World News

Trump at Apec summit: US will no longer tolerate trade abuses

Written by Maritime First
  • As European Union moves to ban arms sales to Venezuela

President Donald Trump has said the US will no longer tolerate “chronic trade abuses”, in a defiant address at the Asia-Pacific Economic Co-operation (Apec) summit in Vietnam.

He said he would always put US interests first and Apec nations should “abide by fair reciprocal trade”.

In stark contrast, China’s Xi Jinping said globalisation was irreversible and voiced support for multilateralism.

Mr Trump is currently on a five-nation Asia tour, with China one of his stops.

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

Since taking office, President Trump has pursued his “America First” agenda and pulled the US out of the regional Trans-Pacific Partnership – a major trade deal with 12 Apec nations – arguing it would hurt US economic interests.

In the meantime, European Union diplomats say the EU is set to ban arms sales to Venezuela and could impose asset freezes and travel restrictions on some Venezuelan officials to ramp up pressure on President Nicolas Maduro.

Two diplomats confirmed that EU foreign ministers will announce the measures at talks in Brussels on Monday. One said the actions are meant “to encourage a return to dialogue as soon as possible.”

The diplomats asked to have their names withheld because the measures haven’t been officially announced.

The weapons ban would stop sales of military equipment that could be used for repression or surveillance of Venezuelans.

The United States on Thursday put financial sanctions on another 10 current and former Venezuelan officials over corruption and abuse of power allegations related to Maduro’s crackdown on opposition.

BBC with additional report from Fox

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