ED Trade specter over APEC
After seemingly avoiding direct clashes in their four rounds of trade talks this year, China and the United States have upped the ante with expanded export controls and retaliatory tariffs two weeks ahead of the Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting in Gyeongju, North Gyeongsang Province, later this month. Naturally, the markets were rattled, and the Korean won hit a new low Monday, prompting a verbal intervention from the Korean government. The U.S. and China then began to dial down the tension a bit, with U.S. President Donald Trump posting on social media Sunday (local time) that Chinese President Xi Jinping "doesn't want Depression for his country, and neither do I." He also added that the U.S. doesn't intend to hurt China and wants to help. China, for its part, said it is ready to talk but also to fight. With tensions calmed for the time being, the planned summit between Trump and Xi is expected to go ahead, according to U.S. Treasury Secretary Scott Bessent. Bessent also added that “The 100 percent tariff does not have to happen,” referring to Tru
Oct 14, 2025