China, Japan, South Korea Pledge Trade Cooperation

China, Japan, and South Korea agreed on Sunday to bolster free trade and economic cooperation in response to new tariffs imposed by U.S. President Donald Trump. The three countries—key U.S. trade partners—held their first trilateral economic dialogue in five years, signaling a shared commitment to regional and global trade despite longstanding political tensions.

Following the meeting in Seoul, trade ministers from the three nations issued a joint statement vowing to pursue a "comprehensive and high-level" free trade agreement (FTA) to enhance trade integration. The discussions included South Korean Industry Minister Ahn Duk-geun, Japanese Minister Yoji Muto, and Chinese Commerce Minister Wang Wentao.

The dialogue comes as Trump prepares to announce additional tariffs this week, which he has dubbed "liberation day." Last week, the U.S. imposed 25% tariffs on auto and auto parts imports, a move expected to heavily impact Asian exporters.

Calls for Stronger Multilateral Trade Framework

South Korea’s Ahn emphasized the need to reinforce the Regional Comprehensive Economic Partnership (RCEP), a trade pact involving all three nations, while advancing negotiations for a trilateral FTA. "It is necessary to create a framework for expanding trade cooperation among the three countries," he said.

The ministers agreed to foster a "predictable trade and investment environment" and address global economic challenges collectively. "Today's economic and trade environment is marked by increasing fragmentation of the global economy," Ahn noted.

China’s Wang Liping warned against the rise of "unilateralism and protectionism," urging the three nations to uphold the multilateral trading system.

Despite launching FTA talks in 2012, progress has been slow. The ministers agreed to hold their next meeting in Japan but did not set a timeline for concluding negotiations.