Xi Jinping Opens Chinese-Funded Port in Peru

Chinese President Xi Jinping has embarked on a visit to Peru, marking the beginning of a South American trip that also includes attendance at the G20 summit in Brazil. His primary agenda in Peru includes the inauguration of a $3.5 billion megaport in Chancay, which is expected to enhance trade with various South American countries and serve as a significant hub for trade with Asia. This visit occurs amid concerns over potential trade tensions following the recent election of Donald Trump, who has threatened to impose substantial tariffs on Chinese imports. Xi's trip underscores China's growing influence in the region, with Peru being a key trading partner, as bilateral trade reached nearly $36 billion in 2023. Additionally, Xi's participation in the APEC meeting will focus on topics such as energy transition and emerging technologies, amidst fears of a shift in U.S. trade policy under Trump. The development of the Chancay port is seen as part of China's broader Belt and Road Initiative, reflecting its commitment to expanding infrastructure globally.