Trade ministers of Asia-Pacific Economic Cooperation (APEC) member countries met on South Korea’s Jeju Island in the shadow of the tariffs imposed by the US. The joint statement released after the talks expressed “concern” about the fundamental threats facing the global trading system.
“We are concerned about the fundamental challenges facing the global trading system,” the 21-member APEC group said in the statement. The ministers called for greater cooperation against economic challenges, emphasizing that APEC remains a platform to address challenges in the region together. South Korean Trade Minister Cheong In-Kyo said the adoption of the joint statement was not easy, noting that there were “significant differences of opinion” between the countries at the beginning of the talks. But in a last-minute compromise, APEC members emphasized the importance of global trade mechanisms such as the World Trade Organization (WTO) and sustainable supply chains. “APEC members have shown that they can act together in the current uncertain global trade environment,” Cheong said, adding that this message sent a positive signal to global markets.
https://japantoday.com/category/politics/apec-says-‘concerned’-over-challanges-to-global-trade
