China hosts APEC trade ministers in Suzhou, calling for regional cooperation to counter rising protectionism. The meeting occurs amid tensions over China's nearly $1.2 trillion trade surplus, which G7 nations call unsustainable. The agenda includes supply chain resilience and digital trade, while a high-level visit from Japan's trade minister signals potential diplomatic engagement despite a recent rift.
APEC trade ministers Suzhou meeting
- ▪Trade ministers from the Asia-Pacific Economic Cooperation (APEC) are holding a two-day meeting in Suzhou, China, starting May 22, 2026
- ▪The Suzhou meeting is one of several held in preparation for the annual APEC leaders' summit, scheduled to take place in Shenzhen later in 2026
- ▪China's Commerce Minister Wang Wentao missed the opening session of the APEC meeting, citing "urgent official business."
- ▪The 21 members of APEC collectively account for nearly half of all global trade
G7 trade imbalance concerns
- ▪Days before the APEC meeting, Group of Seven (G7) finance ministers agreed on the need to take action to address global trade imbalances, which they called unsustainable
- ▪U.S. Treasury Secretary Scott Bessent has argued for increased protections against a large volume of low-cost Chinese imports
- ▪In the year prior to the meeting, China recorded a trade surplus of nearly $1.2 trillion
Japan-China diplomatic engagement
- ▪Japanese trade minister Ryosei Akazawa is attending the meeting, marking the highest-level visit by a Japanese official to China since a diplomatic dispute in November
- ▪The recent Japan-China diplomatic dispute was triggered by comments from Japanese Prime Minister Sanae Takaichi regarding a potential Chinese attack on Taiwan
APEC regional cooperation priorities
- ▪The APEC meeting agenda includes advancing a regional free-trade area, boosting digital trade, and improving artificial intelligence readiness
- ▪At the meeting's opening, Chinese representative Li Chenggang called for APEC to oppose rising unilateralism and protectionism
- ▪The APEC Business Advisory Council, represented by chair Li Fanrong, urged a pause on new trade restrictions to avoid further economic uncertainty
- ▪APEC ministers are expected to discuss supply chain resilience amid global shocks, including the U.S.-Israeli war on Iran
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