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President Trump to address key Apec summit in Vietnam

US President Donald Trump. Photo: 9 November 2017Image copyright AFP/Getty Images
Image caption Donald Trump has vowed to correct huge trade imbalances with Apec members China and Japan

US President Donald Trump and other world leaders are to address the annual Asia-Pacific Economic Co-operation (Apec) summit in Vietnam, with trade and growth high on the agenda.

Mr Trump has vowed to correct a huge trade imbalance with China and Japan.

China on Thursday said it would lower market entry barriers to some sectors, during Mr Trump’s visit to Beijing.

Talks between Mr Trump and Russian President Vladimir Putin are yet to be confirmed at the summit in Da Nang.

Apec brings together 21 economies – the equivalent of about 60% of the world’s GDP.

Mr Trump is due make a speech at 06:30 GMT. He will be followed by Chinese President Xi Jinping.

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Media captionTrump spoke about North Korea and US-China trade

While discussing China’s huge trade surplus on a state visit in Beijing, the US leader surprised many when he said he did “not blame China” for “taking advantage”.

Instead, Mr Trump said previous US administrations were responsible for what he called “a very unfair and one-sided” trade relationship with China.

Meanwhile, the Chinese foreign ministry said that Beijing would further lower entry barriers in the banking, insurance, and finance sectors, and gradually reduce vehicle tariffs.

Deals worth $250bn (£190bn) were also announced, although it was unclear how much of that figure included past agreements or potential future deals.

At the same time, US Secretary of State Rex Tillerson told journalists the deals were “pretty small” in terms of tackling the trade imbalance.

Mr Trump has in the past accused China of stealing American jobs and threatened to label it a currency manipulator, though he has since rowed back on such rhetoric.

Mr Xi on Thursday promised “healthy” and “balanced” economic and trade relations.

The total trade relationship between the US and China was worth $648bn last year, but trade was heavily skewed in China’s favour with the US amassing a nearly $310bn deficit.

Before the Beijing talks, Mr Trump in Tokyo lashed out at Japan, saying it “has been winning” on trade in recent decades.

Japanese Prime Minister Shinzo Abe will also be making a speech at the Apec summit.

Japan had a $69bn (£52.8bn) trade surplus with the US in 2016, according to the US Treasury department.

Earlier this week, Mr Trump also visited South Korea, and will end his 12-day Asian tour in the Philippines on 13 November.

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