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Asian leaders to sign China-backed trade deal amid U.S. election uncertainty

Asian leaders to sign China-backed trade deal amid U.S. election uncertainty

13 Sept 14:24 Key points summarised by AI
  • Southeast Asian leaders, alongside China, Japan, South Korea, Australia, and New Zealand, are poised to sign the China-backed Regional Comprehensive Economic Partnership (RCEP) trade deal.
  • RCEP, involving 15 nations, will progressively lower tariffs, encompass nearly a third of the global population and 29% of world GDP, aiming to become the largest trade agreement.
  • The deal is set to cement China's economic influence and position as a key partner in Southeast Asia, Japan, and Korea, shaping future regional trade rules.
  • The signing occurs amidst U.S. election uncertainty, potentially enhancing China's opportunity to influence regional engagement narratives, following the U.S.'s recent 'America First' policies.
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