US-China trade talks back in focus at APEC meeting
Trade talks between the United States and China are again at the centre of attention at the APEC summit. China's Commerce Minister Li Chenggang skipped the opening session citing 'urgent official business'. The gathering marks the first formal diplomatic contact between the two sides since the Trump-Xi summit.
On the opening day of the APEC ministerial meeting in Gyeongju, South Korea, the Chinese delegation was led by mid-tier officials. Li Chenggang was reportedly reviewing in Beijing the new US technology export restriction list released the previous day. US Trade Representative Jamieson Greer said China had 'delayed implementation of market access commitments'.
On the sidelines of the meeting, officials said technical discussions are continuing on Beijing's pledge at the Trump-Xi summit to buy 200 Boeing aircraft. The US side emphasised it would be ready to sign in September a package of mutual tariff reductions worth $30 billion, conditional on Chinese acceptance.
Japan, South Korea, Australia and Indonesia called on APEC to 'reaffirm its commitment to an open trading order'. The final communiqué is expected on Sunday and will reportedly contain two new paragraphs on Indo-Pacific supply chains and digital trade rules.
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