The International Trade Council commends the continuous progress made by member countries of the Trans Pacific Partnership (TPP) at the Asia Pacific Economic Cooperation (APEC) summit in Vietnam, in spite of the absence of the United States following President Trump’s decision to withdraw.
During the APEC summit, President Trump reiterated his ‘America First’ stance, underlining his preference for bilateral deals in Asia that will not disadvantage the United States. He stated, “We can no longer tolerate these chronic trade abuses and we will not tolerate them.”
In stark contrast, China’s leader, who also attended the summit, emphasized the importance of multilateralism and the irreversible trend of globalization. President Xi Jinping encouraged delegates, stating, “We should continue to foster an open economy that benefits all. Openness brings progress while self-seclusion leaves one behind.”
Although differences of opinion were apparent, the spirit of cooperation prevailed at the summit, demonstrating a collective determination to tackle global trade challenges.
In a joint statement on Syria, Putin and Trump agreed to sustain joint efforts on combating ISIL until it is defeated, according to Saturday’s report by the Kremlin. They also expressed their commitment to Syria’s sovereignty, independence, and territorial integrity, inviting all parties to the Syrian conflict to actively participate in the Geneva political process.
The International Trade Council remains a staunch supporter of global trade partnerships that aim to create a conducive environment for economic growth and stability. As such, the TPP’s continued pursuit of fostering trans-Pacific trade relations is commendable.