South Korea, China, and Japan held their first economic dialogue in five years on Sunday, aiming to strengthen regional trade cooperation amid growing concerns over U.S. tariffs under President Donald Trump.
The three Asian export powers agreed to “closely cooperate for comprehensive and high-level” negotiations toward a South Korea-Japan-China free trade agreement. The goal is to promote regional and global trade, according to a statement released after the meeting.
South Korean Trade Minister Ahn Duk-geun emphasized the importance of enhancing the implementation of the Regional Comprehensive Economic Partnership (RCEP), which all three countries participate in. He also called for creating a framework to expand trade cooperation through trilateral FTA negotiations.
The meeting comes ahead of Trump’s upcoming announcement of further tariffs, which he refers to as “liberation day.” These measures are expected to impact Washington’s trading partners, including Seoul, Beijing, and Tokyo.
Despite their common interest in boosting trade, the three countries have faced tensions over various issues, including territorial disputes and Japan’s release of wastewater from the Fukushima nuclear power plant.
The countries have made little progress on a trilateral free-trade deal since talks began in 2012. RCEP, which went into effect in 2022, aims to lower trade barriers among 15 Asia-Pacific nations.
Trump’s recent decision to impose 25% import tariffs on cars and auto parts has raised concerns, particularly for Asian automakers who are among the largest vehicle exporters to the U.S. After Mexico, South Korea is the world’s largest exporter of vehicles to the United States, followed by Japan.
The ministers agreed to hold their next meeting in Japan, as discussions continue on how to navigate shifting trade dynamics and strengthen regional economic cooperation.
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U.S. President Donald Trump has extended his timeline on striking against Iran's energy sites, as Tehran says diplomacy is ongoing - latest on Middle East conflict.
The United Arab Emirates has told the U.S. and other Western allies that it is willing to participate in a multinational maritime taskforce aimed at reopening the Strait of Hormuz, the Financial Times reported on Friday, citing people familiar with the matter.
U.S. paper currency will bear President Donald Trump's signature starting this summer, the first time a sitting president has signed American money, the Treasury Department said on Thursday. The change comes as the United States prepares to celebrate its 250th anniversary.
Mexico's navy said it had activated a search-and-rescue operation in the Caribbean to locate two sailboats carrying humanitarian aid to Cuba after the vessels failed to arrive in Havana.
Israel said it had killed Alireza Tangsiri, the Commander of Iran’s Islamic Revolutionary Guards Corps (IRGC)’s Navy, on Thursday, as confict in the Middle East continued.
Iran has rejected a U.S. proposal to end the war, insisting any ceasefire will occur only on its own terms and timeline, according to a senior political-security official speaking to state-run Press TV on Wednesday.
Marine Le Pen, leader of France’s far-right National Rally (RN), said on Wednesday that the U.S. had “clearly made a mistake” in launching strikes on Iran, arguing Washington misjudged the resilience of the Iranian regime.
NASA announced on Tuesday it has cancelled plans to deploy a space station in lunar orbit and will instead use components from the project to build a $20 billion base on the moon's surface, while also planning to send a nuclear-powered spacecraft to Mars.
Russia’s Baltic ports of Primorsk and Ust-Luga, major export terminals, suspended loadings of crude oil and refined products on Wednesday after large-scale Ukrainian drone attacks triggered a blaze, sources told Reuters.
U.S. paper currency will bear President Donald Trump's signature starting this summer, the first time a sitting president has signed American money, the Treasury Department said on Thursday. The change comes as the United States prepares to celebrate its 250th anniversary.
Mexico's navy said it had activated a search-and-rescue operation in the Caribbean to locate two sailboats carrying humanitarian aid to Cuba after the vessels failed to arrive in Havana.
A powerful tropical cyclone in Western Australia has disrupted production at the country’s two biggest liquefied natural gas plants run by Chevron and Woodside, exacerbating a global supply crunch caused by the conflict in the Middle East.
France has rejected claims that South Africa was dropped from the guest list for this year’s G7 summit under pressure from United States, insisting the decision to invite Kenya was its own.
A U.S. federal judge raised concerns on Thursday about whether sanctions preventing Venezuela from funding the legal defense of Nicolás Maduro could violate his constitutional rights, though he did not dismiss the drug-trafficking charges against the former leader.
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