BRUSSELS (Kyodo) -- The foreign ministers of Japan, the United States and South Korea on Thursday voiced "serious concerns" over North Korea's nuclear and missile programs as well as its growing military cooperation with Russia, the Japanese Foreign Ministry said.
President Trump's reciprocal tariffs on Japan (24%) and South Korea (25%) were largely in line with market expectations. Both countries will seek to negotiate lower tariffs, rather than retaliate. Yet US tariffs will generally hit Asia harder, adding to downside risks on growth for Tokyo and Seoul
The strength of these alliances depends on whether Trump views Tokyo and Seoul as bulwarks against China’s rise or vassals that can be extorted for financial gain.
The top diplomats from Japan, China and South Korea met in Tokyo on Saturday, seeking common ground on East Asian security and economic issues amid escalating global uncertainty.
Seoul, Beijing and Tokyo are major U.S. trading partners, although they have been at loggerheads among themselves over issues, including territorial disputes.
Stocks in auto export powerhouses Japan and South Korea both plunged Monday in anticipation of stiff new tariffs on Asian goods imported into the U.S. that are set to go into effect Wednesday.
China, Japan, and South Korea agreed to a joint response to US tariffs after their first economic dialogue in five years. They plan to strengthen supply chains, cooperate on export controls, and pursue a free trade agreement.