive year, according to state data.

“This port is the No. 1 port for cars and farm equipment,” Baltimore Mayor Brandon Scott said Sunday on “Face the Nation.”

“So this matters to folks in rural North Carolina and Kansas and Iowa,” he added. “This matters to the global economy.”

Additionally, there are more than 15,000 people who work directly for the port, and thousands of others whose livelihoods depend on it, Sen. Chris Van Hollen, D-Md., said on ABC’s “This Week.”

The Small Business Administration announced Saturday that it would make low-interest, long-term loans of up to $2 million available to local small businesses in the mid-Atlantic region affected by the bridge collapse.

The U.S. government awarded Maryland an initial $60 million in funding to clear the wreckage. The federal government will cover 90% of the costs to rebuild the bridge, said Van Hollen. He plans to introduce legislation along with Sen. Ben Cardin, D-Md., to cover the remaining 10%, Van Hollen said.

President Joe Biden said Tuesday that he intends for the federal government to pay for the entire cost of rebuilding the bridge, and expects Congress to support that effort.

Some lawmakers have balked at the idea, though. Rep. Dan Meuser, R-Pa., called Biden’s notion of using federal funds to cover the full cost “kind of outrageous.”

While the current Congress is divided, Buttigieg expressed confidence that lawmakers would approve bridge funding on a bipartisan basis.

“If we can see Republicans and Democrats cooperate to get President Biden’s infrastructure package through, surely they can cooperate to help America and Baltimore deal with this tragedy,” he said Sunday on MSNBC.

French President Emmanuel Macron has doubled down on the possibility of sending troops into Ukraine, a day before a key summit with Germany, which is staunchly opposed to the idea.

“We cannot exclude options,” Macron said in a joint interview with TF1 and France 2 TV on Thursday, when asked to revisit controversial comments made in late February. At the time, the French leader refused to rule out the prospective deployment of Western troops into Ukrainian territory — resulting in scorn from Russia and a backlash from Macron’s NATO allies.

“What we are doing is giving ourselves red lines,” the French premier continued on Thursday, in comments translated by CNBC, noting that the international community has placed “too many limits in our vocabulary” regarding the war.

“If we decide today to be weak, if, in the face of someone who has no limits, who has crossed all the limits we have given him, if we naively tell him: ‘I will not go farther than this or that.’ In that moment we don’t decide peace, we decide defeat.”

The French leader declined to specify how he envisages a potential troop deployment into Ukraine, stressing instead that “the security of Europe and the security of the French people is at stake here.”

In response to the comments, Kremlin Spokesperson Dmitry Peskov said, “France is already involved in the conflict in Ukraine and is not averse to increasing its involvement,” according to Google-translated remarks reported by Russian state news agency Tass.

The latest statements by Macron once again risk pitting him against NATO allies, who distanced themselves from the possibility of their own national military deployment in Ukraine in February.

The alliance members face separate pressure to increase their defense spending to a previously agreed target of 2% of their national GDP, with two-thirds of members set to meet this objective this year, according to the latest projections.

“We have the capacity to give Ukraine what it needs. Now we need to show the political will to do so,” NATO Secretary-General Jens Stoltenberg stressed during a press briefing.

NATO member contributions have so far been used to supply ammunition and military equipment and maintenance to Ukraine, rather than sending troops into Ukrainian territory — a move that would position the alliance closer to war with Russia. Foreign volunteers have assisted both Russia and Ukraine in the war so far, but not as part of any formal military deployment.

Macron on Friday is meeting with German Chancellor Olaf Scholz in Berlin for talks that many hope could silence simmering tensions over Ukraine. Polish Prime Minister Donald Tusk will also join them, in a rare meeting of the Weimar Triangle — a regional coalition between the three countries, born in 1991.

Berlin has fought to shrug off its image as a slow responder to the conflict in Ukraine, after stalling approval to send Kyiv its Leopard-2 tanks. It now faces similar calls to deliver its Taurus missiles, which Scholz says would require the involvement of German soldiers to operate.

In February, Scholz joined the chorus of NATO leaders starkly opposing Macron’s position of potentially sending troops into Ukraine, insisting on social media: “It is clear: there will be no ground troops from European countries or NATO. That applies.”

Tusk, whose country has staunchly backed Ukraine in the war, comes fresh from a White House engagement earlier this week, during which he, Polish President Andrezj Duda and U.S. President Joe Biden committed “continued support of Ukraine’s self-defense against Russia’s war of aggression,” according to a readout.

“True solidarity with Ukraine? Less words, more ammunition,” Tusk said on social media on Friday.

Presumptive Republican presidential nominee Donald Trump on Monday raised concerns about efforts to ban Chinese-owned social media app TikTok in the U.S., saying it would only serve to empower Meta’s Facebook platform.

“Without TikTok, you can make Facebook bigger, and I consider Facebook to be an enemy of the people,” Trump, who was formerly U.S. president between 2017 and 2021, said in a CNBC TV interview on Monday.

Acknowledging his concerns around national security and data privacy over TikTok, Trump said “there’s a lot of good and there’s a lot of bad” with the platform.

“There are a lot of people on TikTok that love it. There are a lot of young kids on TikTok who will go crazy without it,” Trump said.

CNBC has reached out to Meta for comment.

TikTok, which is owned by Chinese internet giant ByteDance, has exploded in popularity over the last few years, becoming an international sensation with its short videos.

It has also led regulators to fear that the software’s Chinese ownership would mean that it could share private user data at the request of the Beijing government.

ByteDance, like other Chinese companies, would be forced to disclose such information if asked to do so, experts say. China’s National Intelligence Law of 2017 requires organizations and citizens to “support, assist and cooperate with the state intelligence work.”

In 2020, the Trump administration unsuccessfully tried to have TikTok removed from app stores in the U.S. due to these concerns. Trump subsequently ordered ByteDance to divest TikTok within 90 days. This effort, which at one point saw Microsoft put a bid in for TikTok’s U.S. business, also never came to fruition.

Now, U.S. lawmakers are once again stepping up efforts to tackle concerns surrounding TikTok, with separate pieces of legislation proposing either a divestiture of TikTok by ByteDance, or a full ban. Incumbent President Joe Biden, who has expressed national security concerns over TikTok, has also said he would sign a bill to ban the app, if Congress passes it.

Trump has recently softened his tone, saying he fears a TikTok ban would only serve to make Facebook more powerful.

In Monday’s interview, Trump said that he feels TikTok remains a national security risk, given its Chinese ownership — but he also deflected attention to Facebook, noting that the platform has similar issues concerning privacy and security.

“If China wants anything from [TikTo], they will give it, so that’s a national security risk [that] goes up,” Trump acknowledged. “But when I look at it, I’m not looking to make Facebook double the size. And if you if you ban TikTok, Facebook and others — but mostly Facebook — will be a big beneficiary, and I think Facebook has been very busy.”

“I think Facebook has been very bad for our country, especially when it comes to elections,” Trump added.

Russian President Vladimir Putin said he preferred Joe Biden as the next U.S. president over Republican frontrunner Donald Trump, who fell under intense scrutiny for his relationship with the Kremlin during his presidency.

“[Biden] is more experienced and more predictable. He is an ‘old school’ politician. But we will work with any US leader, elected by the people of America,” Putin told journalist Pavel Zarubin late Wednesday, according to Russian state-controlled news outlet Tass.

The Trump and Biden presidential campaigns did not immediately respond to CNBC’s requests for comment.

Putin’s comments followed a week of international controversy over Trump’s recent NATO remarks and mounting tensions between U.S. Democrats and Republicans over a $95 billion aid package that includes military aid to Ukraine.

The Kremlin head of state will stand in his own election on 15-17 March, but is widely expected to clinch another presidential mandate after leading Russia as prime minister or head of state since 1999.

In the same interview, Putin also appeared to dismiss recently mediatized concerns over Biden’s mental acuity after Department of Justice special counsel Robert Hur said the White House leader “willfully retained and disclosed classified materials” and exhibited poor memory during a relevant interview. Biden has disputed the claims.

Referencing their meeting in Geneva, Switzerland, in 2021, Putin said he had noticed no signs of incapacity from Biden. “Yes, he was peeking at his notes from time to time, but, frankly speaking, I was peeking at mine as well,” Putin said, adding that there were “reports of [Biden] banging his head on the helicopter while leaving it, but who didn’t?”

Despite these apparently favorable comments, Putin stressed ongoing disagreement with Biden’s politics, saying “the incumbent administration’s approach is most harmful and erroneous.”

Biden assumed office roughly one year before Moscow’s ongoing full-scale invasion of Ukraine in February 2022. His administration has staunchly backed Kyiv with military and financial aid, and Biden has led the White house through a period of deteriorating relations with the Kremlin.

Putin has in turn distanced Moscow from Western countries — which have overwhelmingly sanctioned Russia and its officials — and sought fresh ties with various emerging markets, especially China and Iran.

Putin’s apparent stance of distancing himself from Trump is notable given historical questions over the strength of the pair’s relationship. Trump was probed during a nearly two-year special counsel investigation of Russian interference in the election that he won. The former president repeatedly denied claims that he had fallen under the Kremlin’s influence.

During a campaign rally in South Carolina late last week, Trump signaled that he would “encourage” Russia “to do whatever the hell they want” to a country member of the NATO military coalition that did not meet its defense spending commitments — triggering widespread international outrage and criticism from NATO chief Jens Stoltenberg that his comments are undermining the security of all NATO allies.

Biden characterized Trump’s comments as “dumb,” “shameful,” “dangerous” and “un-American,” suggesting a close connection between the former U.S. president and the Russian head of state, and introducing distance between himself and Putin. 

“Can you imagine? A former president of the U.S. saying that? The whole world heard it. The worst thing is he means it. No other president in our history has ever bowed down to a Russian dictator. And let me say this as clearly as I can: I never will,” Biden said.

The broader Republican party’s support of Ukraine faces an imminent test after a $95 billion bill passed by 70-29 in the Democrat-led U.S. Senate earlier this week. The aid package — which includes assistance for Ukraine, Israel and Taiwan — must win support from the Republican-helmed House of Representatives before becoming law.

President Joe Biden won a landslide victory in South Carolina’s Democratic primary Saturday, where voters sent a clear message that they are ready for Biden to pivot to the November election.

As of 12:00 a.m. ET, Sunday, Biden had won 96.2% of ballots cast, with 97% of the total votes tallied.

The other two Democrats on the ballot, House Rep. Dean Phillips, D-Minn., and self-help author and 2020 Democratic candidate Marianne Williamson each won around 2% of ballots.

The win injects fresh momentum into Biden’s reelection campaign, and it offers a compelling rebuttal to the narrative that Democratic voters are ambivalent — or worse — about their party’s standard bearer.

“In 2020, it was the voters of South Carolina who proved the pundits wrong, breathed new life into our campaign, and set us on the path to winning the Presidency,” Biden said in a statement following Saturday’s results.

“Now in 2024, the people of South Carolina have spoken again and I have no doubt that you have set us on the path to winning the Presidency again — and making Donald Trump a loser — again.”

Biden will be awarded all 55 of the state’s Democratic delegates, NBC News projects, as neither Williamson nor Phillips broke the 15% threshold for being awarded any delegates. 

Biden’s overwhelming margin of victory left no question about who Democratic voters want to be on the ballot in November. 

But it came amid reports of lower than expected turnout, potentially a sign of weakened enthusiasm for Biden among Democrats. 

In 2020, approximately 16% of the state’s 3.3 million registered voters cast ballots in the Democratic primary. On Saturday, that number dropped to roughly 4% of voters.

In particular, polls have shown Biden’s support lagging among Black voters, a core Democratic party bloc that was key to his 2020 win. 

Black voters account for a majority of the Democratic electorate in South Carolina, so his victory there Saturday could help to ease some of those concerns. 

Biden’s campaign has also been under pressure to show momentum, a real challenge this year given that Democrats’ official primary season kicked off late. 

In Iowa, the Democratic party decided not to cast any ballots at their caucuses, denying Biden the chance to win there. 

In New Hampshire, Biden’s name was not on the formal ballot, but he won the contest as a write-in candidate with 64% of the vote.

Republicans will vote in their party primary on Feb. 24, where former South Carolina Gov. Nikki Haley will attempt to pull off an upset in her home state, against former President Donald Trump.

The GOP primary is expected to garner much higher turnout and more attention than Saturday’s vote.

Unlike the Republican battle, the Democratic primary has, so far, been notable for its civility.

“Congratulations, Mr. President, on a good old fashioned whooping,” Phillips wrote on X.

TAIPEI — Taiwan’s ruling Democratic Progressive Party won an unprecedented third-straight presidential term, as incoming leader Lai Ching-te pledged to stay open-minded in his approach toward governance, while committing to forging consensus in a split legislature.

The outcome of the presidential election on Saturday riled Beijing, which has repeatedly labeled Lai as a “stubborn worker for Taiwan independence” and a dangerous separatist. There are also fears this could in turn influence frosty China-U.S. relations and security in the broader Indo-Pacific region, with China having escalated military activity in the Taiwan Strait and other nearby waters.

“As president, I have an important responsibility to maintain peace and stability in the Taiwan Straits,” Lai said in a press conference, in an official party translation of his comments in Mandarin. He added though that he is also “determined to safeguard Taiwan from threats and intimidation from China.”

“I will act in accordance with our democratic and free constitutional order, in a manner that is balanced and maintains the cross-Straits status quo,” he added. “Under the principles of dignity and parity, we will use exchanges to replace obstructionism, dialogue to replace confrontation, and confidently present exchanges and cooperation with China.”

The Chinese Communist Party has refused to engage with outgoing President Tsai Ing-wen since she assumed office in 2016. Tsai did not stand at this election because she has served the maximum two presidential terms.

The DPP has not accepted the so-called “1992 Consensus,” disputing the tacit agreement for “one China” between the then-KMT government and Chinese Communist Party officials, which Beijing assumes as the basis for cross-Straits engagement.

Still, in his post-election comments in Mandarin, Lai invoked the official name of Taiwan — the Republic of China — at least twice.

DPP’s Lai — Taiwan’s current vice-president — won more than 40% of the popular vote in Taiwan’s eighth presidential election. DPP is the first party to win the presidential office three times in row since direct presidential elections were introduced in 1996. Beijing had framed the election as a choice between “peace and war, prosperity and decline.”

Kuomintang or KMT, Beijing’s preferred political partner, gained roughly 33% of the vote with Hou You-yi at the top of its ticket. Ko Wen-je — the surly, straight-talking former Taipei mayor who ran under the banner of the Taiwan People’s Party that was formed only in 2019 — received just over 26% of the vote.

Voter turnout appeared to be the second-weakest since direct presidential elections started in Taiwan in 1996. This year, 71.9% of all eligible voters cast their ballots for the presidential election, according to preliminary data from Taiwan’s Central Election Commission.

China dismissed the outcome of Taiwan’s Saturday elections, saying its ruling Democratic Progressive Party does not represent the mainstream public opinion.

“Taiwan is China’s Taiwan,” Chen Binhua, the spokesperson for the Taiwan Affairs Office of the State Council, said on Saturday shortly after DPP’s Lai emerged as the winner.

“This election cannot change the basic pattern and the development of cross-Strait relations, nor can it change the common desire of compatriots on both sides of the Taiwan Strait to draw closer,” Chen added, according to a CNBC translation of a report from Xinhua, the official state news agency.

China has never relinquished its claim over Taiwan — which has been self-governing since the Chinese nationalist party, or Kuomintang, fled to the island following its defeat in the Chinese civil war in 1949.

Chinese President Xi Jinping regards reunification with the mainland “a historical inevitability.”

The U.S. response starkly differed, but was broadly consistent with its past positions.

“We … congratulate the Taiwan people for once again demonstrating the strength of their robust democratic system and electoral process,” U.S. Secretary of State Antony Blinken said in a statement.

“The United States is committed to maintaining cross-Strait peace and stability, and the peaceful resolution of differences, free from coercion and pressure,” he added.

The outcome of the race to control Taiwan’s 113-seat legislature though is far less clear, with the DPP losing its majority. A hung parliament could well hobble Lai’s policy agenda, while heralding a return of the kind of notorious open feuding among Taiwan’s legislators.

“On the legislative elections, the DPP did not hold onto a majority,” Lai said. “This means we did not work hard enough, and there are areas where we must humbly review and look back on.”

As it stands, the new Taiwan government will have its hands full, with voters largely concerned with bread-and-butter issues, particularly stagnant wages at a time of escalating rents and home prices that have been worsened by high inflation.

These issues have largely helped buoy Ko’s popularity as he positioned himself as a political outsider. 

“Taiwan People’s Party got more votes than expected. Ko got 25%, showing there is still a significant number of voters wanting a change,” Wei-Ting Yen, an assistant professor in government at Franklin and Marshall College, told CNBC.

“The social force is there, and the Lai administration has to address the social and economic issues right on,” she said. “People may be supporting the DPP’s foreign policy directions, but they are not necessarily supporting them for domestic policies.”

At the same press conference on Saturday after his two opponents conceded, Lai said he will carefully consider and include policy ideas and positions of his two electoral rivals that further Taiwan’s interests.

In a nod to issues that dominated the presidential election campaign, Lai singled out the financial sustainability of Taiwan’s labor and health insurance, along with the country’s energy transition as urgent issues that he will prioritize in forging consensus.

Lai also said he will appoint the most qualified professionals and personnel regardless of political affiliations in the “spirit of a democratic alliance.”

“The elections have told us that the people expect a strong government and effective checks and balances,” Lai said. “As for the new structure of the new legislature, Taiwan must build a new political environment of communication, consultation, participation, and cooperation.”

Still, Lai also had one eye on the broader strategic significance of his electoral victory — however diminished it may seem in comparison to the DPP’s comfortable victory in the presidential and legislative elections in 2016.

“Through our actions, the Taiwanese people have successfully resisted efforts from external forces to influence this election. We trust that only the people of Taiwan have the right to choose their own president,” Lai said.

Taiwan’s DPP-led government has often accused Beijing of vote interference either by military intimidation or by co-opting Taiwan’s business elite due to their economic reliance on China.

In the run-up to Saturday’s vote, Lai said that Beijing’s meddling is “the most serious” at this elections.

Xi told U.S. counterpart Joe Biden on the sidelines of the APEC leaders summit in November that Taiwan has always been the “most important and sensitive” issue in China-U.S. relations.

Prior to Saturday’s elections, a senior Biden administration official said the White House is preparing for several different outcomes. Biden has pledged to defend Taiwan in the event of a China invasion, a position that has irked Beijing.

Former U.S. House Speaker Nancy Pelosi visited Taiwan in 2022, becoming the highest-ranking U.S. official to visit the island in over two decades. Her trip was one reason that communication between the world’s two leading powers ground to a halt before a tentative resumption only months ago.

“As one of the first and most highly anticipated elections of 2024, Taiwan has achieved a victory for the community of democracy,” Lai said. “We are telling the international community that between democracy and authoritarianism, we will stand on the side of democracy.”

More than 19 million voters in Taiwan headed to the polls on Saturday to decide if the ruling Democratic Progressive Party should earn an unprecedented third consecutive presidential term — or if a leadership change is in order.

The traditional DPP-Kuomintang duopoly is being challenged this year by the emergence of former Taipei mayor Ko Wen-je and his Taiwan People’s Party. With a legislative majority also at stake at these elections, there are fears of a hung Parliament, which could hobble policymaking and herald a return of notorious confrontations between feuding legislators.

With China intensifying its rhetoric on its claim over Taiwan, global observers are billing this Taiwan election as highly pivotal for security in the Asia-Pacific at a time of testy U.S.-China relations.

Local voters though are mainly concerned about the incumbent DPP’s patchy policy record. It comes amid stagnant wages in the face of persistently high inflation and rising home prices and rent.

“In a two-way presidential race, it’s easy to frame it as a binary, a dichotomous, de facto referendum on China policy. When you have a three-way race, it can’t be nearly as effective a framing,” said Wen-Ti Sung, a non-resident fellow at American think tank Atlantic Council’s Global China Hub.

“That’s why I talk about change versus continuity, because that allows more variables with policy issues at the domestic level to get into the equation more. That’s Ko Wen-je’s primary effect for me,” he added.

Some of the more common concerns that have emerged in pre-election rallies and debates include lingering resentment over outgoing President Tsai Ing-wen’s controversial rollout of locally manufactured Covid vaccines at the height of the pandemic and criticism of a perceived broader lack of transparency.

These issues have helped buoy Ko’s popularity as he positions himself as a political outsider. Ko has picked Cynthia Wu, the eldest daughter of a prominent business family, as his vice presidential nominee.

“In particular, young voters, who typically do not have strong party affiliations, arguably care more about who can offer solutions to the longstanding issues of low wages and high housing prices, which have not significantly improved over the past DPP and KMT administrations,” said Jing Bo-jiun, senior research fellow in Taiwan Studies at the University of Oxford.

The latest official wage data show average monthly regular earnings of full-time Taiwanese employees rose about 2.2% in October from a year ago, while headline inflation was more than 3% that same month.

“This could be one of the main reasons that TPP’s Ko Wen-je has been popular among the young population, who hope that this non-traditional politician can come up with new policies to improve their lives,” Jing added.

With Tsai stepping aside due to term limits after serving two full terms, Ko will come up against the DPP’s presidential nominee this year: Tsai’s current vice-president Lai Ching-te. He has nominated Hsiao Bi-khim — most recently the Taiwanese envoy to the United States — as his vice president.

If Lai and Hsiao win the Jan. 13 vote for the Taiwan presidential office, it would mark the first time any political party has stayed in office for more than two consecutive terms since Taiwan introduced direct presidential elections in 1996.

The DPP duo will face Kuomintang’s presidential nominee Hou Yu-ih and vice-presidential nominee Jaw Shaw-kong, who is a prominent local television personality and talk show host. Hou was formerly the director-general of Taiwan’s National Police Agency and the current mayor of New Taipei City, the municipality that encloses the city of Taipei but not the capital.

“There is arguably a more anti-establishment streak among younger voters, who see both the KMT and DPP as old, ineffective, and even corrupt party machines. Ko’s stronger support among those 30-ish and lower is a good indicator of this,” said Kevin Luo, an assistant professor in political science at University of Minnesota.

Risking that support, the TPP was in talks with KMT about an alliance to field a team that is less antagonistic toward China. That plan though dramatically fell apart on live television ahead of the nomination deadline in late November when both parties could not agree on the leader for the joint ticket.

This has led to concerns the change vote would split even for the parliamentary election, perhaps even leading to a hung parliament.

“Regarding relations with China or the US, my concern would be that it provides an opportunity for mixed messages from Taiwan, one that China may try to exploit,” said Timothy S. Rich, a professor in political science at Western Kentucky University.

“Overconfidence in US support coupled with an unfriendly legislature would make responding to a growing security threat from China not only more difficult, but could lead to miscalculations,” he added.

Chinese President Xi Jinping told his U.S. counterpart Joe Biden that Taiwan has always been the “most important and sensitive” issue in the China-U.S. relations when they met on the sidelines of the APEC leaders summit in November.

“The reunification of the motherland is a historical inevitability,” Xi said in his 2024 New Year’s address, according to a CNBC translation.

Biden has pledged to defend Taiwan in the event of a China invasion, irking Beijing.

Former U.S. House Speaker Nancy Pelosi visited Taiwan in 2022, becoming the highest-ranking U.S. official to visit the island in over two decades. Her trip was one reason that communication between the world’s two leading powers grounded to a halt before a tentative resumption only just months ago.

China has never relinquished its claim over Taiwan — which has been self-governing since the Chinese nationalist party, or Kuomintang, fled to the island following its defeat in the Chinese civil war in 1949.

China’s Taiwan affairs office has characterized the self-ruled island’s election as a choice between “peace and war, prosperity and decline.”

The election comes as China has escalated military activity in the Taiwan Strait and other nearby waters as Beijing presses its sovereignty claims over an island it sees as its own.

Taiwan’s DPP-led government has often accused Beijing of vote interference either by military intimidation or by co-opting Taiwan’s business elite due to their economic reliance on China.

“Peace is priceless, and war has no winners,” said DPP’s Lai at a pre-election press conference in Taipei on Tuesday. “China has always meddled whenever there is an election in Taiwan, but this time, it’s the most serious.”

Weeks before the elections in late December, China suspended tax concessions on 12 chemical compound imports from Taiwan in retaliation for what Beijing deems to be a violation of the Cross Straits Service Trade Agreement.

The timing of China’s probe has led Taiwanese government officials to conclude that Beijing’s aims are more political rather than economic.

“This election will not be won over a specific policy or even cross-Strait relations,” said Charles Wu, an assistant professor in political science at University of South Alabama.

“It provides an opportunity to see if citizens in Taiwan would still be willing to let the DPP govern the country for the next four years.”

Correction: The story has been updated to accurately reflect that former U.S. House Speaker Nancy Pelosi visited Taiwan in 2022.

Oil prices rose after Britain and the United States carried out military strikes against targets in Houthi-controlled areas of Yemen, as tensions in the Red Sea mount further.

Global benchmark Brent was trading around 4% higher at 6 a.m. ET Friday, $80.55 a barrel, while the U.S. West Texas Intermediate futures climbed 4.22% to $75.07 per barrel.

“These targeted strikes are a clear message that the United States and our partners will not tolerate attacks on our personnel or allow hostile actors to imperil freedom of navigation in one of the world’s most critical commercial routes,” U.S. President Joe Biden said in a statement Thursday evening.

While the U.S. has carried out strikes on Iranian proxies in Syria and Iraq since the outbreak of the Gaza war, this would be the first known strike against the Iran-backed Houthis in Yemen.

The Houthis have been attacking vessels in the Red Sea, targeting global shipping vessels including those from the U.S. and Israel, in retaliation for the war in Gaza that has so far killed nearly 23,000 people in the Palestinian enclave.

Major shipping companies stopped traversing the Suez Canal and Red Sea routes in early December, choosing to reroute via southern Africa instead. That’s resulted in longer and more expensive journeys which pushed up ocean freight rates.

In a televised speech on Thursday, the leader of Yemen’s Houthis, Abdul-Malik al-Houthi, vowed that any American attack on the group will not go without response.

“We will confront the American aggression. Any American aggression will never remain without a response,” he said, cautioning that the response will be greater than “at the level of the recent operation” that the group is carrying out at sea.

In announcing the strikes on Thursday, Biden vowed he “will not hesitate to direct further measures to protect our people and the free flow of international commerce as necessary.”

OpenAI’s board of directors said Friday that Sam Altman will step down as CEO and will be replaced on an interim basis by technology chief Mira Murati.

The company said it conducted “a deliberative review process” and “concluded that he was not consistently candid in his communications with the board, hindering its ability to exercise its responsibilities.”

“The board no longer has confidence in his ability to continue leading OpenAI,” the statement said.

OpenAI’s board includes chief scientist Ilya Sutskever and independent directors such as Quora CEO Adam D’Angelo, technology entrepreneur Tasha McCauley, and Helen Toner of the Georgetown Center for Security and Emerging Technology. OpenAI says the board of its 501(c)(3) is the “overall governing body for all OpenAI activities.”

The board also said that Greg Brockman, OpenAI’s president, “will be stepping down as chairman of the board and will remain in his role at the company, reporting to the CEO.”

Sam Altman acknowledged that he was leaving OpenAI in a post on X on Friday, but did not mention any accusations by the firm’s board that he failed to be candid during unspecified reviews. He said he loved working at the company and that he would talk more about “what’s next later.”

Regarding the appointment of Murati, OpenAI said, “As the leader of the company’s research, product, and safety functions, Mira is exceptionally qualified to step into the role of interim CEO. We have the utmost confidence in her ability to lead OpenAI during this transition period.”

OpenAI, which has raised billions of dollars from Microsoft and ranked first on CNBC’s Disruptor 50 list this year, jumped into the mainstream in late 2022 after releasing its AI chatbot ChatGPT to the public. The service went viral by allowing users to convert simple text into creative conversation and has pushed big tech companies such as Alphabet and Meta to step up their investments in generative AI.

Microsoft shares slipped after the announcement, closing the day down 1.7% at $369.84.

A Microsoft spokesperson said in a statement that the company has “a long-term partnership with OpenAI and Microsoft remains committed to Mira and their team as we bring this next era of AI to our customers.”

In a post on X, Microsoft CEO Satya Nadella commented about his company’s “long-term agreement with OpenAI,” explaining that it would “remain committed to our partnership, and to Mira and the team.” Nadella did not address Altman’s departure.

Brockman also shared a post on X that included the message he sent to his former OpenAI colleagues, informing them that he “quit” after he learned about “today’s news.”

Later in the evening, Brockman said in an X post that both he and Altman were “shocked and saddened by what the board did today.”

Sutskever instigated a virtual meeting with Altman that the rest of the OpenAI board attended except Brockman, the now-former OpenAI president claimed in the X post. It was during this meeting that Sutskever allegedly fired Altman, telling him “that the news was going out very soon,” Brockman wrote.

Less than half-an-hour later, Brockman claimed to have received a text message from Sutskever, in which the chief scientist summoned for another virtual meeting. At this meeting, Brockman said he learned of Altman’s firing and that he was being removed from OpenAI’s board, but was assured to be “vital to the company and would retain his role.”

“As far as we know, the management team was made aware of this shortly after, other than Mira who found out the night prior,” Brockman said in the post, which was quickly followed by a separate message from Altman.

Altman said in an X post that “today was a weird experience in many ways. but one unexpected one is that it has been sorta like reading your own eulogy while you’re still alive.”

“if i start going off, the openai board should go after me for the full value of my shares,” Altman said in another X post.

OpenAI debuted in 2015 as a nonprofit and employed Sutskever as research director and Brockman as chief technology officer. The firm’s original investors included several prominent Silicon Valley luminaries like Altman, LinkedIn co-founder Reid Hoffman and Tesla CEO Elon Musk, who reportedly committed $1 billion to the project.

Before taking over as CEO, Altman, 38, was president of startup accelerator Y Combinator and gained prominence in Silicon Valley as an early-stage investor. Earlier in his career, he started the social networking company Loopt.

As OpenAI’s popularity grew this year alongside ChatGPT, so too did Altman’s profile. He became an ambassador of sorts, representing the ballooning AI industry across the globe.

In September, Indonesia awarded Altman the so-called “Golden Visa,” providing him with 10 years worth of various travel accommodations and perks intended to help the country gain more foreign investors.

Altman visited several Asia-Pacific countries over the summer including Singapore, India, China, South Korea and Japan, meeting with government leaders and officials and giving public speeches on the rise of AI and the need for regulations.

The technologist testified before the U.S. Senate in May, calling on lawmakers to regulate AI, citing the technology’s potential to have a negative impact on the job market, the information ecosystem, and other societal and economic concerns.

“I think if this technology goes wrong, it can go quite wrong,” Altman said at the time. “And we want to be vocal about that. We want to work with the government to prevent that from happening.”

In a prelude to his Senate testimony, Altman also spoke at a dinner with roughly 60 lawmakers, who were reportedly wowed by his speech and demonstrations.

“It’s not easy to keep members of Congress rapt for close to two hours,” said Rep. Ted Lieu, D-Calif., vice chair of the House Democratic Caucus, who co-hosted the dinner with GOP Conference Vice Chair Mike Johnson, R-La., now House speaker. “So Sam Altman was very informative and provided a lot of information.”

More recently, Altman spoke this week at the Asia-Pacific Economic Cooperation conference in San Francisco, along with various technology executives and world leaders including U.S. President Joe Biden and Chinese President Xi Jinping.

OpenAI held its first developer conference in early November, underscoring the startup’s rising popularity in the technology industry. Microsoft CEO Satya Nadella made a surprise guest appearance during the event, joining Altman on stage to discuss the startup’s AI technologies and its partnership with Microsoft.

Altman didn’t immediately respond to a request for more information.

— CNBC’s Lora Kolodny contributed to this report.

WATCH: OpenAI says Altman exiting as CEO

Russia is watching very closely as Western nations try to build alliances in what has traditionally been seen as its “backyard” and sphere of influence.

One top official in Moscow was fuming as he claimed the West was “luring” its “neighbours, friends, and allies” away from Russia.

The latest Western leader to court Central Asia is French President Emmanuel Macron. Visiting oil- and mineral-rich Kazakhstan on Wednesday, he complimented the former Soviet state for refusing to side with Moscow against Ukraine.

“I don’t underestimate by any means the geopolitical difficulties, the pressures … that some may be putting on you,” Macron said as he addressed his Kazakh counterpart, President Kassym-Jomart Tokayev, in Astana.

“France values … the path you are following for your country, refusing to be a vassal of any power and seeking to build numerous and balanced relations with different countries,” he said.

Macron visited Uzbekistan on Thursday, with a delegation including business leaders as France looks to forge deeper ties in a region rich in natural resources, from oil and gas to uranium.

The French leader’s comments are likely to have enraged Moscow, which is already watching Western efforts to court Central Asia with suspicion and disdain. CNBC has asked the Kremlin to comment on Macron’s trip and is awaiting a response.

Russian Foreign Minister Sergei Lavrov said in an interview last week that the West was trying to pull Russia’s “neighbours, friends and allies” away from it.

“Look at how Western powers are wooing Central Asia,” Lavrov told the BelTA news agency, in comments published by Russia’s Foreign Ministry.

“They have created numerous formats such as ‘Central Asia plus’ involving the United States, the EU, and Japan … On top of the Central Asia plus EU format, the Germans have created their own format. The French won’t be wasting time and will do the same,” he said.

“These frameworks for diplomatic engagements are aimed at luring our Central Asian neighbours, friends, and allies towards the West which promises them economic and trade incentives and delivers relatively modest aid programmes.”

Lavrov said alliances with the West could not be “compared with the benefits the Central Asian countries enjoy from cooperating with Russia … in sensitive areas such as border security, law enforcement training, and traditional security.”

He claimed that Western countries were “funneling money and resources into equipment and technology supplied to these regions” in a bid to woo them, adding, “We openly discuss these matters with our Central Asian brothers.”

Mark Galeotti, a London-based political scientist, lecturer and author of several books on Russia, told CNBC Thursday that Macron’s visit to Central Asia would have touched a nerve in Moscow but that Central Asia had increasingly been looking elsewhere, to Europe, China and the United States, for trade and security guarantees.

“Yes, the Russians are grumbling at what they see as Macron’s posturing … but it’s more that this kind of initiative reminds them of the fact that, really, they are losing their authority in Central Asia.”

“There clearly is concern [in Russia at Central Asia’s geopolitical trajectory], but more than anything else, I think the concern is driven by a painful awareness, that, in a way, Central Asia has already been lost,” Galeotti said.

“Essentially, Moscow’s main hold on Central Asia had long been, essentially, as a security guarantor,” he noted, adding that “Russia was the country you went to when you were looking for assistance in security matters.”

“But ever since February of last year [when it invaded Ukraine], we’ve seen a very rapid decline in Russia’s authority in Central Asia.”

The degree to which a sense of “brotherhood” is felt in Central Asia’s leadership toward Russia is debatable.

Central Asian states have to tread a fine line with Moscow, being careful not to alienate or antagonize their powerful neighbor while also trying to forge their own independent international trade and foreign policies with the West and China.

This ambivalent position has often led Central Asian states “sitting on the fence” when it comes to certain geopolitical matters, such as the war in Ukraine.

Kazakhstan and Uzbekistan, as well as neighboring Turkmenistan and Kyrgyzstan, were among 35 U.N. members that abstained on a U.N. General Assembly resolution condemning Russia’s annexation of four mostly Russian-occupied territories in Ukraine last year. Central Asian state Tajikistan was absent from the vote.

Only one of Russia’s neighbors, Belarus — its closest ally in its backyard — was among the five countries to reject the resolution condemning the annexation of the Donetsk, Kherson, Luhansk and Zaporizhzhia regions. The other countries were North Korea, Nicaragua, Russia and Syria.

Central Asian states have been accused of helping Russia to dodge Western sanctions imposed on it for the invasion of Ukraine, with European and Chinese products exported to Central Asia and then funneled into Russia.

Nonetheless, the war in Ukraine has created the irony that a distracted Russia has lost a degree of power, control and leverage over its own wider “backyard” made up of former Soviet states, stretching from the South Caucasus region — which includes Armenia, Azerbaijan and Georgia — to Central Asia.

Russia has already felt aggrieved to see former Soviet republics incorporated into the West, such as Latvia, Lithuania and Estonia, and to watch as others like Ukraine, Georgia and Moldova head in the same direction. Kyiv’s leaning toward the West over the past 20 years laid the foundation for the conflict we see today, with Russia looking to reassert its power and influence over its neighborhood.

Russia’s “final backstop of authority was the possibility that it could invade or intervene,” Galeotti noted, “but now, with 97% of the Russian army mired in Ukraine, no one’s really worried about that anymore.”

There’s certainly a tussle for influence that’s taking place in Central Asia, with China also “courting” the region to a certain extent.

China held a summit with Central Asian states in early summer, months before U.S. President Joe Biden met with the leaders of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan in September, as part of the first ever presidential summit of the “C5+1” format launched in 2015. The group pledged to expand their economic and security cooperation.

Alexander Titov, lecturer in modern European history at Queen’s University of Belfast, told CNBC that the position of Central Asian states — “squeezed” between Russia to the west, China to the east and Afghanistan to the south — added complexity and nuance to the region’s international relations.

“Central Asian republics have to play their own game in the sense that they are in this region where Russia is an important player, as well as China. China has become a bigger economic presence than Russia in Central Asia,” he noted, particularly when it comes to oil and particularly gas consumption, with China accelerating the construction of a pipeline to source gas from Turkmenistan, despite Russia’s attempts to push its own pipeline proposals with Beijing.

Still, while Russia has been vocally critical of Europe’s and the U.S.’ engagement with Central Asia, it has been ostensibly less so when it comes to its ally China. Analysts say this is based on Moscow’s calculation that China will remain more of a backseat partner in the region, for now at least.

“While there clearly is alignment between Russia and China when it comes to Central Asia, and particularly when it comes to keeping ‘the West’ out of the region after the withdrawal from Afghanistan, Russia is unlikely to relinquish completely its traditional grip on the region, nor is China likely to actively wrestle Moscow for greater control in the near future,” global security analysts Anastassiya Mahon and Stefan Wolff wrote in analysis for the U.K.-based Foreign Policy Centre think tank.

“While there is undoubtedly a rebalancing of power afoot between Russia and China, this is likely to take the form of a gradual power transition.”

The analysts noted that “while the West will hardly be seen as an alternative in such a hegemonic power transition from Russia to China, the transition itself, nevertheless, offers opportunities.”

The U.S., U.K., and EU can strengthen their own engagement and cooperation with Central Asia, they noted, “precisely because this presents the states there with a chance for some re-balancing of their own and for strengthening their traditional aspiration for a multi-vector foreign policy.”