The Asia Pacific Economic Cooperation forecasts growth to drop to 2.6% in 2025, from 3.6% in the prior year. Carlos Kuriyama, director of the APEC Policy Support Unit, said "we are witnessing an environment that is not conducive to trade,

The agreement between China and the U.S. to cut tariffs and moderate their trade war is a welcome development, as it suggests the worst outcome facing the U.S. economy — a devastating recession — may be averted.

U.S. Treasury Secretary Scott Bessent stated that the outcome of trade negotiations with China led to the creation of a mechanism to prevent escalation in bilateral relations. Over the weekend, U.S. and Chinese delegations agreed that starting Wednesday,