Trade chiefs from some of the world’s biggest economies including the US and China agreed to focus on reforming global trade rules, after reaching an unexpected agreement by ignoring one of their biggest points of difference: tariffs.

The Asia-Pacific Economic Cooperation (APEC) group released a statement addressing 'fundamental challenges' in the global trading system but did not propose a unified response to significant U.S. tariffs affecting many of its members.

SEOGWIPO, South Korea (Reuters) -The Asia-Pacific Economic Cooperation's trade gathering adopted a joint statement on Friday that cited "fundamental challenges" facing the global trading system, after a meeting in South Korea overshadowed by divisions on U.S. tariffs.