Chinese President Xi Jinping pitched a message of global trade stability at the APEC forum in South Korea, urging nations to “join hands rather than letting go.” His speech, which cautioned against “breaking supply chains,” came just after he finalized a new trade deal with the US.
The one-year deal, struck with President Donald Trump, involves the US slashing some tariffs and export controls. In exchange, China agreed to buy US soybeans and, critically, to pause any new restrictions on rare earth minerals.
The agreement also includes a one-year postponement of a new US technology measure that China had strongly opposed. The positive tone was reflected in the leaders’ remarks, with Trump calling their meeting “amazing” and Xi stating that “dialogue is always better than confrontation.”
Xi’s APEC address built on this momentum, calling for “genuine multilateralism” and for nations to “actively seek more points of convergence of interests.” He stressed the need to “support the opening up and development of supply chains.”
To further the dialogue, state visits have been scheduled. President Trump announced he would visit China in April, with President Xi planning a reciprocal trip to the US later in the year.
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