China's International Trade Representative and Vice Minister of Commerce Li Chenggang leaves the venue for APEC Trade Ministers' meeting in Seogwipo on Jeju island, South Korea, May 16, 2025. -- REUTERS/Kim Hong-Ji
SEOGWIPO, South Korea (Reuters): The Asia-Pacific Economic Cooperation group adopted a statement on Friday that cited "fundamental challenges" facing the global trading system, but stopped short of discussing a joint response to US tariffs looming large over its meeting.
The annual gathering is the first major multilateral trade gathering since U.S. President Donald Trump's announcement of sweeping tariffs that hit more than half of the 21 members of the bloc with U.S. import duties in excess of the 10% minimum.
