China, Japan And South Korea Agreed To Strengthen Free Trade At A Meeting Of Trade Ministers

The meeting comes at a time when U.S. President Donald Trump has announced punitive tariffs on a wide range of imports, including passenger cars, trucks, and auto parts, disrupting global trade.

Japan and South Korea are major auto exporters, while China has also been hit hard by the additional U.S. tariffs.

The meeting was attended by Japanese Economy, Trade and Industry Minister Yoshiharu Muto, South Korean Trade, Industry and Energy Minister Ahn Deok-geun, and Chinese Commerce Minister Wang Wentao.

According to the joint statement, the three countries agreed to accelerate negotiations to reach a comprehensive trilateral free trade agreement and create a "predictable trade and investment environment".

South Korean Foreign Minister Ahn Cheol-soo said the three countries needed to "jointly" respond to common global challenges, adding that "today's economic and trade environment is characterized by an increasingly polarized global economy."