South Korea, China, and Japan Strengthen Trade Cooperation Amid U.S. Tariff Concerns

South Korea, China, and Japan have reaffirmed their commitment to enhancing regional trade cooperation as they brace for new tariffs from the United States. In their first high-level economic dialogue in five years, trade ministers from the three nations agreed to intensify discussions on a trilateral free trade agreement (FTA) and strengthen economic ties to mitigate external trade risks.

The meeting emphasized the need to reinforce the Regional Comprehensive Economic Partnership (RCEP), a trade pact among 15 Asia-Pacific countries aimed at reducing barriers and promoting economic integration. South Korean Trade Minister Ahn Duk-geun highlighted the importance of expanding regional trade frameworks to sustain economic growth amid growing global trade uncertainties.

The discussions come ahead of U.S. President Donald Trump’s expected announcement of additional tariffs, including a 25% tariff on imported cars and auto parts. These measures could significantly impact South Korea and Japan, both of which are leading vehicle exporters to the U.S. market.

According to S&P Global, South Korea ranks as the second-largest exporter of vehicles to the United States, following Mexico, while Japan holds the third position. The new tariffs pose challenges for Asian automakers, potentially disrupting supply chains and increasing production costs.

Despite economic interdependence, South Korea, China, and Japan have faced diplomatic tensions, including disputes over territorial claims and Japan’s handling of the Fukushima wastewater release. However, all three nations emphasized the urgency of regional collaboration to counter external trade pressures.

The ministers agreed to continue negotiations and hold their next meeting in Japan, signaling a unified approach toward strengthening economic stability and promoting long-term trade cooperation in the region.