November 14, 2024

Biden, Xi to meet, Albanese touches down amid fears of Trump trade war

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Prime Minister Anthony Albanese declared his support for free and fair trade on his arrival in Peru for an economic summit overshadowed by fears of a trade war if incoming United States president Donald Trump launches a wave of tariffs.

Albanese said he would use his talks at the Asia Pacific Economic Cooperation summit to make the case for trade, as he prepares for the two-day summit in Lima and possible one-on-one talks with other regional leaders.

With economists predicting a blow to global growth if Trump acts on his vow to impose 60 per cent tariffs on products from China, the annual APEC gathering is expected to negotiate a joint statement on open trade.

Chinese President Xi Jinping will meet his US counterpart Joe Biden in Peru on Saturday, on the sidelines of the APEC gathering, for their last formal bilateral meeting before Trump takes office on January 20.

Albanese will meet Indonesian President Prabowo Subianto on Thursday morning, local time, and aims to talk to Xi at the summit, one year after the prime minister visited Beijing for a formal state visit.

Prime Minister Anthony Albanese arrives in Lima, Peru, for the APEC summit.Credit: Alex Ellinghausen

Albanese arrived with his partner, Jodie Haydon, after leaving Sydney on Wednesday morning.

“This is about lifting Australia’s living standards by ensuring that we can continue to export to our region and the world,” he said of the summit.

Asked if he wanted APEC leaders to issue a unified statement in response to the prospect of higher tariffs under a Trump administration, the prime minister said he would make the case for open trade.

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