Pentagon says Lockheed Martin gets $328.5 million Taiwan military sale contract

WASHINGTON, Dec 31 – The Pentagon said on Wednesday that Lockheed Martin was given a contract involving foreign military sales to Taiwan to meet what Washington calls “an urgent operational need” of the Taiwan Air Force. The contract has a ceiling value of $328.5 million, with $157.3 million in foreign military sales funds obligated at the time of award, the Pentagon said in a statement. WHY IT’S IMPORTANT Washington has formal diplomatic ties with China, but maintains unofficial ties with Taiwan and is the island’s most important arms supplier. The U.S. is bound by law to provide Taiwan with the…