Stories

16 Asian countries could form the world's largest trading bloc

Xi, Abe
Japanese Prime Minister Shinzo Abe and Chinese President Xi Jinping. Photo: Xinhua/Lan Hongguang via Getty Images

Ministers representing 16 Asian-Pacific countries — including China, India, Australia and Japan — that make up a third of the global economy and half of the world's population met in Tokyo Sunday to discuss forming the world's largest trading bloc, reports Bloomberg.

Why it matters: These discussions come as President Trump is alienating allies and adversaries alike with tariffs and threats of an all-out global trade war. Trump's moves have also fostered an unlikely friendship between Asian giants China and Japan as the two hedge against uncertain U.S. foreign policy.