China, South Korea and Japan agree to strengthen free trade ...Middle East

News by : (Daily Sun) -

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.

The meeting was attended by South Korea's industry minister Ahn Duk-geun, his Japanese counterpart Yoji Muto, and China's Wang Wentao.

South Korea's Ahn said the three countries must respond “jointly” to shared global challenges.

“The international environment surrounding us is constantly changing, and uncertainties are increasing,“ Japanese trade official Yasuji Komiyama said in a press briefing.

The three countries account for 20 percent of the world's population, 24 percent of the global economy, and 19 percent of global merchandise trade, he said.

But 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.

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