President Biden is in Latin America for the APEC and G-20 summits, in what is likely his last trip as president. The back-to-back summits come as an impending second Trump presidency is near, which may rattle some world leaders.
President Biden is in Latin America for a farewell tour to attend the Asia-Pacific Economic Cooperation summit in Peru and the G-20 summit in Brazil. The Biden administration can do little about the future agenda of these institutions, Ariel González Levaggi, Senior Associate at the Center for Strategic and International Studies, told Fox News Digital. Levaggi said much of what Biden will highlight at these summits will not be on the table for the incoming Trump administration.
Biden is also expected to meet with Chinese President Xi Jinping at the APEC summit on Saturday as China has expanded its economic footprint in Latin America, particularly in APEC host Peru. Xi watched along with Peruvian President Dina Boluarte for a ceremonial ribbon-cutting for the opening of the new Peruvian megaport of Chancay, a project financed by China to the tune of over $1 billion. The megaport’s symbolism highlights China's growing investment and influence in Latin America.
China and other members of the G-20 will likely brace for a reboot of Trump’s 'America First' policy, placing a heavy emphasis on higher tariffs. Trump famously launched a trade war with China in his first term in 2018, raising tariffs up to 25% on steel, aluminum and other Chinese-made products. China responded with reciprocal tariffs against the U.S.
Traditional U.S. allies might not be exempt, either, from a second Trump administration tariff policy, where some nations could see up to a 20% increase in tariffs.
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