• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'

2

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year

3

Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 

1

Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'

2

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year

3

Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 

APEC Leaders May Be Looking to China After Donald Trump’s Win

By
Reuters
Reuters
Down Arrow Button Icon
By
Reuters
Reuters
Down Arrow Button Icon
November 21, 2016, 3:30 AM ET
PERU-APEC-SUMMIT
China's President Xi Jinping prepares to speak during a session of the APEC CEO Summit, part of the broader Asia-Pacific Economic Cooperation (APEC) Summit in Lima on November 19, 2016. Peru's President Pedro Pablo Kuczynski opened the summit of Asia-Pacific leaders on November 18 urging them to robustly defend free trade against protectionist trends in the United States and Europe. / AFP / Rodrigo BUENDIA (Photo credit should read RODRIGO BUENDIA/AFP/Getty Images)RODRIGO BUENDIA/AFP/Getty Images

Pacific Rim leaders vowed on Sunday to fight protectionism and Chinese officials said more countries are looking to join a China-led trading bloc after Donald Trump’s election victory raised fears the United States would scrap free trade deals.

Trump campaigned for U.S. president on a promise to pull out of the 12-nation Trans-Pacific Partnership (TPP) trade deal, and also threatened to impose steep tariffs against China and Mexico.

Regional leaders responded on Sunday, saying they would push ahead with the TPP.

“We reaffirm our commitment to keep our markets open and to fight against all forms of protectionism,” they said at a summit meeting of the 21-country Asia-Pacific Economic Cooperation (APEC) group in Peru.

On his last foreign trip before he leaves the White House in January, President Barack Obama said abandoning TPP would be a mistake for the United States.

“I think not moving forward would undermine our position across the region and our ability to shape the rules of global trade in a way that reflects our values and our interests,” Obama told a news conference at the end of the summit.

Obama negotiated the TPP but has stopped seeking its congressional approval and says its ratification is now up to the incoming Trump administration.

China is not part of the TPP and has been pushing an alternative vision of free trade in Asia under the so-called Regional Comprehensive Economic Partnership (RCEP), which does not currently include countries in the Americas.

Tan Jian, a senior member of China’s delegation at the summit, said more countries are now seeking to join its 16-member bloc, including Peru and Chile, and that current members want to reach a deal as soon as possible to counter rising protectionism.

In a final declaration, APEC leaders said the TPP and RCEP were both valid paths to a broader Free Trade Area of the Asia-Pacific, which has long been a goal of the APEC bloc that accounts for 57% of the world economy.

“We encourage that all regional undertakings, including TPP and RCEP, remain open, transparent and inclusive and draw on each other,” they said.

Some APEC leaders in Lima have suggested the TPP could continue without the United States, but others said that would require a complete renegotiation.

Another way forward might be to make some cosmetic changes that would allow Trump to change his mind on the TPP without losing face, New Zealand Prime Minister John Key suggested.

Obama said he was already hearing calls for a “less ambitious” free trade agreement with fewer protections for workers and environmental standards, a likely reference to the China-led RCEP.

“That kind of agreement would obviously exclude U.S. workers and businesses and access to those markets,” he said.

China’s delegation warned against the “politicization” of trade agreements and said they should not just be for rich economies.

“If you have such high standards, then developing economies will have difficulty with trade,” Jian told Reuters. A “low threshold for developing economies … that is also important.”

For more on the Trans-Pacific Partnership, watch Fortune’s video:

Peruvian President Pedro Pablo Kuczynski, who hosted the summit, said it was too early to write off the TPP and that Trump’s support was due more to “difficult economic conditions” than to fierce protectionist sentiment.

Canada, a member of TPP but not RCEP, is keeping its options open on future trade deals, Prime Minister Justin Trudeau said.

Australia, similarly, said it was pursuing various opportunities, including RCEP.

“Well as I’ve indicated previously, Australia doesn’t have all its eggs in one basket,” Trade Minister Steven Ciobo told reporters. “It’s not a case of the TPP is all that there is for Australia.”

About the Author
By Reuters
See full bioRight Arrow Button Icon

Latest in International

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Most Popular

Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'
Success
Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'
By Preston ForeMay 20, 2026
2 days ago
Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year
Success
Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year
By Preston ForeMay 21, 2026
19 hours ago
Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
Workplace Culture
Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
By Preston ForeMay 19, 2026
3 days ago
Pay transparency is exposing a bigger problem: Most companies can't explain why they pay what they pay
Workplace Culture
Pay transparency is exposing a bigger problem: Most companies can't explain why they pay what they pay
By Sydney LakeMay 20, 2026
2 days ago
A 'proudly autistic' workplace expert says putting neurodivergent employees in a typical office is like dropping a polar bear in Austin, Texas
Conferences
A 'proudly autistic' workplace expert says putting neurodivergent employees in a typical office is like dropping a polar bear in Austin, Texas
By Tristan BoveMay 20, 2026
2 days ago
Meet a 21-year-old community college student who's going to China as the first American woman welder in the trades Olympics
Future of Work
Meet a 21-year-old community college student who's going to China as the first American woman welder in the trades Olympics
By Mike Householder and The Associated PressMay 17, 2026
5 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.