Trade ministers from 21 Asia-Pacific Economic Cooperation (APEC) member economies met in Suzhou, China, on May 22, 2026, for a two-day session focused on trade challenges and cooperation [1].
China’s Vice Commerce Minister Li Chenggang delivered the opening remarks, standing in for Commerce Minister Wang Wentao, who was occupied with urgent official business [2, 1]. Li highlighted rising trade barriers, saying, "Unilateralism and protectionism are on the rise. It becomes ever more necessary for us to seek common ground, respect differences and overcome our difficulties together" [2]. He emphasized the need to "send a strong message to the world" by bolstering regional cooperation [1].
The ministers reaffirmed commitment to strengthen digital trade frameworks, improve supply chain connectivity, and reduce obstacles to cross-border commerce across the Asia-Pacific region [1]. Hong Kong’s commerce secretary Algernon Yau defended the World Trade Organization-centered multilateral trading system and warned against tariffs on electronic transmissions, reinforcing calls for open digital trade [1].
China’s trade ties with the United States showed steadiness following a tariff war, boosted in part by President Donald Trump’s recent Beijing visit that eased tensions [2]. China remains in talks with the US to extend a trade ceasefire reached in October 2025. Officials aim to cut tariffs on at least US$30 billion worth of goods from both countries, signaling efforts to improve trade flows [2].
Despite global challenges, including the ongoing Iran conflict, China’s exports rose 15% year on year in the first four months of 2026, underscoring resilience amid uncertain conditions [2].
Some European Union officials are considering new actions addressing China’s large trade surplus and its economic impact, though details remain tentative [2].
The APEC meeting in Suzhou concluded with members seeking greater cooperation to counter rising unilateralism and protectionism. China’s dialogue with the US on tariff reductions is ongoing and expected to continue in the coming months [2].
