Top trade officials from South Korea and Japan are set to meet with their Chinese counterpart in Seoul this weekend to discuss economic cooperation as they seek ways to respond to increasing trade pressure from the US, according to a media report.
South Korea's Industry Minister Ahn Duk-geun will host the meeting with Japan's Yoji Muto and China's Wang Wentao on Sunday, the first such gathering among the three nations in five years, Yonhap News said. South Korea's Industry Ministry declined to confirm the report.
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The meeting comes just days after President Donald Trump signed a proclamation to implement a 25% tariff on auto imports. The auto tariffs will come into effect at 12:01 a.m. Washington time on April 3, initially targeting fully assembled vehicles. The president is expected to make an even broader announcement of so-called reciprocal tariffs around the same time.
The three Asian nations are among those Trump has cited as trade abusers. Japanese Prime Minister Shigeru Ishiba said Thursday he won't rule out taking countermeasures against the Trump administration's auto tariffs after Japan's repeated in-person pleas for an exemption went unheeded.
At this weekend's meeting, the three trade chiefs are likely to discuss a free trade agreement after the nations' leaders last May pledged to accelerate talks on the trade deal. Since then, two of the three leaders who attended the summit have been replaced, and all three nations are trying to stave off the impact of the Trump administration's tariff campaign.
Tokyo is expected to maintain its support for a free, open trade environment and confirm its strong economic ties with its neighbors. Japan is expected to host the next leaders' summit among the three nations, following a recent gathering of their top diplomats in Tokyo. Beijing has also been trying to stabilize ties with its major trading partners amid rising tensions over Washington's trade policies.
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