China, Japan, South Korea agree to promote regional trade as Trump tariffs loom

South Korea, China, and Japan discuss free trade agreement amid U.S. tariffs, aiming to boost regional trade cooperation.

South Korea, China and Japan held their first economic dialogue in five years on Sunday (March 30, 2025), seeking to facilitate regional trade as the three Asian export powers brace from U.S. President Donald Trump's tariffs.

The three countries' Trade Ministers agreed to "closely cooperate for a comprehensive and high-level" talks on a South Korea-Japan-China free trade agreement deal to promote "regional and global trade", according to a statement released after the meeting.

"It is necessary to strengthen the implementation of RCEP, in which all three countries have participated, and to create a framework for expanding trade cooperation among the three countries through Korea-China-Japan FTA negotiations," said South Korean Trade Minister Ahn Duk-geun, referring to the Regional Comprehensive Economic Partnership.

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The Ministers met ahead of Mr. Trump's announcement on Wednesday (April 2, 2025) of more tariffs in what he calls "liberation day", as he upends Washington's trading partnerships.

Seoul, Beijing and Tokyo are major U.S. major trading partners, although they have been at loggerheads among themselves over issues including territorial disputes and Japan's release of wastewater from the wrecked Fukushima nuclear power plant.

They have not made substantial progress on a trilateral free-trade deal since starting talks in 2012.