China, South Korea and Japan yesterday agreed to strengthen free trade in the face of a raft of new tariffs imposed by US President Donald Trump.
The agreement came at a meeting of top trade officials — the first at that level in five years — days ahead of the start of tariffs on a huge range of US imports, including cars, trucks and auto parts.
South Korea and Japan are major auto exporters, while China has also been hit hard by US tariffs. The meeting was attended by South Korean Minister of Industry, Trade and Energy Ahn Duk-geun, his Japanese counterpart Yoji Muto, and Chinese Minister of Commerce Wang Wentao (王文濤).
Photo: AFP
The three countries called for their negotiations for a comprehensive trilateral free-trade agreement to be sped up, and agreed to create “a predictable trade and investment environment,” a statement said.
The three countries must respond “jointly” to shared global challenges, Ahn said.
“Today’s economic and trade environment is marked by increasing fragmentation of the global economy,” he said.
“The international environment surrounding us is constantly changing, and uncertainties are increasing,” Japanese trade official Yasuji Komiyama told a news briefing.
Ahn emphasized that protectionism was “not the answer” and urged efforts to ensure the WTO functions properly to “safeguard the stability and predictability” of global commerce, the South Korean trade ministry said.
Trump has promised tariffs tailored to each trading partner from Wednesday to remedy practices he deems unfair.
However, he also told reporters last week that there would be “flexibility,” and markets appeared to react with some relief at the end of last week.
Following the meeting between the three ministers, they also held bilateral meetings gatherings.
Muto said regardless of domestic “political circumstances in either country,” he hopes that exchanges and cooperation would continue with South Korea.
Taiwanese Olympic badminton men’s doubles gold medalist Wang Chi-lin (王齊麟) and his new partner, Chiu Hsiang-chieh (邱相榤), clinched the men’s doubles title at the Yonex Taipei Open yesterday, becoming the second Taiwanese team to win a title in the tournament. Ranked 19th in the world, the Taiwanese duo defeated Kang Min-hyuk and Ki Dong-ju of South Korea 21-18, 21-15 in a pulsating 43-minute final to clinch their first doubles title after teaming up last year. Wang, the men’s doubles gold medalist at the 2020 and 2024 Olympics, partnered with Chiu in August last year after the retirement of his teammate Lee Yang
FALSE DOCUMENTS? Actor William Liao said he was ‘voluntarily cooperating’ with police after a suspect was accused of helping to produce false medical certificates Police yesterday questioned at least six entertainers amid allegations of evasion of compulsory military service, with Lee Chuan (李銓), a member of boy band Choc7 (超克7), and actor Daniel Chen (陳大天) among those summoned. The New Taipei City District Prosecutors’ Office in January launched an investigation into a group that was allegedly helping men dodge compulsory military service using falsified medical documents. Actor Darren Wang (王大陸) has been accused of being one of the group’s clients. As the investigation expanded, investigators at New Taipei City’s Yonghe Precinct said that other entertainers commissioned the group to obtain false documents. The main suspect, a man surnamed
US Secretary of the Treasury Scott Bessent and US Trade Representative Jamieson Greer began talks with high-ranking Chinese officials in Switzerland yesterday aiming to de-escalate a dispute that threatens to cut off trade between the world’s two biggest economies and damage the global economy. The US delegation has begun meetings in Geneva with a Chinese delegation led by Chinese Vice Premier He Lifeng (何立峰), Xinhua News Agency said. Diplomats from both sides also confirmed that the talks have begun, but spoke anonymously and the exact location of the talks was not made public. Prospects for a major breakthrough appear dim, but there is
The number of births in Taiwan fell to an all-time monthly low last month, while the population declined for the 16th consecutive month, Ministry of the Interior data released on Friday showed. The number of newborns totaled 8,684, which is 704 births fewer than in March and the lowest monthly figure on record, the ministry said. That is equivalent to roughly one baby born every five minutes and an annual crude birthrate of 4.52 per 1,000 people, the ministry added. Meanwhile, 17,205 deaths were recorded, resulting in a natural population decrease of 8,521, the data showed. More people are also leaving Taiwan, with net
RSS