Rare summit in response to the offensive Trump duties
Japan, South Korea and China have declared today that they will strengthen their cooperation “to create a predictable environment for trade and investments”, according to a joint press release published after a special minimum meeting meeting.
The ministers of three Asian countries responsible for industry and trade met in Seoul in response to the customs offensive of the American president Donald Trump.
They also asked to “accelerate” the negotiations underway since 2013 to conclude “a trilateral free trade agreement”. The meeting between the exponents of Beijing, Seoul and Tokyo is the first at this level in five years.
Trump has thrown global trade in chaos with a series of punitive rates on a wide range of imports, including cars, trucks and car parts. South Korea and Japan are important car exporters, while China was also severely hit by the new US duties.
The meeting was attended by the South Korean Minister of Industry Ahn Duk-Geun, his Japanese counterpart Yoji Muto and the Chinese Wang Wento one. Ahn said that the three countries must respond jointly “to the shared global challenges.
“The current economic and commercial environment is characterized by a growing fragmentation of the global economy,” he said.
