- Title: APEC leaders pose for family photo
- Date: 20th November 2016
- Summary: LIMA, PERU (NOVEMBER 20, 2016) (REUTERS) FLAGS OUTSIDE SUMMIT VARIOUS OF SECURITY GUARD GENERAL VIEW OF APEC SUMMIT SITE MORE OF SECURITY SECURITY SIGN VARIOUS MORE OF SECURITY
- Embargoed: 5th December 2016 19:13
- Keywords: APEC summit Barack Obama Donald Trump free trade
- Location: LIMA, PERU
- Reuters ID: LVA0015990H8N
- Aspect Ratio: 16:9
- Story Text: The heads of state of the Asia Pacific Economic Cooperation (APEC) summit posed together Sunday (November 20) for a photograph while wearing traditional Peruvian garb to mark the 2016 summit. They all draped artisanal scarves over their shoulders during their photo.
All eyes were on China at this year's APEC summit in Lima, Peru just over a week after Trump's surprise victory in the United States dashed hopes of the largest-ever U.S.-proposed trade deal, the Trans-Pacific Partnership (TPP), coming to fruition.
U.S. President Barack Obama has championed the TPP as a way to counter China's rise, but he has now stopped trying to win congressional approval for the deal signed by 12 economies in the Americas and Asia-Pacific, excluding China. Without U.S. approval the current agreement cannot be implemented.
Trump campaigned against the TPP and the North American Free Trade Agreement (NAFTA) as bad for U.S. jobs. He said he would scrap the TPP and threatened to impose tariffs on imports from China and Mexico.
Following a meeting with Obama, Chinese President Xi Jinping said Beijing's relationship with Washington was at a "hinge moment" and called for a smooth transition.
Xi has been selling an alternate vision for regional trade by promoting the Beijing-backed Regional Comprehensive Economic Partnership (RCEP), which as it stands excludes the Americas.
Chinese attendance at the APEC meeting was its largest ever and regional delegates said China would take the lead on trade if the U.S. turned toward protectionism.
The Obama administration has warned that the RCEP would not include strong protections for workers, the environment or intellectual property. - Copyright Holder: REUTERS
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