China’s Xi Pushes for Open Supply Chains in Post-Truce APEC Speech

Chinese President Xi Jinping pushed for open and developed supply chains in a speech at the APEC forum, warning nations against the impulse to “break” them. This address in South Korea was his first public statement after securing a one-year trade truce with the US.
“We must adhere to the principle of joining hands rather than letting go,” Xi told the assembled leaders. He called for “genuine multilateralism” and for nations to find “more points of convergence of interests.”
The truce he referred to is a new pact with President Donald Trump. It involves the US slashing some tariffs and export controls. In exchange, China will buy US soybeans and, significantly, will pause new curbs on rare earth minerals.
The deal also includes a one-year postponement of a controversial US tech measure. This rule, opposed by Beijing, would have blocked many Chinese firms from accessing US technology.
The positive spirit was mutual. Trump called his meeting with Xi “amazing,” and Xi reiterated that “dialogue is always better than confrontation.” The two leaders are now set to exchange state visits, starting with Trump’s trip to China in April.