Chinese President Xi Jinping used his platform at the APEC forum in South Korea to issue a stark warning: do not “break supply chains.” His speech on Friday followed a successful meeting with President Trump that yielded a new trade deal.
Xi called on member nations to “adhere to the principle of joining hands rather than letting go.” He advocated for “genuine multilateralism” and the “opening up and development of supply chains.”
The one-year deal struck with the US provides a backdrop for this call to cooperation. The US agreed to slash some tariffs and export controls, a major concession.
In return, China committed to buying US soybeans and pausing new curbs on its rare earth exports. This commitment was critical, as Trump had threatened a 100% import tax on the materials.
The pact also includes a one-year delay on a restrictive US tech measure. Xi said the deal should bring “peace of mind” and that “dialogue is always better than confrontation.”