SEOUL (Reuters) – The industry ministers of South Korea and China met on Saturday to discuss the evolving global trade environment and agreed to cooperate bilaterally as well as on multinational trade forums, the South’s industry ministry said.
China’s Commerce Minister Wang Wentao is visiting Seoul for a three-way ministerial meeting on Sunday with South Korea’s Ahn Duk-geun and Japanese Trade Minister Yoji Muto.
“They held discussions on bilateral cooperation measures and trade issues in response to changes in the global trade environment,” the South Korean ministry said in a statement.
The first meeting of the two countries’ industry ministers is the first since November 2023 and comes as U.S. President Donald Trump’s promised tariffs are expected to impact imports from the two Asian export powers.
Trump has already imposed 20% tariffs on all Chinese imports, saying Beijing has failed to stem the flow of precursors for the addictive opioid fentanyl.
South Korea is bracing for duties that could hit its major exports to the United States, including semiconductors and electric vehicle batteries. Ahn has said a 25% tariff on autos unveiled this week by Trump was expected to create “considerable difficulties” for South Korean automakers.
(Reporting by Jack Kim; Editing by William Mallard)
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