Chinese President Xi Jinping positioned himself as the guardian of global free trade during the opening session of the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju, South Korea, on Friday, October 31, 2025—just one day after a pivotal bilateral meeting with U.S. President Donald Trump. Xi's address to leaders from 21 Pacific Rim economies emphasized multilateral cooperation amid "turbulent times," directly countering U.S. protectionist policies that have rattled international markets.

The summit, hosted under the theme “Building a Sustainable Tomorrow: Connect, Innovate, Prosper,” arrived at a critical juncture. Trump, fresh from a 100-minute sit-down with Xi in nearby Busan on Thursday, departed South Korea without attending the main leaders' forum—a move consistent with his skepticism toward large multilateral gatherings. The Trump-Xi encounter, their first in over six years, yielded tentative breakthroughs: Trump announced a reduction of U.S. tariffs on Chinese goods from 60% to 47%, while Beijing committed to easing export controls on rare earth minerals and ramping up purchases of American soybeans. Trump hailed the talks as a "roaring success," averting the most severe escalations in their ongoing trade war.

Xi, making his first visit to South Korea in 11 years, used the platform to advocate for supply chain resilience and reject decoupling efforts—widely seen as a veiled critique of U.S. strategies to reshore manufacturing. "The more turbulent the times, the more we must work together," Xi declared, underscoring the need to stabilize global commerce in an era of volatility. He also pitched expanded collaboration on green technologies, including solar panels and electric vehicles, despite criticisms that China's dominance in these sectors floods markets and undermines competitors' industries.

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South Korean President Lee Jae-myung, opening the two-day event as chair, echoed calls for solidarity. "We can't always align perfectly due to national interests, but we can unite for shared prosperity," Lee stated, urging candid discussions on AI's job impacts, aging populations, and low birth rates—priorities for the host nation grappling with its own demographic crisis. South Korean officials highlighted plans to share best practices and forge new growth strategies, with bilateral meetings on the horizon: Xi is set to confer with Japan's new Prime Minister Sanae Takaichi on Friday and Lee on Saturday, focusing partly on curbing North Korea's nuclear ambitions.

Representing the U.S., Treasury Secretary Scott Bessent defended Trump's absence and agenda, framing tariff adjustments as steps toward "fair and reciprocal" trade. "We're investing in resilient networks to reduce vulnerabilities," Bessent said, signaling a pivot from broad globalization to targeted economic competition with China, particularly in AI, semiconductors, and critical minerals.

Founded in 1989 to champion open markets, APEC accounts for over half of global trade and nearly 40% of the world's population. Yet, this year's gathering is shadowed by U.S.-China frictions, echoing the 2018 Papua New Guinea impasse where discord prevented a joint communique. South Korean diplomats are pushing for consensus, though Foreign Minister Cho Taeyul tempered expectations, predicting a general declaration on regional peace over a firm free-trade endorsement.

Experts view the Trump-Xi thaw as a pragmatic pause rather than resolution. Leif-Eric Easley, a professor at Ewha Womans University in Seoul, noted: "It averts worst-case trade disruptions, but APEC must go further—harmonizing regulations, combating protectionism, and setting digital standards." As tensions simmer over manufacturing supremacy and tech dominance, the summit underscores a fractured global order, where Xi's multilateral overtures contrast sharply with Trump's unilateral flair.

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