“AMERICA FIRST”
The summit will also be attended by Japan, South Korea, Canada, Australia and Indonesia, among others.
President Vladimir Putin of APEC member Russia will not attend.
Trump’s “America First” agenda is characterized by protectionist stances on global commerce, fossil fuel extraction and foreign conflicts.
It threatens alliances Biden had built on issues ranging from the wars in Ukraine and the Middle East to climate change and trade.
The Republican president-elect has threatened tariffs of up to 60 per cent on imports of Chinese goods to even out what he says is an imbalance in bilateral trade.
China is grappling with a prolonged housing crisis and sluggish consumption that can only be made worse by a new trade war with Washington.
But economists say punitive levies will also harm the American economy and affect trade with its neighbors and with Europe.
Source: CNA
