Asia leaders defend trade deals despite Trump stance

    Asia leaders defend trade deals despite Trump stance

    Nov.21, NY: Asia-Pacific leaders have said they will pursue free trade deals despite Donald Trump's US election victory.

    During the campaign, Mr Trump called for greater protection for US jobs and said he would tear up the Trans-Pacific Partnership - the biggest multinational trade deal in years.

    But after a two-day summit in Peru, leaders defended the benefits of open markets.

    China also claimed growing support for a wider 21-nation trade deal it backs.

    In a communiqué at the end of the summit the Apec leaders said: "We reaffirm our commitment to keep our markets open and to fight against all forms of protectionism."

    It also referred to the "rising scepticism over trade", after the uneven recovery since the financial crisis had caused more people to question whether globalisation worked for enough people.

    But the leaders said that the "the benefits of trade and open markets need to be communicated to the wider public more effectively, emphasising how trade promotes innovation, employment and higher living standards".

    The Oslo Times International News Network


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