China, Japan, South Korea Strengthen Trade Ties

China, Japan, and South Korea have agreed to enhance trade cooperation following a high-level meeting in Seoul on Sunday.

The gathering marked the first economic dialogue between the three nations in five years and took place amid growing concerns over US trade policies.

South Korean Industry Minister Ahn Duk-geun, Japanese Trade Minister Yoji Muto, and Chinese Commerce Minister Wang Wentao participated in the discussions, which focused on regional trade stability.

The talks come as former US President Donald Trump, a leading candidate in the upcoming elections, has vowed to impose new tariffs on imports, potentially disrupting global trade.

Trump has previously implemented steep tariffs on goods from China and other countries, and he has hinted at further protectionist measures.

His administration's past tariffs, particularly on automotive imports, significantly impacted Asian economies, which are among the largest auto exporters to the U.S.

The three countries reaffirmed their commitment to advancing negotiations for a long-delayed trilateral free trade agreement (FTA). Talks on the deal first began in 2012 but have been stalled due to geopolitical tensions and territorial disputes.

In a joint statement, the ministers emphasized their intention to establish "a predictable trade and investment environment" and promote "regional and global trade" through comprehensive and high-level discussions.

South Korea's Trade Minister Ahn highlighted the importance of deepening economic ties, stressing the need for the three nations to work together in response to increasing global economic fragmentation.

He also underscored the significance of the Regional Comprehensive Economic Partnership (RCEP), a major trade pact that includes all three countries.