China, Japan, South Korea will jointly respond to US tariffs, Chinese state media says

China, Japan and South Korea agreed to jointly respond to U.S. tariffs, a social media account affiliated with Chinese state broadcaster CCTV said on Monday, an assertion that Seoul called "somewhat exaggerated."

The state media comments came after the three countries held their first economic dialogue in five years on Sunday, seeking to facilitate regional trade as the Asian export powers brace against U.S. President Donald Trump's tariffs.

Japan and South Korea are seeking to import semiconductor raw materials from China, and China is also interested in purchasing chip products from Japan and South  Korea, the account, Yuyuan Tantian, said in a post on Weibo.

All three sides agreed to strengthen supply chain cooperation and engage in more dialogue on export controls, the post said.

When asked about the report, a spokesperson for South Korea's trade ministry said "the suggestion that there was a joint response to U.S. tariffs appears to have been somewhat exaggerated," and referred to the text of the countries' joint statement.

During Sunday's meeting, the countries' trade ministers agreed to speed up talks on a South Korea-Japan-China free trade agreement deal to promote "regional and global trade", according to a statement released after the meeting.

"The three countries exchanged views on the global trade environment, and as you can see in the joint statement, they shared their understanding of the need to continue economic and trade cooperation," the South Korean trade ministry spokesperson said.

Japan's foreign ministry did not immediately respond to a request for comment.

The countries' trade ministers met ahead of Trump's planned announcement on Wednesday of more tariffs in what he calls "liberation day", as he upends Washington's trading partnerships.

Reuters