APEC 2025: Leaders Commit to Joint Efforts Amid Global Trade Challenges
US-China Ties: Following a temporary agreement between US President Donald Trump and Chinese President Xi Jinping on a trade war, 21 Asia-Pacific countries concluded their annual summit. At the summit, held in Gyeongju, South Korea, the leaders issued a joint statement calling for reducing the impact of trade tensions on the global economy and enhancing regional economic cooperation.
Leaders of 21 Asia-Pacific countries concluded their annual economic summit on Saturday, a day after US President Donald Trump and Chinese President Xi Jinping agreed to a temporary truce in the trade war, with a statement that underscored regional economic cooperation. The leaders began their annual summit on Friday, discussing ways to enhance economic cooperation and address common challenges.
Two days after the Asia-Pacific Economic Cooperation (APEC) summit in the South Korean city of Gyeongju, APEC leaders promised more cooperation in a joint statement to tackle common problems weighing on the world economy, which has been dented by trade frictions between the world's top two economies - the US and China. A day earlier, the President and the Chinese President agreed to take steps to reduce escalating trade tensions.
In his meeting with Xi Jinping a day earlier, Trump talked about reducing tariffs on China, and Beijing agreed to allow the export of rare earth metals and purchase soybeans from the US. The agreement reached between Trump and Xi is a welcome relief for the global economy.
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Chinese President Xi Jinping announced on Saturday that China will host the APEC Economic Leaders' Meeting in November 2026. He said the 2026 summit, a meeting of leaders from 21 Asian and Pacific countries, will be held in Shenzhen. China has hosted the APEC summit twice before. Investing in China is investing in the future, Xi said.
