GYEONGJU, South Korea: Chinese leader Xi Jinping told Asia-Pacific leaders on Saturday that his country would help to defend global free trade as US President Donald Trump snubbed an annual economic regional forum.
Xi took center stage at the Asia-Pacific Economic Cooperation summit that began the previous day in the South Korean city of Gyeongju, as Trump left the country just hours before the summit opened, after reaching deals with Xi meant to ease their escalating trade war.
This year’s two-day APEC summit has been heavily overshadowed by the Trump-Xi meeting that was arranged on the sidelines.
Trump described his Thursday meeting with Xi as a roaring success, saying he would cut tariffs on China, while Beijing had agreed to allow the export of rare earth elements and start buying American soybeans. Their deals were a relief to a world economy rattled by trade tensions between the world’s two largest economies.
Trump’s decision to skip APEC fits with his well-known disdain for big, multi-nation forums that have been traditionally used to address huge global problems, but his blunt dismissal of APEC risks worsening America’s reputation at a forum that represents nearly 40 percent of the world’s population and more than half of global goods trade.
