Chinese President Xi Jinping made a forceful plea for global cooperation at the APEC forum in Gyeongju, South Korea, urging member nations to “join hands rather than letting go.” His speech, which warned against “breaking supply chains,” came immediately after a successful meeting with US President Donald Trump.
Xi called for “genuine multilateralism” and encouraged countries to “actively seek more points of convergence of interests.” He stressed the importance of supporting the “opening up and development of supply chains” for the health of the global economy.
The backdrop for this speech was a new one-year trade deal with the US. The agreement includes the US slashing some tariffs and export controls. In return, China will buy US soybeans and, significantly, pause new curbs on rare earth minerals.
The deal also saw the US postpone for one year a restrictive tech measure that had been a major source of friction. Both leaders expressed relief and optimism; Trump called the meeting “amazing,” while Xi highlighted that dialogue is preferable to confrontation.
To further solidify the truce, reciprocal visits are planned. Trump will visit China in April, and Xi is expected to visit the US, possibly in Florida or Washington, D.C., sometime after that.