The tree edit distance (TED) between two rooted ordered trees with $n$ nodes labeled from an alphabet $Σ$ is the minimum cost of transforming one tree into the other by a sequence of valid operations consisting of insertions, deletions and relabeling of nodes. The tree edit distance is a well-known generalization of string edit distance and has been studied since the 1970s. Years of steady improvements have led to an $O(n^3)$ algorithm [DMRW 2010]. Fine-grained complexity casts light onto the hardness of TED showing that a truly subcubic time algorithm for TED implies a truly subcubic time algorithm for All-Pairs Shortest Paths (APSP) [BGMW 2020]. Therefore, under the popular APSP hypothesis, a truly subcubic time algorithm for TED cannot exist. However, unlike many problems in fine-grained complexity for which conditional hardness based on APSP also comes with equivalence to APSP, whether TED can be reduced to APSP has remained unknown. In this paper, we resolve this. Not only we show that TED is fine-grained equivalent to APSP, our reduction is tight enough, so that combined with the fastest APSP algorithm to-date [Williams 2018] it gives the first ever subcubic time algorithm for TED running in $n^3/2^{Ω(\sqrt{\log{n}})}$ time. We also consider the unweighted tree edit distance problem in which the cost of each edit is one. For unweighted TED, a truly subcubic algorithm is known due to Mao [Mao 2022], later improved slightly by Dürr [Dürr 2023] to run in $O(n^{2.9148})$. Their algorithm uses bounded monotone min-plus product as a crucial subroutine, and the best running time for this product is $\tilde{O}(n^{\frac{3+ω}{2}})\leq O(n^{2.6857})$ (where $ω$ is the exponent of fast matrix multiplication). In this work, we close this gap and give an algorithm for unweighted TED that runs in $\tilde{O}(n^{\frac{3+ω}{2}})$ time.