APEC summit: Can Trump and Xi cool the US-China trade war?

DW (English)

As the Asia-Pacific Economic Cooperation (APEC) summit kicks off in South Korea, all eyes are on US President Trump and Chinese leader Xi. Can the world's most powerful politicians deescalate the US-China trade war, or will tariffs and tech tensions tip markets into turmoil?

Transcript

00:00The Asia-Pacific Economic Cooperation was founded in 1989.

00:05Today, it counts 21 member countries.

00:08The organization's purpose?

00:10To improve economic cooperation and foster free trade and cross-border investment.

00:15To date, APEC has delivered some 40 bi- and multilateral agreements.

00:19However, they are not legally binding.

00:23The group's heavyweights are the US, China, Russia, Canada and Australia.

00:27They represent approximately half of the world's population and 60% of global gross domestic product.

00:37At this year's summit, the worldwide US tariffs will be on the agenda,

00:41especially the trade spat between the US and China that recently escalated.

00:46US President Trump's latest threat is for 100% tariffs on all Chinese imports.

00:52China has retaliated by banning the exports of rare earth elements the US economy needs.

00:58China has a near monopoly on many resources and uses that position to put pressure on the United States.

01:05A meeting between Trump and China's Xi Jinping is planned for this weekend.

01:09However, due to the fluid situation, it's unclear whether or not it will happen.

01:14a competition, not only does it happen.

01:21The last minute history of the US is the US, China has a near monopoly on the US and many

01:26gel households, China has a lower monopoly on the crowd.

01:28But they don't understand the obvious spread of the US that they are buying.

01:30And the US will decide they were eight to move towards the UK.

01:33They want to move towards the US in Britain, his country's handbook.

01:36They want to make all the people that you've earned in Russia.

01:38So, they don't assume the US has a bad idea.

01:40In the US, in the US, in Belgium, they want to make all the US.

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