Trump, Xi Join Asia Pacific Forum "APEC" 

Heads of state of 21 countries from the Asia-Pacific Economic Cooperation (APEC), including U.S. President Donald Trump and Chinese President Xi Jinping said they will not embrace protectionism, promoting international trade.

This came during a virtual summit hosted by Malaysia, against the backdrop of ongoing trade war between the U.S. and China, the two largest global economies.

“APEC pledged to refrain from resorting to protectionist measures to keep markets and borders open,” said Malaysian Prime Minister Muhyiddin Yassin, adding that the impact of the trade war has been overshadowed by the COVID-19 pandemic.

[caption id="attachment_175254" align="aligncenter" width="925"] World leader during the virtual APEC summit[/caption]

In the statement, leaders asserted the importance of a free, fair,  and transparent trade to drive growth during the corona crisis.

Trump, who has not yet admitted defeat in the US election, focused mainly on domestic issues and his successes in office, reaffirming the US's commitment to promote peace, prosperity and growth in the Indo-Pacific region, and endorsing the Putrajaya Vision 2040, which will boost free and fair trade.

On his part, Xi called for free trade and support for multilateralism, saying China is actively studying the signing of the Comprehensive and Advanced Agreement for the Trans-Pacific Partnership (CPTPP), which Trump withdrew from when he first took office.

[caption id="attachment_175261" align="aligncenter" width="925"] Malaysian Prime Minister, APEC Chairman Muhyiddin Yassin during the summit[/caption]

Prior to the summit, APEC leaders warned of protectionism and expressed hope that Biden would be more cooperative and supportive of multilateral trade.

Finally, APEC’s Leaders pledged to combat and mitigate the impacts of COVID-19, improve the narrative of trade and investment, boost digital economy and technology, drive innovative and inclusive sustainability.