APEC leaders call for commitment to cooperation, multilateral trade system

CHINA WELCOMES TRUMP’S ‘G-2’ REMARK

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Chinese President Xi Jinping (right), shakes hands with Malaysia PM Anwar Ibrahim at the Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting in Gyeongju on Friday

(AP/PTI)

Leaders of 21 Asian and Pacific Rim nations opened their annual summit Friday to discuss how to promote economic cooperation and tackle shared challenges, a day after President Donald ‘Trump and Chinese President Xi Jinping agreed to take steps to ease their escalating trade war.

‘This year’s two-day Asia-Pacific Economic Cooperation summit in the South Korean city of Gyeongju has been heavily overshadowed by Thursday's ‘Trump-Xi meeting.

‘Trump described the meeting as a roaring success, saying he would cut tariffs on China, while Beijing had agreed to allow the export of rare earth elements and start buying American soybeans.