After Trump’s TPP pullout threat, China’s Xi defends free Asia-Pacific trade
Chinese President Xi Jinping vowed to “push to build an Asia-Pacific free-trade zone and an open world economy,” days after Trump vowed to withdraw the United States from the Trans-Pacific Partnership (TPP) trade pact on his first day in the White House.world Updated: Nov 24, 2016 01:29 IST
China’s President Xi Jinping vowed to strengthen world trade in the face of US President-elect Donald Trump’s threat to pull out of a key trans-Pacific accord.
Speaking on a visit to Chile on Tuesday, he vowed to “push to build an Asia-Pacific free-trade zone and an open world economy.”
Trump on Monday vowed to withdraw the United States from the Trans-Pacific Partnership (TPP) trade pact on his first day in the White House.
On the last stop of a tour to strengthen trade ties in Latin America, Xi said he and Chile’s President Michelle Bachelet agreed to join in a “full strategic relationship.”
They expanded their countries’ existing free trade agreement and signed 12 cooperation agreements.
“To drive the long-term development of bilateral ties, we have decided to enhance our bilateral relations to a strategic relationship and open a new page in ties between Chine and Chile,” Xi told a news conference.
Chile is the world’s biggest copper producer and the second-largest producer of salmon.
China is its biggest trade partner, receiving a quarter of all Chilean exports last year.
Xi also signed 18 new agreements with Peru on Monday.