President Biden is in Latin America for a farewell tour to attend the Asia-Pacific Economic Cooperation (APEC) 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. Because of the change of power, the G-20 will be “less politically relevant,” limiting Biden’s ability to make any commitments.
The president’s first stop is in Lima, Peru, where he will meet world leaders at the APEC summit, placing a heavy focus on the Indo-Pacific region. Biden’s next stop on Sunday will be in Brazil’s capital, Rio de Janeiro, where he will meet with Brazilian President Luiz Inácio Lula da Silva on the margins of the G-20 summit.
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President Biden, right, meets with President-elect Trump in the Oval Office of the White House in Washington, D.C., on Wednesday. (AP Photo/Evan Vucci)
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 has become South America’s top trading partner, and trade between China and Latin America grew significantly between 2000 and 2020, increasing from $12 billion to $315 billion. Two-way trade is expected to double by 2035, reaching more than $700 billion, according to figures from the World Economic Forum.
President Biden waves as he walks with Chinese President Xi Jinping at Filoli estate on the sidelines of the Asia-Pacific Economic Cooperation summit in Woodside, California, on Nov. 15, 2023. (Reuters/Kevin Lamarque/File Photo)
Biden’s visits to APEC and the G-20, which will likely be his last appearances on the international stage in his 50-year political career, come in the shadow of former President Trump’s election victory and his return to the White House. The summits will focus on trade, security and global alliances, but there are unlikely to be any deliverables at the conclusion of each.
“Biden is playing a weak hand that just got weaker,” Mark Montgomery, retired Rear Admiral and Senior Fellow at Foundation for Defense of Democracies, told Fox News Digital.
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“Biden has to contend with both Trump’s victory but also with Chinese President Xi’s ascendency in Latin America, especially given China’s predominant role as an economic partner of choice,” Montgomery added.
As Trump prepares for his second term, some leaders will have to contend with a more aggressive U.S. posture, including in the economic realm and international trade.
“China and the EU should expect higher U.S. tariffs in 2025,” Derek Scissors, senior fellow at the American Enterprise Institute, told Fox News Digital. He also said the tariffs could provide leverage for Trump in his second term.
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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. Trump promised to raise tariffs up to 60% on Chinese imports while running for president, although it’s unclear if he would actually go that high.
Leaders from the U.S., China, Brazil and elsewhere in Asia and the Americas are gathering at the Asia-Pacific Economic Cooperation summit in Lima, Peru. (Manuel Orbegozo/Bloomberg via Getty Images)
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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.