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China, Japan, and South Korea have agreed to coordinate their response to US tariffs, a social media account linked to Chinese state broadcaster CCTV reported Monday.
The decision follows the first economic dialogue between the three nations in five years, held on Sunday as they seek to bolster regional trade amid concerns over US President Donald Trump’s tariff policies.
According to the Weibo account Yuyuan Tantian, Japan and South Korea are looking to import raw semiconductor materials from Beijing, while China is interested in purchasing chip products from the two countries.
The three nations also agreed to enhance supply chain cooperation and hold further discussions on export controls, the post said.
A joint statement following the meeting confirmed that the countries’ trade ministers pledged to “closely cooperate for comprehensive and high-level” negotiations on a South Korea-Japan-China free trade agreement to support regional and global trade.
The ministers met ahead of Trump’s planned announcement on Wednesday of more tariffs in what he calls ”liberation day”, as he upends Washington’s trading partnerships.
Beijing, Seoul and Tokyo are major U.S. trading partners, although they have been at loggerheads amongst themselves over issues including territorial disputes and Japan’s release of wastewater from the wrecked Fukushima nuclear power plant.
With inputs from agencies