China, Japan, and South Korea have reportedly agreed to coordinate their response to US tariffs, Reuters reported.
According to Yuyuan Tantian, a Weibo account linked to China Central Television, Japan and South Korea are looking to import semiconductor raw materials from China, while China is interested in purchasing chip products from Japan and South Korea.
The three countries also agreed to strengthen supply chain cooperation and increase dialogue on export controls, the post claimed.
However, a spokesperson for South Korea’s trade ministry downplayed the report, stating that “the suggestion of a joint response to US tariffs appears to have been somewhat exaggerated” and referred to the official joint statement instead.
Japan’s Trade Minister Yoji Muto also refuted claims of such discussions.
At a press conference on Tuesday, he clarified that the recent meeting of trade ministers was merely an exchange of views.
Following Sunday’s meeting, the countries issued a joint statement confirming their commitment to accelerating negotiations on a trilateral free trade agreement to boost regional and global trade.
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