President Ferdinand “Bongbong” Marcos Jr. said on Thursday that the high-stakes meeting between U.S. President Donald Trump and Chinese President Xi Jinping will have a major impact on the discussions and outcomes of the 2025 Asia-Pacific Economic Cooperation (APEC) Summit in South Korea.

Marcos said the Trump-Xi dialogue will shape the global economic environment and inevitably influence the agenda of APEC leaders.

He also noted that the world’s attention is fixed on the two superpowers, whose ongoing talks could redefine global trade relations amid lingering tensions between Washington and Beijing.

“The world is watching because this is the source of the largest shock that has entered into the world trade system. And we have to see what the agreements will be coming out of these meeting between President Xi and President Trump,” Marcos said in his speech before he departed for Gyeongju, Republic of Korea.

“Those will certainly color everything that we will be talking about in this APEC because the agreements or the arrangements that are made between two of the largest economies of the world will certainly affect every single citizen of the world,” he added.

Marcos pointed out this year’s APEC summit’s uniqueness as trade decisions between U.S. and China, happening alongside the official meetings, could affect the global economy.

“This APEC meeting a much different meeting from all the others that we have attended because on the sidelines are the decisions being made on how trade is going to be conducted certainly, at least between the two largest economies in the world but with an effect, with a ripple effect for entire global economy,” he said.

“And so that we are looking out for, that is what we need to understand and that is why the world is watching and waiting as we are,” he added. 

Trump and Xi met earlier Thursday at a South Korean air base, where both leaders expressed optimism about achieving a breakthrough in the long-running U.S.-China trade dispute.

“We are going to have a very successful meeting, I have no doubt. But he is a very tough negotiator,” Trump told reporters before the talks, as he and Xi shook hands.

Xi, for his part, said negotiators from both sides had reached a “fundamental consensus on addressing each other's primary concerns” in recent days, adding that he was “willing to continue working with President Trump to lay a solid foundation for China-U.S. relations.”

China’s yuan surged to its highest level against the U.S. dollar in nearly a year, fueled by investor optimism over a potential easing of trade tensions that have unsettled global markets. In tandem, stock markets worldwide, from Wall Street to Tokyo, have climbed to record highs in recent days.

Trump has repeatedly expressed confidence in the possibility of reaching a deal with Xi during their meeting on the sidelines of the APEC summit, as trade negotiators from both countries appeared to reach a preliminary understanding in Kuala Lumpur on Sunday.

Meanwhile, Marcos said he intends to use his participation in the APEC Summit to highlight the Philippines’ commitment to fostering regional cooperation and innovation-driven growth.

He will address the APEC CEO Summit to emphasize the country’s push for digital transformation and closer economic partnerships, and will also meet with Korean business leaders to promote investment opportunities in the Philippines.

The President is also scheduled to meet with members of the Filipino community in South Korea during his visit.