South Korea, China, and Japan have agreed to strengthen regional trade and speed up negotiations for a trilateral free trade pact, in response to US President Donald Trump's plans to impose reciprocal tariffs. The three countries aim to create a fair and high-quality free trade agreement that is mutually beneficial. They also plan to strengthen the Regional Comprehensive Economic Partnership and collaborate in rising industries such as renewable energy and digital transformation. This move comes as South Korea and Japan seek to decrease pressures from the US by increasing trade volume with China and Japan, and China aims to strengthen its position in the region and drive a wedge between the US and its traditional allies.

Original article source: https://www.arabnews.com/node/2595371/world
Source Id: 2025-03-675677622