APEC Summit To Wrap Up As Trump And Xi Reach Temporary Trade Truce, Offering Brief Relief To Global Markets: Report

Leaders of 21 Asia-Pacific nations are set to conclude the annual APEC summit in Gyeongju, South Korea, following a temporary trade truce between US President Donald Trump and Chinese President Xi Jinping that brought relief to global markets, The Hindu reported.

The summit was largely overshadowed by Thursday’s (30 October) high-stakes Trump–Xi meeting, where both leaders agreed to scale back earlier trade restrictions and ease tensions.

The meeting, held on the sidelines of APEC, saw Mr. Trump depart South Korea soon after the deal, leaving Xi to dominate the proceedings.

During APEC’s opening session on Friday (31 October), Xi pledged China’s commitment to global free trade and supply chain stability, presenting Beijing as a defender of openness amid US protectionism.

In remarks to the APEC CEO summit, he stated that “Investing in China is investing in the future.”

Xi also held separate talks with the leaders of Japan, Canada, and Thailand, and is scheduled to meet South Korean President Lee Jae Myung on Saturday (1 November) to discuss denuclearisation and peace on the Korean Peninsula.

That agenda drew criticism from Pyongyang, with North Korean Vice Foreign Minister Pak Myong Ho denouncing Seoul’s pursuit of “its daydream” of denuclearisation and warning that the North would show how such efforts are “a pipedream.”

Trump had earlier expressed his willingness to meet North Korean leader Kim Jong Un during his visit, but Pyongyang has not responded.

Their previous nuclear negotiations, which began in 2018, collapsed after 2019, and North Korea has since rejected talks without major sanctions relief.

As host, South Korea is pushing for a joint declaration reaffirming free trade and cooperation on AI, demographics, and new growth strategies, though officials admit consensus may be difficult amid continuing US–China divisions.

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