Three signs from APEC that the U.S., China remain far apart on trade
Chinese Minister of Commerce Wang Wentao holds a press conference at the end of the APEC trade ministers meeting in Suzhou, China, on May 23, 2026.
CNBC | Evelyn Cheng
SUZHOU, China — Just a week after the presidents of the United States and China met in Beijing, the world’s two largest economies are sending different messages about their priorities for Asia.
The first is tariffs.
China’s economy relies heavily on exports and free trade, as it accounts for about 28% of goods produced globally, according to CNBC’s calculations. World Bank data.
Beijing’s statements regarding last week’s summit between Chinese President Xi Jinping and US President Donald Trump showed the following: Tasks will remain lower longer, USA I didn’t mention tariffs..
Later on Saturday, Chinese Commerce Minister Wang Wentao told reporters that the approval of the free trade agreement “vision” was an important outcome of the just-concluded Asia-Pacific Economic Cooperation trade ministers’ meeting.
“In the context of increasingly uncertain and destabilizing factors in global and regional economic development, members have directed their attention to FTAAP (Asia Pacific Free Trade Area) with a commitment to continue advancing economic integration through the FTAAP agenda,” Wang said in Chinese, according to the official English translation.
But a day earlier, when CNBC asked a member of the US delegation about FTAAP and free trade, the answer focused on balanced trade, which is part of the Trump administration’s rationale for tariffs.
“FTAAP is actually more of an agenda than a destination of sorts,” said Casey K. Mace, U.S. Senior Official at the APEC Forum. He noted that the United States is “active” in elements of FTAAP such as competitiveness, labor standards and trade facilitation.
China is the host of this year’s APEC meetings, which will culminate in a high-level meeting in Shenzhen in November. Trump and Xi are expected to meet at this event.
‘Constructive strategic stability’
The second is what will happen next to the US and China.
Beyond China’s purchase of 200 Boeing planes and $17 billion in annual U.S. agricultural products through 2028, there are few details yet on how the two sides will proceed with implementing “constructive strategic stabilization.”
A Chinese statement released early Saturday said Wang met in Suzhou on Thursday. Rick SwitzerlandDeputy US Trade Representative and US delegation head for the APEC trade ministers meeting.
The statement said that both sides hope to reach an agreement as soon as possible on the details of the economic consequences of the Trump-Xi meeting. This is an indication that differences still persist.
The U.S. embassy in Beijing and the U.S. State Department did not immediately respond to a request for comment.
artificial intelligence race
Third, the US-China technology race is expanding into Asia.
Wang said the APEC trade ministers meeting reached a “new consensus” on digital trade cooperation.
When asked to elaborate, Lin Feng, director-general of the international trade and economic relations department of China’s Ministry of Commerce, stated plans to make it easier for e-commerce companies to do business in the region and “commitment to strengthening artificial intelligence-related commercial exchanges.”
Lin noted efforts to “narrow the digital divide” but did not specifically mention Chinese AI companies.
While the U.S. restricts Chinese companies’ ability to access advanced semiconductors to train AI models, Chinese businesses tend to roll out AI models that are cheap, if not free, to use and have capabilities that are increasingly narrowing the gap with their U.S. rivals.
On the US side, Mace emphasized plans to “continue to position US technology companies, digital companies, as leaders in the region.”
Mace said US technology companies will hold workshops on a specific date. APEC “digital week” in Chengdu in July. Although China is the host of the event, “this is an opportunity to engage with all 21 countries.” [APEC] economies,” he added.
USA is one of them 12 founding members of APECIt was launched in Australia in 1989 as an informal forum for discussions on free trade and economic cooperation. The multilateral trade organization currently has 21 members, including mainland China, Hong Kong and “Chinese Taipei”, which joined the forum in 1991.
Wang did not comment on “urgent official business” that prevented him from presiding over Friday’s opening session.
