South Korea, China, and Japan are ramping up efforts to deepen regional trade ties as the U.S. prepares for more tariff announcements under Trump’s so-called “Liberation Day” on Wednesday.
“It is necessary to strengthen the implementation of RCEP… 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.
The statement comes as tensions rise — not just with Washington, but also among the trio themselves over territorial disputes and Japan’s Fukushima wastewater release.
Talks for a trilateral FTA have stalled since 2012, but the ministers agreed to reconvene in Japan later this year.
Meanwhile, Trump’s 25% tariffs on auto imports threaten to hit Asian automakers hard. After Mexico, South Korea and Japan are the top vehicle exporters to the U.S., per S&P data.
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