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APEC trade ministers agree to joint statement despite conflicts over US tariffs

( May 16, 2025, 07:00 GMT | Official Statement) -- MLex Summary: Trade ministers from the US, China, and 19 other member economies of the Asia-Pacific Economic Cooperation forum unanimously adopted a joint statement today at their meeting in South Korea. There had been some doubts about whether they would agree to a joint statement because it marked the first such gathering since US President Donald Trump announced sweeping tariff increases on most countries. Without referring to US tariff policies, the statement noted member economies "are concerned with the fundamental challenges faced by the global trading system" and "recognize that the WTO faces challenges and requires meaningful, necessary, and comprehensive reform to improve all its functions." The ministers also recognized “AI's potential to fundamentally reshape the landscape of international trade" and acknowledged “the importance of adopting AI-enabled procedures that contribute to trade facilitation, particularly by enhancing customs procedures." The statement is attached....

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