APEC Trade Talks: Struggling for Consensus Amid U.S. Tariff Tensions

News Snapshot:

The Asia-Pacific Economic Cooperation (APEC) trade meeting wrapped up with no joint statement, reflecting disputes over U.S. tariffs and contentious World Trade Organization reforms. Diplomatic sources suggest disagreements might prevent consensus among members. This annual meeting was the first major trade gathering post-U.S. President Trump's tariffs announcement. Over ten APEC members face new U.S. import duties exceeding 10%, sparking concerns of a slowdown in exports from the region, which contributes to half of global trade according to trade experts. The WTO reforms, focusing on multilateral cooperation, are particularly divisive, with the Trump administration viewing the WTO as detrimental due to...