Seoul Announces Rare High-Level Trade Meeting with Tokyo and Beijing

Seoul, 28 March 2025 (BSS/AFP) – Senior trade officials from South Korea, Japan, and China are set to convene this weekend in Seoul to discuss economic cooperation, marking the first such trilateral meeting in five years, a South Korean government source confirmed on Friday.

The announcement comes in the wake of US President Donald Trump’s recent decision to impose a 25 percent tariff on all cars and light trucks manufactured outside the United States. The move has raised concerns among major auto-exporting nations, including South Korea and Japan, while China has also been significantly affected by Washington’s broader tariff measures.

Details of the Meeting

The “Trilateral Economic and Trade Ministers’ Meeting” is scheduled for Sunday morning in Seoul and will be attended by:

Bilateral meetings between the nations are also expected to take place alongside the main discussions.

Impact of US Tariff Measures

South Korea’s Minister Ahn highlighted the significant risks posed by the new US tariffs, noting that 50 percent of South Korea’s automobile exports are destined for the US. Speaking at an emergency meeting on Thursday, Ahn warned that the tariffs could cause “severe damage to the industry.”

“The process of responding to US tariff measures will not be resolved in a single round of talks, and is expected to take time. Despite growing global uncertainties, the government will stand with our companies throughout this process.”

Economic Impact on Major Players

China’s Commerce Minister Wang Wentao strongly criticised the US measures, arguing that the tariffs “disrupt the stability of the global industrial supply chain and hinder the development of the global economy.”

He further warned that if the US continued down this “wrong path,” China would “fight to the end.”

Japanese Response and Economic Stakes

The Japanese government has also voiced strong opposition to the tariffs, calling them “extremely regrettable.”

Japan is home to the world’s leading car manufacturer, Toyota, and the automobile industry plays a vital role in the nation’s economy. In 2024, Japan exported 21.3 trillion yen ($145 billion) worth of goods to the US, with automobiles and related vehicles accounting for nearly a third of that figure. The imposition of new tariffs could have far-reaching effects across multiple industries, from auto parts and steel to semiconductors.

Outlook and Next Steps

The upcoming Seoul meeting is expected to focus on developing a coordinated response to the US trade measures while exploring ways to strengthen economic ties among the three nations. Given the magnitude of the issue, it is unlikely that a resolution will be reached in a single round of discussions, but this meeting could lay the groundwork for further negotiations in the coming months.

The global trade landscape remains uncertain as tensions continue to rise, and all eyes will be on how Seoul, Tokyo, and Beijing navigate these challenges in the face of US economic pressure.