In the face of the tariff attack of USAJapan, South Korea and China have announced today (30.3.2025) that they want to strengthen their cooperation in order to provide “a predictable environment” to businesses, and to “accelerate” their negotiations on a free trade agreement without duties.
Ministers of industry or trade of the three countries today met in Seoul in a context of accelerating the rise of customs duties imposed by Washington. This tripartite session, urgently organized, is the first with this figure since 2020. The economy of the three Asian forces still depends largely on their exports, and each is affected, at various degrees, by the policy of US President Donald Trump.
The South Korean Minister of Industry if Duk-Gakes, Japanese counterpart Yodi Mutu and Chinese Minister of Commerce Wang Wedao agreed to “continue discussions of acceleration of negotiations towards one “Complete” and “Isonomy” Trilateral Free Trade Agreement“, According to a joint announcement.
Discussions about such an agreement began in 2013 and lasted until 2019 before losing their momentum. They resumed in 2024 on the occasion of an extraordinary trilateral summit between the three leaders in Seoul.
“We will continue to work to ensure equal conditions of competition on a global scale to form a predictable environment for commerce and investment, free, open, isonomos, without discrimination, transparent, which will not exclude anyone,” the joint announcement adds. And this, as opposed to the uninterrupted changes in Washington’s tariff policy, which intensify business uncertainties.
The three countries will “gradually intensify their partnerships” To “create a predictable commercial environment, stabilize supply chains, improve communication for export controls,” Seoul insists in a separate announcement.
More generally, Seoul, Beijing and Tokyo today agreed to “work closely” for a reform of the World Trade Organization and to encourage the integration of new members into the regional financial partnership (RCP) that joins China and 14 Asian countries.
“Unilateralism and protectionism are spreading, exerting strong pressure on global exchanges and increasing uncertainty. The three countries must take responsibility (…) to maintain the multilateral trade system and promote regional economic integration, “the Chinese government insisted in its statement.
Together, China, Japan and South Korea represent about 20% of the world population, 1/4 of the world economy and 20% of world trade. This trilateral session was held after the implementation of 25% US customs customs duties in steel and aluminum by mid -March, and a few days before 25% on April 2, on April 2 on cars imported to the United States.
Japan and South Korea represent 16% and 15% of all car imports in the USan important sector for their national economies. China faces, for its part, a total of 20% of all its exports to the US.