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President Trump to address key Apec summit in Vietnam | President Trump to address key Apec summit in Vietnam |
(about 2 hours later) | |
US President Donald Trump and other world leaders are to address the annual Asia-Pacific Economic Co-operation (Apec) summit in Vietnam, with trade and growth high on the agenda. | US President Donald Trump and other world leaders are to address the annual Asia-Pacific Economic Co-operation (Apec) summit in Vietnam, with trade and growth high on the agenda. |
Mr Trump has vowed to correct a huge trade imbalance with China and Japan. | Mr Trump has vowed to correct a huge trade imbalance with China and Japan. |
China on Thursday said it would lower market entry barriers to some sectors, during Mr Trump's visit to Beijing. | China on Thursday said it would lower market entry barriers to some sectors, during Mr Trump's visit to Beijing. |
Talks between Mr Trump and Russian President Vladimir Putin are yet to be confirmed at the summit in Da Nang. | |
Apec brings together 21 economies - the equivalent of about 60% of the world's GDP. | Apec brings together 21 economies - the equivalent of about 60% of the world's GDP. |
Mr Trump is due make a speech at 06:30 GMT. He will be followed by Chinese President Xi Jinping. | Mr Trump is due make a speech at 06:30 GMT. He will be followed by Chinese President Xi Jinping. |
While discussing China's huge trade surplus on a state visit in Beijing, the US leader surprised many when he said he did "not blame China" for "taking advantage". | While discussing China's huge trade surplus on a state visit in Beijing, the US leader surprised many when he said he did "not blame China" for "taking advantage". |
Instead, Mr Trump said previous US administrations were responsible for what he called "a very unfair and one-sided" trade relationship with China. | Instead, Mr Trump said previous US administrations were responsible for what he called "a very unfair and one-sided" trade relationship with China. |
Meanwhile, the Chinese foreign ministry said that Beijing would further lower entry barriers in the banking, insurance, and finance sectors, and gradually reduce vehicle tariffs. | Meanwhile, the Chinese foreign ministry said that Beijing would further lower entry barriers in the banking, insurance, and finance sectors, and gradually reduce vehicle tariffs. |
Deals worth $250bn (£190bn) were also announced, although it was unclear how much of that figure included past agreements or potential future deals. | Deals worth $250bn (£190bn) were also announced, although it was unclear how much of that figure included past agreements or potential future deals. |
At the same time, US Secretary of State Rex Tillerson told journalists the deals were "pretty small" in terms of tackling the trade imbalance. | At the same time, US Secretary of State Rex Tillerson told journalists the deals were "pretty small" in terms of tackling the trade imbalance. |
Mr Trump has in the past accused China of stealing American jobs and threatened to label it a currency manipulator, though he has since rowed back on such rhetoric. | Mr Trump has in the past accused China of stealing American jobs and threatened to label it a currency manipulator, though he has since rowed back on such rhetoric. |
Mr Xi on Thursday promised "healthy" and "balanced" economic and trade relations. | Mr Xi on Thursday promised "healthy" and "balanced" economic and trade relations. |
The total trade relationship between the US and China was worth $648bn last year, but trade was heavily skewed in China's favour with the US amassing a nearly $310bn deficit. | The total trade relationship between the US and China was worth $648bn last year, but trade was heavily skewed in China's favour with the US amassing a nearly $310bn deficit. |
Before the Beijing talks, Mr Trump in Tokyo lashed out at Japan, saying it "has been winning" on trade in recent decades. | |
Japanese Prime Minister Shinzo Abe will also be making a speech at the Apec summit. | Japanese Prime Minister Shinzo Abe will also be making a speech at the Apec summit. |
Japan had a $69bn (£52.8bn) trade surplus with the US in 2016, according to the US Treasury department. | Japan had a $69bn (£52.8bn) trade surplus with the US in 2016, according to the US Treasury department. |
Earlier this week, Mr Trump also visited South Korea, and will end his 12-day Asian tour in the Philippines on 13 November. | Earlier this week, Mr Trump also visited South Korea, and will end his 12-day Asian tour in the Philippines on 13 November. |