APEC leaders unite to call for ‘predictable’ trade ahead of Trump presidency, as Gaza split continues
Asia-Pacific leaders have united to call for “free and predictable trade” as Donald Trump’s tariff shake-up looms, but were unable to reach consensus on Ukraine and Gaza for the second year in a row.
At the end of the two-day Asia-Pacific Economic Cooperation (APEC) summit in Lima, the 21 Asia-Pacific economic leaders stood united for the family photo, decked out in vicuña scarves. But for the second year in a row could not agree on whether the two conflicts should be discussed at the economic and trade forum.
Anthony Albanese and other like-minded leaders argued the conflicts “could be treated” at the forum because they were having tangible economic impacts, but others argued APEC was not the right forum to discuss geopolitical issues.
The forums chair, Peruvian president Dina Boluarte, urged all economies to recommit to an effort of cooperation.
“Recalling APEC ́s foundational principles, the Chair urged economies to uplift their commitment to the strengthening of APEC as an effective cooperation platform, based on consensus as its most important tool,” she said in a statement.
The conflicts are also expected to be discussed at the G20, which begins in Brazil on Monday.
Camera IconAnthony Albanese posing with Peruvian President Dina Boluarte Credit: APEC Peru
Meanwhile, APEC leaders stood united on free trade, reaffirming their support for the “rules-based multilateral trading system”, and called for “predictability” as uncertainty surrounds the global economic status quo given the incoming second Trump administration.
While they used the same terminology in the 2023 statement, the messaging is poignant this year given Mr Trump has vowed to impose tariffs of up to 20 per cent on foreign imports and slug Chinese goods with up to 60 per cent.
Such an aggressive agenda would likely trigger a US-China trade war.
“We acknowledge the importance of, and will continue to work to deliver a free, open, fair, non-discriminatory, transparent, inclusive and predictable trade and investment environment,” the joint statement said.
“We reaffirm our support for the rules-based multilateral trading system, with the WTO at its core, and remain committed to working toward necessary WTO reform, in order to improve all of its functions.”
Mr Albanese said his task at APEC had been to “ensure that Australian jobs are protected” and “promote free and fair trade” – a message he would continue at G20.
The joint APEC statement came ahead of Chinese President Xi Jinping meeting with outgoing US president Joe Biden on Saturday afternoon (local time).
Mr Albanese is hoping to meet with Mr Xi on the G20 sidelines.
If the meeting eventuates, it will come after China nominated Mr Albanese as a role model for other US allies as they prepare to balance relations with Beijing and the second Trump Administration.
Beijing, through the China Daily, said Mr Albanese had showed “strategic autonomy” amid “unprecedented geopolitical complexity and uncertainty” following Mr Trump’s election.
Mr Albanese on Friday (local time) said he didn’t “subscribe to China Daily”.
“What I’ve done with China is work in the way that we said we would before the election. We said we would cooperate where we can and we would disagree where we must and we would engage in our national interests. I’d done that without compromising any of Australia’s national interests,” Mr Albanese said.
“We have not changed our position on any of the key differences that we have. We’ve said both privately and publicly the same things.”
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