China, Japan, South Korea unite to respond to Trump's tariffs

Image at a bank transaction office in Seoul, South Korea on March 31 - Photo: YONHAP

On March 31, the social media account Yuyuan Tantian, affiliated with CCTV, posted information saying that China, Japan and South Korea have agreed to jointly respond to US tariffs, Reuters reported.

The information was released after the three countries held their first economic dialogue in five years on March 30.

The meeting is aimed at facilitating regional trade, as Asia's top exporting powers face mounting risks from US President Donald Trump's tariff impositions.

According to the Weibo account Yuyuan Tantian, Japan and South Korea are looking to import semiconductor materials from China, while China is also interested in purchasing chip products from Japan and South Korea.

Accordingly, the three sides agreed to strengthen supply chain cooperation and engage more in dialogue on export controls.

According to Reuters, a statement issued after the meeting on March 30 said the three countries' trade ministers agreed to "work closely for comprehensive and high-level negotiations" on a South Korea-Japan-China free trade agreement to promote "regional and global trade".

Ministers from these economic powers met before April 2, when Mr. Trump announced he would announce reciprocal tariffs on many countries.

So far, Mr. Trump has imposed a new 20% tariff on imports from China, fully restored the 25% tariff on imported steel and aluminum globally, and imposed a 25% tariff on imports from Canada and Mexico.

Korean market reacts to reciprocal tariffs

On March 31, South Korean stocks recorded a 3% drop to their lowest level in the past two months, before Mr. Trump announced new import taxes.

The Korea Composite Stock Price Index (KOSPI) fell 76.86 points to close at 2,481.12, marking its lowest close since Feb. 3.

Read more Back to Topics

Back to topic

NGHI VU

Source: https://tuoitre.vn/trung-quoc-nhat-ban-han-quoc-doan-ket-ung-pho-thue-quan-cua-ong-trump-20250331233840894.htm