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APEC Leaders Pledge To Fight Against Protectionism

APEC leaders pose for a group photo.

After a two-day summit in Peru, the leaders of the Asia-Pacific Economic Cooperation (APEC) forum reaffirmed their commitment to keep markets open and to "fight against all forms of protectionism."

"The benefits of trade and open markets need to be communicated to the wider public more effectively, emphasizing how trade promotes innovation, employment, and higher living standards," the leaders also said in a November 20 communique.

Meanwhile, Chinese officials said more countries were looking to join a 21-nation trade deal it backs, after Donald Trump's election victory raised concerns the United States would scrap free-trade deals.

During the election campaign, Trump called for greater protection for U.S. jobs, threatened to impose steep tariffs against China and Mexico, and said he would tear up the 12-country Trans-Pacific Partnership trade agreement.

The deal must be ratified in the U.S. Congress, which is controlled by Trump's Republican Party.

Based on reporting by Reuters and the BBC