Canada and Japan are preparing to meet China’s President Xi Jinping during the APEC gathering in Gyeongju, South Korea, where Xi has taken the main role after securing a temporary trade truce with U.S. President Donald Trump. The truce was reached just before Trump left South Korea after skipping the main two‑day summit, and it pauses new restrictions on China’s exports of rare earth minerals that had threatened to disrupt global supply chains. The talks in Gyeongju are centered on supply chain stability and lowering trade barriers, but the APEC structure is non‑binding, and reaching consensus across 21 economies has been difficult due to ongoing geopolitical tension. Xi spoke at the closed‑door opening session, telling leaders, “Changes unseen in a century are accelerating across the world.” He added, “The rougher the seas, the more we must pull together,” calling for support for multilateral trade and more economic cooperation. US Treasury Secretary Scott Bessent attended in Trump’s place, representing the United States at the table. With Trump absent, Xi has become the main diplomatic focus, with scheduled meetings involving Japan, Canada, and Thailand. Japan meets Xi amid military buildup tension Xi is expected to meet Japan’s newly elected Prime Minister Sanae Takaichi, her first direct talks with him since taking office. Reuters claimed that the meeting was being arranged for Friday. Before leaving Tokyo, Takaichi confirmed that contacts with Beijing were already underway. Relations between Japan and China have been more stable in recent years, but her sudden rise to power may introduce new strain. She has strong nationalistic positions and supports a more assertive security posture. One of her first policy actions after taking office was to accelerate Japan’s military build‑up to counter what Tokyo sees as territorial pressure from China in East Asia. Japan also hosts the largest concentration of U.S. military forces outside the United States. Several issues remain difficult between the two governments. Japanese nationals remain detained in China, and Beijing continues restrictions on Japanese beef, seafood, and agricultural products. These subjects are expected to be raised in the talks. Canada seeks to restart engagement after years of conflict Canadian Prime Minister Mark Carney will meet Xi at 4 p.m. (0700 GMT) with the intention of reopening diplomatic and trade channels after years of damaged relations. Canada is trying to reduce heavy dependence on the United States, its largest trading partner, while expanding into other markets. China remains Canada’s second‑largest trading partner. However, under former Prime Minister Justin Trudeau, relations deteriorated sharply. Canadians were detained and some executed in China, and Canadian security agencies determined that China interfered in at least two federal elections. Xi also publicly criticized Trudeau before, accusing him of leaking private discussions to the press. In August, China imposed preliminary anti‑dumping duties on Canadian canola. That followed Canada’s move to apply a 100% tariff on imports of Chinese electric vehicles the previous year. Senior officials from both countries met earlier this month to discuss the disputes but did not signal any progress. Thailand’s Prime Minister Anutin Charnvirakul is also scheduled to meet Xi. Bangkok’s government noted that this comes days after Thailand and Cambodia signed an enhanced ceasefire deal overseen by Trump. Trump has emphasized his role as a mediator in global conflicts. Xi told Trump on Thursday that China also supports dialogue and reconciliation efforts on key issues. South Korean President Lee Jae Myung, the summit host, said, “It is clear we cannot always be on the same side, but we must work together to achieve common prosperity.” South Korea’s Foreign Minister Cho Hyun said talks were ongoing regarding a joint statement, and he remained hopeful a declaration could be adopted by the summit’s close on Saturday. But diplomats from two APEC nations expressed doubt that any final document would be substantial. APEC did not produce joint statements in 2018 or 2019 during Trump’s first term. The APEC region stretches from Russia to Chile and accounts for roughly half of global trade and 61% of global GDP. The smartest crypto minds already read our newsletter. Want in? Join them.Canada and Japan are preparing to meet China’s President Xi Jinping during the APEC gathering in Gyeongju, South Korea, where Xi has taken the main role after securing a temporary trade truce with U.S. President Donald Trump. The truce was reached just before Trump left South Korea after skipping the main two‑day summit, and it pauses new restrictions on China’s exports of rare earth minerals that had threatened to disrupt global supply chains. The talks in Gyeongju are centered on supply chain stability and lowering trade barriers, but the APEC structure is non‑binding, and reaching consensus across 21 economies has been difficult due to ongoing geopolitical tension. Xi spoke at the closed‑door opening session, telling leaders, “Changes unseen in a century are accelerating across the world.” He added, “The rougher the seas, the more we must pull together,” calling for support for multilateral trade and more economic cooperation. US Treasury Secretary Scott Bessent attended in Trump’s place, representing the United States at the table. With Trump absent, Xi has become the main diplomatic focus, with scheduled meetings involving Japan, Canada, and Thailand. Japan meets Xi amid military buildup tension Xi is expected to meet Japan’s newly elected Prime Minister Sanae Takaichi, her first direct talks with him since taking office. Reuters claimed that the meeting was being arranged for Friday. Before leaving Tokyo, Takaichi confirmed that contacts with Beijing were already underway. Relations between Japan and China have been more stable in recent years, but her sudden rise to power may introduce new strain. She has strong nationalistic positions and supports a more assertive security posture. One of her first policy actions after taking office was to accelerate Japan’s military build‑up to counter what Tokyo sees as territorial pressure from China in East Asia. Japan also hosts the largest concentration of U.S. military forces outside the United States. Several issues remain difficult between the two governments. Japanese nationals remain detained in China, and Beijing continues restrictions on Japanese beef, seafood, and agricultural products. These subjects are expected to be raised in the talks. Canada seeks to restart engagement after years of conflict Canadian Prime Minister Mark Carney will meet Xi at 4 p.m. (0700 GMT) with the intention of reopening diplomatic and trade channels after years of damaged relations. Canada is trying to reduce heavy dependence on the United States, its largest trading partner, while expanding into other markets. China remains Canada’s second‑largest trading partner. However, under former Prime Minister Justin Trudeau, relations deteriorated sharply. Canadians were detained and some executed in China, and Canadian security agencies determined that China interfered in at least two federal elections. Xi also publicly criticized Trudeau before, accusing him of leaking private discussions to the press. In August, China imposed preliminary anti‑dumping duties on Canadian canola. That followed Canada’s move to apply a 100% tariff on imports of Chinese electric vehicles the previous year. Senior officials from both countries met earlier this month to discuss the disputes but did not signal any progress. Thailand’s Prime Minister Anutin Charnvirakul is also scheduled to meet Xi. Bangkok’s government noted that this comes days after Thailand and Cambodia signed an enhanced ceasefire deal overseen by Trump. Trump has emphasized his role as a mediator in global conflicts. Xi told Trump on Thursday that China also supports dialogue and reconciliation efforts on key issues. South Korean President Lee Jae Myung, the summit host, said, “It is clear we cannot always be on the same side, but we must work together to achieve common prosperity.” South Korea’s Foreign Minister Cho Hyun said talks were ongoing regarding a joint statement, and he remained hopeful a declaration could be adopted by the summit’s close on Saturday. But diplomats from two APEC nations expressed doubt that any final document would be substantial. APEC did not produce joint statements in 2018 or 2019 during Trump’s first term. The APEC region stretches from Russia to Chile and accounts for roughly half of global trade and 61% of global GDP. The smartest crypto minds already read our newsletter. Want in? Join them.