APEC 2025: Leaders Commit to Joint Efforts Amid Global Trade Challenges

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.