APEC Trade Meeting Ends Without Consensus Amid U.S. Tariff Tensions

The Asia-Pacific Economic Cooperation (APEC) trade meeting wrapped up Friday on South Korea’s Jeju Island, with key members divided over U.S. tariffs and reforms to the World Trade Organization (WTO), casting doubt over a joint statement.

This year’s gathering was the first major multilateral trade meeting since U.S. President Donald Trump’s sweeping tariff announcement, which impacted more than half of APEC’s 21 members. APEC warned that the region—responsible for nearly half of global trade—could see a sharp export slowdown due to these U.S. import duties, which exceed the 10% minimum in many cases.

The U.S. push to reform the WTO, which it sees as favoring China’s trade advantage, also added to tensions. The Trump administration has paused funding to the WTO, intensifying friction with other members.

Diplomats expressed skepticism about reaching consensus, though South Korea’s Trade Minister Cheong In-kyo, the meeting chair, pushed for unity. Working-level talks continued late into Thursday night in hopes of agreement.

The attendance of U.S. Trade Representative Jamieson Greer elevated the meeting’s significance. Several member economies upgraded their delegations after Greer confirmed his participation. He held talks with Chinese Vice Commerce Minister Li Chenggang, following earlier discussions in Geneva, where both sides agreed to a temporary 90-day tariff reduction.

Greer also met with Cheong and Malaysia’s Trade Minister Tengku Zafrul Aziz, who expressed optimism about ongoing dialogue. Additionally, Greer discussed bilateral cooperation in shipbuilding with HD Hyundai’s Executive Vice Chairman Chung Kisun, highlighting Seoul’s proposal to include the sector in a trade deal with Washington.

As no joint statement was adopted, Cheong is expected to issue a chair’s summary, reaffirming opposition to protectionism—language previously opposed by the U.S.