Xi Jinping’s Message from South Korea: Safeguard Supply Chains

From Gyeongju, South Korea, Chinese President Xi Jinping delivered a clear message to APEC members: safeguard global supply chains. His speech on Friday came just one day after striking a major trade deal with the US.
“We must adhere to the principle of joining hands rather than letting go, and extending rather than breaking supply chains,” Xi stated. He called for “genuine multilateralism” among the gathered nations.
This address followed a successful meeting with President Donald Trump. The resulting one-year pact includes the US slashing some tariffs and export controls.
In exchange for the tariff cuts, China agreed to purchase US soybeans and, critically, to pause new curbs on rare earth exports. This move averted a threatened 100% US import tax on the vital materials.
The deal also provides a one-year reprieve for Chinese tech firms, as the US delayed a restrictive measure targeting companies with ties to sanctioned entities. Xi said the deal should bring “peace of mind” globally.