Obama warns against rush to condemn Trump trade policies


All eyes were on China at this year's APEC summit in Lima, Peru just over a week after Trump's surprise victory in the United States dashed hopes of the largest-ever US -proposed trade deal, the Trans-Pacific Partnership (TPP), coming to fruition.

Leaders of both the countries should communicate frequently, according to the statement on Sunday.

"The leaders reviewed in detail the schedule of further summit contacts and discussed the topic of integration of the Eurasian Economic Union and the Silk Road projects", Peskov said.

"Syrian problems were also considered during the meeting", he added.

Chinese President Xi Jinping pushed Beijing's free trade plans Saturday at a summit of Asia-Pacific leaders, stepping up to fill the void left by USA president-elect Donald Trump's protectionism. "We're going to.make sure the fruits of development are shared".

President Barack Obama championed the TPP as a way to counter China's rise, but his administration has now stopped trying to win congressional approval for the deal that was signed by 12 economies in the Americas and Asia-Pacific, excluding China.

The threatened TPP trade pact could be rebadged as the "Trump Pacific Partnership" to satisfy the U.S. president-elect who has vowed to scrap it, New Zealand's prime minister has said.

"The Asia-Pacific is under similar pressure and is grappling with such challenges as the fragmentation of regional economic cooperation", Xi said.

"China will not shut its door to the outside world but open more", Xi said in a keynote address at APEC.

In a Pacific region hungry for trade, that has left even longtime USA allies looking to China to fill the void.

Many leaders seem to be hoping as much within Apec - a 21-member free trade club that accounts for almost 40 percent of the world's population and almost 60% of the global economy.

USA officials have urged the world to give Trump time to get his feet under the desk.

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Obama's message to young leaders at a town hall-style meeting in Lima was sanguine: "Don't assume the worst".

New Zealand's Prime Minister John Key spoke more bluntly, saying the "tremendous despair" triggered by Trump's trade views can't be allowed to slow down economic integration by the rest of the world.

"I think it will be important for everybody around the world to not make immediate judgments, but give this new president-elect a chance to put their team together, to examine the issues, to determine what their policies will be".

"In the face of Trump's positioning, we're now in a stage of favoring dialogue as a way to build a new agenda in our bilateral relationship", said Pena Nieto, whose country participates in NAFTA with the USA and Canada.

Several APEC members said it was too soon to write off support from Trump on TPP.

Trump insulted Mexican immigrants as criminals and rapists during the campaign, vowed to force Mexico to pay billions of dollars to build a wall along the border, and threatened to restrict remittances that immigrants in the United States send home.

Najib said Obama and other leaders believe that all legislation processes to ratify the TPP in every member country should proceed.

Some leaders said TPP could still be saved in some form, although other allies are turning their attention to China's rival plans.

Some leaders and experts said TPP could still be saved in some version.

Japanese leader Shinzo Abe, who took domestic political risks to back TPP, visited Trump in NY on Thursday to hear from the president-elect himself.

"The retreat on the part of America has created an opportunity for China.to expand its influence in Asia", he said in a note.