China seeks stronger trade ties with South Korea and Japan amid Trump's tariffs threat

Chinese Foreign Minister Wang Yi on Saturday pushed for stronger trade ties with South Korea and Japan at a time when US President Donald Trump’s tariff threats are changing the course of world trade.

During a meeting with his South Korean and Japanese counterparts in Tokyo, Yi said that the three countries need to forge free trade and regional cooperation amid broader “changes and chaos”. He also urged deepening trust and strengthening communication with Beijing.

“[We] all agree that, in the context of an international situation that is intertwined with changes and chaos, as well as the sluggish recovery of the world economy, it is necessary for China, Japan and South Korea to further strengthen communication, enhance mutual trust, deepen cooperation and provide more stabilising factors for regional peace and development,” the Chinese foreign minister said.

The talks followed a rare trilateral summit in May 2024 in Seoul where the neighbours – riven by historical and territorial disputes – agreed to deepen ties and restated their goal of a denuclearised Korean peninsula.

The three ministers also announced preparations to hold a summit between Chinese Premier Li Qiang and his Japanese and South Korean counterparts later this year.

‘Peace and cooperation’

Japan, South Korea and China agreed Saturday that peace on the Korean peninsula was a shared responsibility, Seoul’s foreign minister said.

“We reaffirmed that maintaining peace and stability on the Korean peninsula is a shared interest and responsibility of the three countries,” South Korea’s Cho Tae-yul said Saturday.

“Additionally, I stressed that illegal military cooperation between Russia and North Korea must be immediately halted,” he said.

Japanese Foreign Minister Takeshi Iwaya said he, Cho, and China’s Wang Yi “had a frank exchange of views on trilateral cooperation and regional international affairs… and confirmed that we will promote future-orientated cooperation”.

On North Korea

Regarding North Korea, Wang emphasized China’s readiness to collaborate with all parties to advance a political resolution.

“The current situation on the Korean peninsula is complex, sensitive, unstable, and with increasing uncertainties,” he said.

“All parties should face up to the root causes of the peninsula issue, meet each other halfway, show goodwill to each other, strive to form positive interactions, and seek the greatest common ground of their respective concerns,” he added.

With inputs from agencies