{"id":76407,"date":"2016-11-21T03:19:11","date_gmt":"2016-11-21T01:19:11","guid":{"rendered":"http:\/\/www.arabtelegraph.com\/?p=76407"},"modified":"2016-11-21T03:19:11","modified_gmt":"2016-11-21T01:19:11","slug":"apec-leaders-commit-to-fighting-all-forms-of-protectionism","status":"publish","type":"post","link":"https:\/\/www.arabtelegraph.com\/?p=76407","title":{"rendered":"APEC leaders commit to fighting &#8216;all forms&#8217; of protectionism"},"content":{"rendered":"<p dir=\"ltr\"><strong>Pacific rim leaders said on Sunday that they were committed to fighting &#8220;all forms of protectionism,&#8221; and encouraged signatories of the TPP trade pact to continue supporting it despite fears it may not have a future in its current form.<\/strong><\/p>\n<p dir=\"ltr\">&#8220;We reaffirm our commitment to keep our markets open and to fight against all forms of protectionism,&#8221; the leaders of the 21-country Asia-Pacific Economic Cooperation (APEC) group said in a closing statement after meeting in Peru.<\/p>\n<p dir=\"ltr\">APEC talks in Lima have been dominated by doubts over the future of free trade and in particular the Trans-Pacific Partnership (TPP) trade pact following the election of Donald Trump as U.S. president.<\/p>\n<div class=\"teads-inread\" dir=\"ltr\">Trump strongly criticized the TPP &#8211; which as it stands includes the United States but not China &#8211; during an election campaign notable for his strong criticism of U.S. free trade deals.<\/div>\n<p dir=\"ltr\">U.S. President Barack Obama, speaking at a news conference, said he was already hearing calls for a less ambitious trade agreement that would exclude U.S. workers and businesses.<\/p>\n<p dir=\"ltr\">Not moving forward with TPP would undermine the U.S. position across the Asia-Pacific region, Obama said at the end of the last stop of his final scheduled trip abroad as president.<\/p>\n<p dir=\"ltr\">Some leaders have suggested that the 12-nation TPP free trade pact could continue without the United States, while others have said that would be impossible without a complete renegotiation.<\/p>\n<p dir=\"ltr\">Another way forward might be a cosmetic change that would allow Trump to support the accord without losing political face, New Zealand Prime Minister John Key suggested in a round table on Saturday.<\/p>\n<p dir=\"ltr\">In parallel, China has been selling an alternate vision for regional trade by promoting the Regional Comprehensive Economic Partnership (RCEP), which does not include the Americas.<\/p>\n<p dir=\"ltr\">Peru&#8217;s President Pedro Pablo Kuczynski, host of the APEC summit, said it was too early to write off the sweeping TPP deal following Trump&#8217;s surprise win.<\/p>\n<p dir=\"ltr\">Kuczynski said that economic hardship had fueled support for Trump in the United States and the Brexit victory in the United Kingdom. &#8220;More than protectionism, it&#8217;s a reflection of difficult economic conditions,&#8221; Kuczynski said.<\/p>\n<p dir=\"ltr\">The final declaration by the APEC leaders said: &#8220;We encourage that all regional undertakings, including TPP and RCEP, remain open, transparent and inclusive and draw on each other.&#8221;<\/p>\n<p dir=\"ltr\">Both deals could be potential pathways to a wider regional trade agreement, known as the FTAAP or Free Trade Area of the Asia Pacific, it said.<\/p>\n<p dir=\"ltr\">The final declaration acknowledged that economic growth had become uneven in recent years and inequality had risen, factors seen as key in a shift to isolationism in Western economies.<\/p>\n<p dir=\"ltr\">&#8220;While the complex global economic environment will continue framing our work, it also represents an opportunity to reiterate our commitment to build a dynamic, harmonious and open economy in the Asia-Pacific region,&#8221; it said<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pacific rim leaders said on Sunday that they were committed to fighting &#8220;all forms of protectionism,&#8221; and encouraged signatories of the TPP trade pact to continue supporting it despite fears it may not have a future in its current form. &#8220;We reaffirm our commitment to keep our markets open and to fight against all forms &hellip;<\/p>\n","protected":false},"author":3,"featured_media":76419,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[36],"tags":[],"class_list":["post-76407","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-te-public"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>APEC leaders commit to fighting &#039;all forms&#039; of protectionism - Arab Telegraph<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.arabtelegraph.com\/?p=76407\" \/>\n<meta property=\"og:locale\" content=\"ar_AR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"APEC leaders commit to fighting &#039;all forms&#039; 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