Apec Concerned About Challenges To Global Trade

The Asia-Pacific Economic Cooperation (Apec) said on May 16 that it was concerned about the challenges to global trade, as ministers from the group's members met in South Korea under the shadow of growing woes from US tariffs.

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JEJU - The Asia-Pacific Economic Cooperation (Apec) said on May 16 that it was concerned about the challenges to global trade, as ministers from the group's members met in South Korea under the shadow of growing woes from US tariffs.

Trade ministers from the top economies that make up Apec are meeting on South Korea's Jeju Island amid concerns for the global trading system since US President Donald Trump unveiled bombshell levies on most partners.

The US is a key Apec member and was represented by Trade Representative Jamieson Greer, who held a series of bilateral meetings with nations eager to soften the blow of Washington's tariffs.

"We are concerned with the fundamental challenges faced by the global trading system," trade ministers from the 21-member group said in a joint statement.

They urged greater cooperation, saying they remain committed to Apec as a means of "bringing us together to address the economic challenges facing our region".

South Korea's Minister for Trade, Mr Cheong In-Kyo, said the joint statement was hard-won, with clear "significant differences" in positions early on in the talks.