00:00APEC represents a $1.5 trillion market for the United States.
00:04We exported over a trillion dollars in goods to APEC economies last year alone
00:08and nearly half a trillion in services.
00:11It's an enormous market. A lot of the economies are growing.
00:15The digital opportunities in the digital and AI space are enormous for the United States.
00:21So we need to stay at the forefront of the conversation and of the agenda
00:27to make sure that the Regency's, the United States is not just the leader,
00:32but the solutions they need to power their economic growth.
00:36What's the opportunity that is really there at hand between the U.S. and China
00:40when you have China hosting APEC, you have the U.S. hosting G20,
00:43you have another summit coming up on September 24th,
00:46you have the APEC Leaders Summit perhaps in November.
00:50A lot of pressure to get some significant deliverables on resetting this relationship
00:55on a more stable footing.
00:57Do you think the U.S. already has sort of extended that fragile truce?
01:04I think last week's meeting and outcomes were very positive,
01:09and we are excited to build off of those outcomes and to build off of that momentum
01:15going into APEC and G20.
01:18Of course, President Xi has agreed to visit the United States in September,
01:22another opportunity to continue to work on issues both in the bilateral relationship,
01:28but for us to continue to promote American business solutions and business exports to China
01:35and the broader region.
01:37What do you say when inevitably your trading partners in the Asia-Pacific do come to you and say,
01:42we are having trouble with, you know, oil price shock and inflation, supply chain disruptions,
01:51no doubt, obviously exacerbated by the issues in the Middle East.
01:56I mean, this is not going to necessarily go away overnight.
02:00So what is your response to them?
02:02Well, and they look to other countries like China as on their own bilateral relations.
02:07Yeah.
02:08Well, first of all, another big outcome from last week was the fact that President Xi and
02:12President Trump agreed that Iran shouldn't have a nuclear weapon, that the Strait of Hormuz
02:16should be reopened, and that Iran shouldn't toll traffic through the Strait of Hormuz.
02:21All of those are critically important to restoring the energy supply chain fluidity that this region needs.
02:29But energy security has long been a topic of conversation at APEC.
02:34It's certainly promoting energy security, promoting American energy exports is a priority for the administration.
02:40It's been a priority for us at APEC last year.
02:43Now it is again this year.
02:44What's critically important for this region is to continue to look to diversify their energy supplies so that they're more
02:53resilient.
02:54And America has a lot of great energy exports to offer.
03:01And so that's sort of dried up.
03:03I mean, the United States is the largest LNG exporter.
03:06But again, China's looking at alternatives.
03:09Obviously, you know about the power of Siberia, too, with Russia.
03:12That's being continually discussed.
03:14And I think the LNG imports from America pretty much dwindled after the tariff barrage, if you will.
03:21Are you hopeful, though?
03:22Do you think LNG exports to China can resume?
03:25Well, to China, but also to the broader region.
03:28Our partners in the region are making more and more commitments to buy American LNG, to buy more American crude
03:36oil,
03:36because they see us as a reliable and affordable supplier of energy exports, the energy that this region demands.
03:42We are just enjoying it worth saying that.
03:43We are just spending two hours.
03:43In that statement, everybody because we also play a breath.
03:43list this June.
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