China, Japan, South Korea agree to strengthen free trade

South Korea, China, and Japan held their first economic dialogue in five years on Sunday, seeking to facilitate regional trade as the three Asian export powers brace from US President Donald Trump's tariffs.

News ID: 2001025

EghtesadOnline: The countries' three trade ministers agreed to "closely cooperate for a comprehensive and high-level" talks on a South Korea-Japan-China free trade agreement deal to promote "regional and global trade", according to a statement released after the meeting.

"It is necessary to strengthen the implementation of RCEP, in which all three countries have participated, and to create a framework for expanding trade cooperation among the three countries through Korea-China-Japan FTA negotiations," said South Korean Trade Minister Ahn Duk-geun, referring to the Regional Comprehensive Economic Partnership, Reuters reported.

The ministers met ahead of Trump's announcement on Wednesday of more tariffs in what he calls "liberation day", as he upends Washington's trading partnerships.

Trump announced 25% import tariffs on cars and auto parts last week, a move that may hurt companies, especially Asian automakers, which are among the largest vehicle exporters to the US. / Mehr