Chinese President Xi Jinping met with U.S. President Donald Trump ahead of the APEC Economic Leaders’ Meeting. Xi called for Asia-Pacific countries to support free trade and maintain supply chain stability, following a deal to reduce U.S. tariffs by 10% and allow exports of rare earths.

Xi emphasized the need for cooperation at the APEC summit, offering suggestions to safeguard the multilateral trading system and promote green and digital trade. Chinese companies have doubled down on production, accounting for 27% of global manufacturing output, while Trump seeks to bring factories back to the U.S.

Since the first trade tensions with the U.S., China’s largest trading partner has become the Association of Southeast Asian Countries. Xi announced China will continue opening up its market to foreign business, providing new opportunities for the Asia Pacific and the world.

In the third quarter, Asia was the top destination for Chinese outbound investment, with $15.4 billion in investments including data centers and battery materials. Rhodium Group reported Chinese companies announced the most investments in Asia since the pandemic.

Read more at CNBC: China’s Xi urges Asian nations to keep supply chains stable, work together during ‘turbulent’ times