This policy brief examines the changing relationship between trade and economic output in APEC economies from 1995 to 2024, econometrically identifying structural breakpoints and periods that reflect major shifts in regional trade dynamism from optimism and integration to disillusionment and tension. But the narrative of trade and regional cooperation in the Asia-Pacific is still being written. The brief highlights two priorities for APEC: rebuilding public support for trade by ensuring its benefits are more equitably shared, and reducing uncertainty through clearer commitments, renewed cooperation and more predictable trade policy choices.