Trump faces setback in South American trade as China gains ground in Peru

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Trump faces setback in South American trade as China gains ground in Peru - Business Standard

Quick Summary:

Peru, the world's no.2 copper exporter, is set to host Asia-Pacific Economic Cooperation leaders this week, with China's President Xi Jinping expected to attend and inaugurate a major new Chinese-built port in the country.

Peru reflects a wider challenge for the White House around South America, where China's presence has grown rapidly given its huge appetite for the region's main exports: corn, copper, soy, beef and battery-metal lithium.

He added that Peru hoped to sign an agreement during APEC with China to upgrade their 2009 free trade agreement, mainly related to intellectual property, electronic commerce and customs procedures.