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APEC Closes With Gyeongju Declaration Backing Open Trade as Xi Steps to Forefront

The joint declaration signals a regional pivot toward cooperation following a U.SChina trade truce.

Overview

  • The 21 APEC economies adopted the Gyeongju Declaration reaffirming open trade and investment and restating support for the Putrajaya 2040 vision.
  • Leaders released statements urging coordinated responses to AI-driven disruption and cooperation on aging populations and low birth rates, with the agenda also highlighting cultural industries through an address by BTS leader RM.
  • A TrumpXi bilateral days earlier produced a temporary de-escalation of their trade dispute, and Trump departed before the summit, leaving Treasury Secretary Scott Bessent to represent the United States.
  • Xi Jinping cast China as a defender of free trade and supply-chain stability and held talks with counterparts including Japan and Canada, which agreed to deepen ties and address trade frictions.
  • Seoul said Xi would meet President Lee Jae-myung to discuss denuclearization of North Korea, a proposal North Korea publicly rejected as unrealistic.