Suche
Mein Konto
Free trade in focus: South Korea, Japan and China seek agreement in Seoul
Trade ministers from China, Japan and South Korea discuss free trade in Seoul, boosted by impending US tariffs.
Free trade in focus: South Korea, Japan and China seek agreement in Seoul
In a major meeting in Seoul, the trade ministers of South Korea, Japan and China met for the first time in six years to discuss free trade. This meeting took place at an important time, as further US tariffs are set to come into force in the coming days.
Ministers reached an agreement to promote a Korea-Japan-China free trade agreement, emphasizing the need for closer economic and trade cooperation. Ahn Duk Geun, South Korea's trade minister, also called for restoring the role of the World Trade Organization to create a stable environment for global trade.
US tariffs and their effects
The US government has introduced various trade restrictions since January, particularly affecting goods from China, which are subject to around 20 percent tariffs at the border. New tariffs of 25 percent on car imports into the USA are also set to come into force next week. Since South Korea and Japan are major auto exporters to the United States, this poses a relevant economic challenge for both countries t-online.de reported.
Additional information about this meeting and the topics discussed is also included boersennews.de available.