Xi Jinping Pledges to Defend Free Trade at APEC Summit Following Trump Meeting

Xi hopes to work with other nations to expand cooperation in green industries, clean energy. (File)

Chinese President Xi Jinping pledged to defend global free trade while addressing Asia-Pacific leaders on Friday at the annual APEC forum in Gyeongju, South Korea, an event notably absent of US President Donald Trump.

Xi assumed a prominent role at the Asia-Pacific Economic Cooperation summit that commenced Friday, following Trump's early departure after their bilateral meeting where they reached agreements aimed at easing trade tensions.

The two-day APEC gathering has been largely overshadowed by the significant Trump-Xi talks that occurred on its margins.

Trump characterized his Thursday meeting with Xi as highly successful, announcing plans to reduce tariffs on Chinese goods while China agreed to permit rare earth element exports and resume American soybean purchases. These arrangements provided welcome relief to a global economy destabilized by trade frictions between the world's two largest economic powers.

Trump's absence from APEC aligns with his known reluctance to participate in multilateral forums traditionally used to address global challenges. However, his dismissal of the event risks damaging America's standing at a forum representing nearly 40% of the world's population and more than half of global trade volume.

"The more turbulent the times, the more we must work together," Xi stated during the opening session. "The world is undergoing a period of rapid change, with the international situation becoming increasingly complex and volatile."

Xi emphasized the importance of maintaining supply chain stability, countering American efforts to separate its supply networks from China.

The Chinese leader also expressed his desire to collaborate with other nations on expanding green industry cooperation and clean energy development. China's exports of solar technology, electric vehicles, and other green products have faced criticism for creating market oversupply and undermining domestic industries in importing countries.

This marks Xi's first visit to South Korea in 11 years. His schedule includes meetings with new Japanese Prime Minister Sanae Takaichi on Friday and South Korean President Lee Jae Myung on Saturday, with the latter expected to focus on North Korea's nuclear program.

Treasury Secretary Scott Bessent, representing Trump at the summit, stated that American efforts to rebalance trade relationships would ensure that "each country operates on fair and reciprocal terms." He added that the US is "investing with its trading partners to build resilient production networks that reduce dependence on vulnerable sectors."

Established in 1989 during a period of increasing globalization, APEC promotes free and open trade to accelerate regional economic integration. Today, the APEC region confronts challenges including US-China strategic competition, supply chain vulnerabilities, aging populations, and AI's impact on employment. US strategy has shifted toward economic competition with China rather than cooperation, with Trump's tariff increases and "America First" policies disrupting markets and threatening decades of globalization progress.

Representatives from 21 Asia-Pacific economies are attending the APEC meeting to discuss economic cooperation and shared challenges. Opening the summit as chair, South Korean President Lee called for enhanced cooperation to overcome new obstacles.

"It's obvious that we can't always stand on the same side, as our national interests are at stake. But we can join together for the ultimate goal of shared prosperity," Lee remarked. "I hope we will have candid and constructive discussions on how we can achieve APEC's vision in the face of the new challenge of a rapidly changing international economic environment."

Despite Trump's optimism following his 100-minute meeting with Xi, potential for significant tensions remains as both nations seek dominance in manufacturing and emerging technologies like artificial intelligence.

"It is certainly a contribution to bring the leaders of the two largest economies together for a meeting where they agreed to withdraw their most extreme tariff and export control threats. As a result, worst-case outcomes for global trade were averted," said Leif-Eric Easley, professor of international studies at Ewha Womans University in Seoul.

"However, APEC is meant to be more than a venue for a trade war truce," Easley continued. "Greater multilateral efforts are needed to address the region's most pressing economic challenges, including resisting costly and destabilizing protectionism, harmonizing regulations for sustainable trade, and coordinating standards for digital innovation."

South Korean officials have been communicating with participating nations to encourage all 21 members to adopt a joint statement at the summit's conclusion, seeking to avoid a repeat of the 2018 Papua New Guinea meeting where US-China trade disagreements prevented consensus.

South Korean Foreign Minister Cho Hyun acknowledged last week that issuing a joint statement strongly endorsing free trade would be challenging due to divergent positions among APEC members. Instead, he anticipated a broader declaration emphasizing regional peace and prosperity.

As the host nation, South Korea is focusing discussions on AI cooperation and demographic challenges such as aging populations and declining birth rates, under the theme "Building a Sustainable Tomorrow: Connect, Innovate, Prosper." South Korean officials indicate that APEC members will exchange best practices for addressing AI and demographic issues, explore common approaches, and develop new growth strategies during the summit.