World leaders, including Prime Minister Anthony Albanese, are converging in Peru – but the man who is stirring most of the discussion won’t be there.

The election of Donald Trump in the US has sent reverberations across diplomatic circles with concerns his protectionist, America-first trade policies and import tariffs could skim tens of billions of dollars off the Australian economy.

Australia will promote stronger trade ties and work with international partners on economic growth, Albanese said ahead of flying to the Asia-Pacific Economic Cooperation conference in South America on Wednesday.

“We are working at home and with international partners to put downward pressure on inflation and help safeguard Australia’s economy against global challenges,” he said.

Albanese said he remained optimistic about the trading relationship under a Trump presidency, while Treasurer Jim Chalmers has acknowledged Australia won’t be immune from global shocks from any trade war in the region.

“The US has a trade surplus with Australia. It’s in the United States’ interests and also Australia’s interests for there to continue to be trade between our two great nations and I’m confident that will continue to occur,” Albanese said.

Trump’s election comes as APEC leaders from 21 major economies meet to boost trading relationships in the region and promote economic growth.

US President Joe Biden and Chinese President Xi Jinping will be among those at the summit.

Peru is searching for more consensus among leaders in the non-binding forum after agreement on green energy, economic inclusion of persons with disabilities and reducing food wastage.

Xi is expected to inaugurate a major Chinese-built port and sign an updated free trade agreement with Peru that could boost commerce by as much as 50 per cent, Reuters reports.

Peru is also finalising a trade pact with Hong Kong and negotiating with Thailand and Indonesia.

China has large holdings in major Peruvian mining projects. Lima wants to diversify those by attracting Australian investment with a Peruvian delegation led by the prime minister soliciting interest at a mining conference in Sydney.

Peru had to be wary of being overreliant on China, which has $US25 billion (A38 billion) invested in the South American country’s mining and critical minerals sector, Energy Minister Romulo Mucho said.

More than 15,000 police and soldiers have been deployed across the Peruvian capital Lima, schools have been shut and public servants have been told to work remotely as the leaders arrive.

There will be a ministerial meeting on Thursday (local time) before leaders meet on Friday and Saturday.

Albanese will travel from APEC to the G20 summit in Brazil, where he will discuss Australia being a “major power” in food security due to its agriculture sector as well as a vital supplier of energy.

-AAP