The leaders of the Asia-Pacific Economic Cooperation have reaffirmed the commitment to keep their markets open and to fight against all forms of protectionism. In a closing statement after meeting of the group at Lima in Peru, they pledged to work towards a sweeping new free trade agreement despite the political climate. The talks were dominated by doubts over the future of free trade and in particular the Trans-Pacific Partnership trade pact following the election of Donald Trump as President of United States.