Three signs from APEC that the U.S. and China remain far apart on trade

Just over a week after the U.S. and Chinese presidents met in Beijing, the world’s two largest economies are sending different messages about their priorities for Asia.

First is tariffs. China’s economy relies significantly on exports — and the free-flow trade — as it accounts for about 28% of the goods made globally, according to CNBC calculations of World Bank data.  Beijing’s statements on Chinese President Xi Jinping and U.S. President Donald Trump’s summit last week have noted how duties will remain lower for longer, while the U.S. did not mention tariffs.

Then on Saturday, China’s Commerce Minister Wang Wentao told reporters that affirming the “vision” of a free trade agreement was a key outcome of the just-concluded Asia-Pacific Economic Cooperation trade ministers meeting.

Read more