Japan, China, South Korea discuss free trade deal amid Trump tariffs Industry ministers from Japan, China, and South Korea have returned to the idea of free trade between their countries. This comes just days before the US is expected to introduce new tariffs worldwide, Bloomberg reports. South Korea’s Minister of Industry Ahn Duk-geun, along with his counterparts from Japan, Yoji Muto, and China, Wang Wentao, discussed a free trade agreement on Sunday in Seoul. It is noted that while they did not make significant progress toward such an agreement, the meeting demonstrated a growing willingness among the three countries to strengthen ties amid the impact of US tariffs. "We especially recognized the need for ongoing trilateral economic and trade cooperation to effectively address emerging challenges and achieve tangible outcomes in key areas," the three ministers said in a joint statement. They also pledged to strengthen the Regional Comprehensive Economic Partnership (RCEP), a framework aimed at optimizing supply chains and expanding trade and investment among Asia's largest economies, including China, Japan, and South Korea. The United States is not part of this agreement.
Industry ministers from Japan, China, and South Korea have returned to the idea of free trade between their countries. This comes just days before the US is expected to introduce new tariffs worldwide, Bloomberg reports. South Korea’s Minister of Industry Ahn Duk-geun, along with his counterparts from Japan, Yoji Muto, and China, Wang Wentao, discussed a free trade agreement on Sunday in Seoul.
It is noted that while they did not make significant progress toward such an agreement, the meeting demonstrated a growing willingness among the three countries to strengthen ties amid the impact of US tariffs. "We especially recognized the need for ongoing trilateral economic and trade cooperation to effectively address emerging challenges and achieve tangible outcomes in key areas," the three ministers said in a joint statement. They also pledged to strengthen the Regional Comprehensive Economic Partnership (RCEP), a framework aimed at optimizing supply chains and expanding trade and investment among Asia's largest economies, including China, Japan, and South Korea. The United States is not part of this agreement.