South Korea's acting President Han Duck-soo ordered emergency support measures for businesses that will be impacted by the imposition of U.S. tariffs, including automobiles, the industry ministry said on Thursday.
China is seeking to coordinate its response to U.S. tariffs with Japan and South Korea, Chinese state media said.
The strength of these alliances depends on whether Trump views Tokyo and Seoul as bulwarks against China’s rise or vassals that can be extorted for financial gain.
Seoul, Beijing and Tokyo are major U.S. trading partners, although they have been at loggerheads among themselves over issues, including territorial disputes.
China, Japan, and South Korea agreed to a joint response to US tariffs after their first economic dialogue in five years. They plan to strengthen supply chains, cooperate on export controls, and pursue a free trade agreement.
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France 24 on MSNChina, South Korea and Japan agree to strengthen trade ties in response to Trump tariffsChina, South Korea and Japan struck a deal on Sunday to strengthen their free trade ties with each other in a bid to fend off the steep tariffs that have been put in place by US President Donald Trump.
Stocks in auto export powerhouses Japan and South Korea both plunged Monday in anticipation of stiff new tariffs on Asian goods imported into the U.S. that are set to go into effect Wednesday.
Foreign ministers from Japan, China and South Korea sought common ground in areas like aging, low birth rates, natural disasters and cultural exchange at a meeting that took place at a time of growing tensions.