Friday, November 18, 2016

Peruvian President Sees U.S. Election Results As Threat to Global Economy
November 18 at 4:55 PM

The U.S. presidential election is a sign of growing hostility to free trade that threatens the global economy, the president of Peru warned Friday as he opened an Asian-Pacific summit hosted by his nation.

President Pedro Pablo Kuczynski told delegates gathering in Lima for the Asia Pacific Economic Cooperation Forum that global trade has already stopped growing in the last two years and would get much worse if nations close off their economies.

“It is fundamental that world trade grow again and that protectionism be defeated,” Kuczynski said.

The Peruvian president cited the recent U.S. election, though he did not specifically mention President-elect Donald Trump, who pledged to overhaul the country’s trade policy and tear up trade agreements such as the North American Free Trade Agreement and the proposed Trans-Pacific Partnership.

Kuczynski also cited the vote in June by Britain to leave the European Union as evidence that “protectionist tendencies are taking over” in the world.

APEC has brought more than 1,000 delegates from 21 countries to Lima for a forum aimed at easing global commerce. President Obama was expected to arrive late Friday.

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