APEC Divided: Trade Tensions Threaten Joint Statement

The Asia-Pacific Economic Cooperation (APEC) trade meeting is wrapped up on Friday but not without notable disagreements over U.S. tariffs and WTO reforms. These differences are causing uncertainty about adopting a joint statement, according to diplomatic sources. This annual gathering is significant as it marks the first major multilateral trade meeting since President Donald Trump's sweeping tariffs affected more than half of APEC's 21 member economies.

During the session, APEC cautioned that exports from the region could see a significant slowdown due to U.S. tariffs. The focus of the meeting was multilateral economic and trade cooperation, with pressing reforms to the WTO being a focal point.

U.S. Trade Representative Jamieson Greer's attendance on South Korea's Jeju Island heightened the event's stakes. Greer engaged in discussions with China's Vice Commerce Minister and met with several member economy officials to tackle ongoing trade disputes. As countries maneuver sensitive diplomatic negotiations, observers watch closely to see if a consensus can be reached by the meeting's conclusion.

(With inputs from agencies.)