Overview

• South Korea, China, and Japan have agreed to pursue a trilateral free trade agreement to bolster regional economic cooperation.
• The meeting marks the first trilateral trade discussion between the three nations in six years, reflecting renewed efforts to address global trade challenges.
• South Korea's trade minister emphasized the importance of restoring the World Trade Organization's role to stabilize the global trade environment.
• The agreement comes just days before the U.S. is set to impose a 25% tariff on auto imports, intensifying trade tensions worldwide.
• Japan and South Korea, key exporters of automobiles to the U.S., face significant economic risks from the impending auto tariffs.