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3w ago

China, Japan, South Korea Advance Trade Pact Talks in Response to U.S. Tariffs

The three nations held their first economic dialogue in over five years, agreeing to expedite free trade negotiations and strengthen supply chain cooperation as new U.S. tariffs loom.

Semiconductor chips are seen on a circuit board of a computer in this illustration picture taken February 25, 2022. REUTERS/Florence Lo/Illustration/File Photo
(From L) Japanese Economy, Trade and Industry Minister Yoji Muto, South Korea's Trade, Industry and Energy Minister Ahn Duk Geun and Chinese Commerce Minister Wang Wentao pose for a photo ahead of their trilateral talks in Seoul on March 30, 2025.
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U.S. President Donald Trump makes an announcement about an investment from Taiwan Semiconductor Manufacturing Company (TSMC), in the Roosevelt Room at the White House in Washington, D.C., U.S., March 3, 2025. REUTERS/Leah Millis/ File Photo

Overview

  • China, Japan, and South Korea convened their first trilateral economic dialogue since 2019, focusing on trade cooperation and countering U.S. tariffs set to take effect this week.
  • The trade ministers agreed to accelerate negotiations for a trilateral free trade agreement to promote regional and global trade stability.
  • Efforts to strengthen supply chain resilience, particularly in semiconductors, were prioritized, with discussions on export controls also planned.
  • The U.S. tariffs, including those on automobiles and auto parts, are expected to significantly impact the economies of all three nations.
  • Japan and South Korea are seeking to source semiconductor materials from China, while China aims to purchase chip products from its neighbors.