Ministers from 21 Pacific Rim economies agreed in principle on the importance of free trade and multilateral frameworks but struggled to produce a statement at the end of extended two-day talks on Thursday, Japan's trade minister said.
In a rare development, the ministers of the Asia-Pacific Economic Cooperation forum decided the previous day to extend discussions after failing to reach a consensus on a joint statement. Concerns are mounting over the new trade policy pursued by U.S. President Donald Trump that pushes for bilateral trade deals over multilateral trade frameworks.
The first APEC meeting since Trump took office, which was held in the central Vietnamese city of Danang, focused on how to advance regional trade with the United States, the world's largest economy.