World trade
China, Japan, South Korea talk about US tariffs about free trade
After a long time, the trade ministers of the three most important economies meet in East Asia. They agree more cooperation. But that’s not the only topic.
South Korea, China and Japan’s commercial ministers agreed to advance a free trade agreement at a meeting that has been held for the first time for the first time. South Korea’s Minister of Commerce Ahn Duk received his counterpart Yoji Muto from Japan and Wang Wentao from China a few days before the entry into force came into force in the South Korean capital Seoul.
In a joint statement, the three state representatives agreed to promote a Korean-Japanese-Chinese free trade agreement and emphasized that it was necessary to work closer together in business and trade. According to the declaration, the Minister of Commerce of the three countries met in this form for the first time in six years.
For more stable world trade
In view of the rapidly changing global economic and trade environment, the meeting is also important for the international community, said Ahn, according to South Korea’s official news agency Yonhap. He called to restore the role of the world trade organization in order to create a stable environment for world trade.
The US government under President Donald Trump has already introduced various trading constraints in January. Around 20 percent of the border from China is omitted. In the coming week, 25 percent tariffs will also come into force on car imports in the USA. South Korea and Japan are important car exporters to the United States.
dpa
Source: Stern
