China, South Korea, Japan Agree to Boost Free Trade

China, South Korea, and Japan have agreed to enhance free trade following a high-level meeting in Seoul on Sunday, marking the first such gathering in five years. The meeting took place amid growing global trade uncertainties sparked by U.S. President Donald Trump's imposition of punitive tariffs on a wide array of imports, including cars, trucks, and auto parts.

South Korea and Japan, key auto exporters, and China, also significantly affected by U.S. tariffs, attended the discussions. The meeting was led by South Korean Industry Minister Ahn Duk-geun, Japanese Trade Minister Yoji Muto, and China's Commerce Minister Wang Wentao.

The three countries pledged to accelerate negotiations for a comprehensive trilateral free trade agreement and create a more predictable trade and investment environment, according to a joint statement.

Ahn emphasized the need for the three nations to address global challenges "jointly" in an increasingly fragmented economic landscape.

The meeting came as President Trump promised to impose targeted tariffs starting April 2 to address trade practices he considers unfair. However, he also hinted at possible flexibility, which appeared to bring some market relief last week.