Xi Jinping Leads Asia-Pacific Trade Agenda at APEC Amid US Absence

At the Asia-Pacific Economic Cooperation (APEC) summit in South Korea, Chinese President Xi Jinping positioned China as a champion of free trade and multilateral cooperation amid shifting global economic dynamics. Xi emphasized stabilizing supply chains, advancing green and digital trade, and supporting the multilateral trading system while avoiding direct criticism of the United States or tariffs. A recent trade truce with U.S. President Donald Trump was marked by a one-year tariff rollback agreement, with the U.S. reducing tariffs on Chinese imports and China increasing exports of rare earth minerals. Despite President Trump's limited attendance and early departure from the summit, the U.S. was represented by Treasury Secretary Scott Bessent, who defended America’s trade policies as part of a strategic rebalance. The summit highlighted tensions between China's regional dominance and the U.S.'s shift toward bilateral deals and reshoring manufacturing, with some Asian nations expressing wariness of China's assertive economic posture. Overall, Xi's active diplomacy at APEC contrasts with Trump's absence, signifying a recalibration of influence in the Asia-Pacific economic arena.