U.S. President Joe Biden on Thursday said he would keep working to advance a Pacific trade pact, even as his vision for a regional deal to counter China's influence stumbled over his bid to strengthen workers' rights.
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    SAN FRANCISCO, Nov 16 (Reuters) - U.S. President Joe Biden on Thursday said he would keep working to advance a Pacific trade pact, even as his vision for a regional deal to counter China’s influence stumbled over his bid to strengthen workers’ rights.

    Biden, a Democrat, could face Republican Trump again in next year’s presidential election, a face-off that could impact U.S. support of multi-lateral groups like APEC or the IMF and trade policy.

    U.S. Commerce Secretary Gina Raimondo said earlier on Thursday IPEF countries had agreed on several “pillars” of the trade initiative, covering cooperation on clean energy and anti-corruption measures.

    APEC members have been closely watching developments between the U.S. and China, the world’s two largest economies and strategic rivals, concerned that ever more intense competition could upset global trade and security.

    Biden, who held a high-stakes summit with Chinese President Xi Jinping on Wednesday aimed at steadying tense relations, said a stable relationship between the U.S. and China was good for the world.

    Richard Adkerson, chief executive of mining company Freeport-McMoRan Inc (FCX.N), with operations in Peru and Indonesia, said he was “encouraged” by signs of improving relations between the China and the United States, including the presidents’ meeting.

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