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.
Start your day informed with AnewZ Morning Brief: here are the top news stories for April 30th, covering the latest developments you need to know.
Around 600 North Korean soldiers have been killed while fighting for Russia against Ukraine, according to South Korean lawmakers citing information from the country’s intelligence agency. The total number of North Korean troops deployed to fight alongside Russia is reported to be 15,000.
The Trump administration is reviewing possible changes to a Biden-era rule that restricts global access to advanced AI chips, including potentially scrapping the current system that divides countries into three tiers, according to three sources familiar with the matter.
President Donald Trump said on Tuesday he believes Russian President Vladimir Putin wants to end the war in Ukraine, even as missile strikes continue across the country.
President Vladimir Putin has signed a decree renaming Volgograd International Airport as Stalingrad, invoking Soviet wartime memory as Russia continues its war in Ukraine.
Russian drone strikes targeted the Ukrainian cities of Kharkiv and Dnipro late Tuesday, killing at least one person and injuring around 50 others, according to local officials.
A satellite developed by British scientists and engineers is poised to become the world’s first to capture three-dimensional measurements of Earth’s forests from space.
Operation in Iran’s Shahid Rajaei Port in the southern city of Bandar Abbas is back to normal after firefighters put off the deadly fire which broke out on Saturday, customs authorities said.
Germany’s Social Democratic Party (SPD) has approved a coalition agreement with the conservative Christian Democrats (CDU/CSU), securing the final step needed to form a new government under Chancellor-designate Friedrich Merz.
Political directors from France, Britain, and Germany are scheduled to meet with Iranian officials in Rome on Friday, according to two diplomatic sources who confirmed the meeting to Reuters.
Russia launched a major missile and drone assault on Kyiv overnight on April 24, killing at least twelve people and injuring 90, including children and a pregnant woman, according to Mayor Vitali Klitschko.
In an expansive interview marking his first 100 days back in office, President Donald Trump sketched out an agenda that touches everything from punitive tariffs and China policy to cease-fire hopes in Ukraine and an overhaul of domestic programmes. Below are the highlights.
A deadly explosion at Iran’s Bandar Abbas port has left at least 40 dead, with more than 1,200 people injured, state media reported on Sunday, halting operations at one of the country’s most vital trade hubs.
For three generations, the Liebigs built railcars in Görlitz. Now, the factory that shaped their lives will produce parts for battle tanks.
North Korea has launched a new 5,000-tonne destroyer as part of Kim Jong Un’s plans to expand the country’s naval power far beyond its coastal waters.
Russian drone strikes targeted the Ukrainian cities of Kharkiv and Dnipro late Tuesday, killing at least one person and injuring around 50 others, according to local officials.
Germany’s Social Democratic Party (SPD) has approved a coalition agreement with the conservative Christian Democrats (CDU/CSU), securing the final step needed to form a new government under Chancellor-designate Friedrich Merz.
Political directors from France, Britain, and Germany are scheduled to meet with Iranian officials in Rome on Friday, according to two diplomatic sources who confirmed the meeting to Reuters.
Meta, the parent company of Facebook, unveiled a free standalone artificial intelligence (AI) app for its Meta AI assistant on Tuesday, marking a significant move as part of the growing wave of new AI apps in the tech industry.
Russian President Vladimir Putin has signed a decree renaming Volgograd International Airport to its historical name of Stalingrad, a move made official late Tuesday.
Russian drone strikes targeted the Ukrainian cities of Kharkiv and Dnipro late Tuesday, killing at least one person and injuring around 50 others, according to local officials.
A satellite developed by British scientists and engineers is poised to become the world’s first to capture three-dimensional measurements of Earth’s forests from space.
Operation in Iran’s Shahid Rajaei Port in the southern city of Bandar Abbas is back to normal after firefighters put off the deadly fire which broke out on Saturday, customs authorities said.
Germany’s Social Democratic Party (SPD) has approved a coalition agreement with the conservative Christian Democrats (CDU/CSU), securing the final step needed to form a new government under Chancellor-designate Friedrich Merz.
Political directors from France, Britain, and Germany are scheduled to meet with Iranian officials in Rome on Friday, according to two diplomatic sources who confirmed the meeting to Reuters.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment