Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Trump to represent U.S. at this week's virtual APEC summit, official says

Published 11/18/2020, 10:09 AM
Updated 11/18/2020, 11:05 AM
© Reuters. U.S. President Trump delivers update on so-called Operation Warp Speed coronavirus treatment program in televised address from the Rose Garden at the White House in Washington

By David Brunnstrom

WASHINGTON (Reuters) - President Donald Trump plans to represent the United States at a virtual Asia-Pacific summit this week in which his Chinese counterpart President Xi Jinping also plans to participate, a U.S. official told Reuters.

Trump's participation in the Asia-Pacific Economic Cooperation (APEC) forum hosted virtually by Malaysia on Friday will be his first in the event since 2017, the only time he has participated.

The news comes after Trump's outgoing administration faced criticism for lower-level participation at last weekend's virtual East Asia Summit, on the sidelines of which 15 countries signed a major China-backed regional trade deal.

"POTUS is doing APEC," said a U.S. official, who did not want to be identified, using the acronym for the President of the United States.

The White House declined to comment and while the current plan is for Trump to take part in APEC, the Republican president is preoccupied with an uphill battle to contest his defeat in the Nov. 3 presidential election. In the past, he has changed his mind about taking part in such meetings.

China's Xi is scheduled to be among the participants in Friday's APEC leaders' meeting and will also address a chief executives' conference starting on Thursday.

Last year's APEC summit, which Trump had been due to attend, did not take place because Chile backed out of hosting it amid violent street protests.

Vice President Mike Pence represented the United States at APEC in 2018 amid heightened U.S.-China tensions, which have deteriorated since to their worst level in decades.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Trump failed in his re-election bid after a campaign that highlighted rivalry with China, although he has refused to concede defeat. Democratic rival Joe Biden is due to take over on Jan. 20.

APEC is being held virtually this year due to the COVID-19 pandemic, which has hit the United States hardest and which Trump has blamed on China.

The U.S. official in charge of APEC said last week the United States had yet to decide who would attend the leaders' meeting, suggesting Xi would take the spotlight at a time of steadily increasing Chinese influence across Asia.

A joint APEC ministerial statement on Monday outlined the need for free, fair and non-discriminatory trade practices to drive economic recovery from the pandemic and structural reforms to promote sustainable and inclusive growth.

Trump's East Asia Summit no-show was viewed by many analysts as a snub even though even his administration had declared the Asia-Pacific and competition with China a foreign policy priority.

The U.S. Chamber of Commerce said on Monday it was concerned the United States was being left behind after the 15-nation Regional Comprehensive Partnership Agreement (RCEP) formed the world's largest free-trade bloc, cementing China's dominant role in regional trade.

The United States is absent from both RCEP and the successor to the Trans-Pacific Partnership (TPP) trade agreement, which Trump withdrew from after taking office in 2017.

Latest comments

So the current president will take part in a meeting. got it.
Man had plan for America needdd 2nd term to completebut loosing made him angry man
he had a plan?  is that like his top secret plan to defeat ISIS back in2016?
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.