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South Korea, China, Japan seek regional trade amid Trump tariffs

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South Korea, China and Japan held their first economic dialogue in five years on Sunday, seeking to facilitate regional trade as the three Asian export powers brace from U.S. President Donald Trump’s tariffs.

The countries’ three trade ministers agreed to “closely cooperate for a comprehensive and high-level” 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.

“It is necessary to strengthen the implementation of RCEP, in which all three countries have participated, and to create a framework for expanding trade cooperation among the three countries through Korea-China-Japan FTA negotiations,” said South Korean Trade Minister Ahn Duk-geun, referring to the Regional Comprehensive Economic Partnership.

The ministers met ahead of Trump’s announcement on Wednesday of more tariffs in what he calls “liberation day”, as he upends Washington’s trading partnerships.

Seoul, Beijing and Tokyo are major U.S. major trading partners, although they have been at loggerheads among themselves over issues including territorial disputes and Japan’s release of wastewater from the wrecked Fukushima nuclear power plant.

They have not made substantial progress on a trilateral free-trade deal since starting talks in 2012.

RCEP, which went into force in 2022, is a trade framework among 15 Asia-Pacific countries aimed at lowering trade barriers.

Trump announced 25% import tariffs on cars and auto parts last week, a move that may hurt companies, especially Asian automakers, which are among the largest vehicle exporters to the U.S.

After Mexico, South Korea is the world’s largest exporter of vehicles to the United States, followed by Japan, according to data from S&P.
The ministers agreed to hold their next ministerial meeting in Japan.

(Reuters) 

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Norway to give over $9 billion to Ukraine in 2027

Norwegian Prime Minister Jonas Gahr Stoere and ​leaders from across the Nordic and Baltic region ​are visiting Kyiv on Sunday in a show of ⁠support for Ukraine in the war with Russia.

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Norway plans to give another 85 billion Norwegian crowns ($9.2 billion) in financial support ​to Ukraine in the 2027 fiscal year, in ‌line with the amount given in 2026, the Nordic country’s government said in a statement on Sunday.

Norwegian Prime Minister Jonas Gahr Stoere and ​leaders from across the Nordic and Baltic region ​are visiting Kyiv on Sunday in a show of ⁠support for Ukraine in the war with Russia.

Norway plans to give another 85 billion Norwegian crowns ($9.2 billion) in financial support ​to Ukraine in the 2027 fiscal year, in ‌line with the amount given in 2026, the Nordic country’s government said in a statement on Sunday.

Norwegian Prime Minister Jonas Gahr Stoere and ​leaders from across the Nordic and Baltic region ​are visiting Kyiv on Sunday in a show of ⁠support for Ukraine in the war with Russia.

Russia ​and Ukraine ⁠are both ramping up drone campaigns aiming to cripple each other’s economic infrastructure, often striking targets far beyond the frontlines ⁠of ​the war started by Moscow, as ​fighting on the battlefield grinds toward the 4-1/2-year mark.

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Israel strikes southern Syria; Damascus condemns attack

Israeli troops continue to operate in southern Syria, and ⁠Israel occupies ​territory in southwest Syria it ​seized after the toppling of Bashar al-Assad in December 2024.

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Israel said it targeted a “terrorist” in southern Syria on Saturday in what Syria’s foreign ministry ​said was a drone strike on a ‌civilian vehicle on the outskirts of Damascus in a “blatant” violation of its territory.

The Syrian foreign ministry said the drone ​had hit a civilian car on a ​road near Beit Jinn village in the ⁠countryside west of the capital, which caused injuries ​amongst civilians.

Syrian state TV reported one person was injured.

The ​Israeli military said in a statement that it fired in southern Syria toward what it described as a terrorist, ​whose activity posed an immediate threat to its ​soldiers. It did not say how it fired.

Tensions between Israel ‌and ⁠Syria flared up this week after Israel bombed an airbase in the northwest on Tuesday, an escalation U.S. special envoy to Syria, Tom Barrack, called “unnecessary.”

Syria’s foreign ​ministry said ​the strike ⁠was part of a pattern of repeated Israeli attacks on Syrian territory, and ​was a “blatant violation” of its sovereignty. ​It ⁠held Israel accountable for the consequences of such actions.

Israeli troops continue to operate in southern Syria, and ⁠Israel occupies ​territory in southwest Syria it ​seized after the toppling of Bashar al-Assad in December 2024.

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Trump says Iran ‘Not Ready’ for the right deal as war nears six-month mark

The continuing US-Israeli strikes on Iran, along with Israeli attacks on Lebanon, have reportedly killed thousands of people and displaced millions across the region.

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US President Donald Trump has said he does not believe Iran is ready to make what he described as the “right deal,” as the war between Tehran and Washington approaches its six-month mark, Reuters reported.

Speaking to reporters on Friday, Trump said the United States was continuing to assess developments in the conflict when asked whether Washington’s military options against Iran had become limited.

“It just means that we’re seeing what happens,” Trump said.

Trump also claimed that the United States had “total control” over the region surrounding the Strait of Hormuz, a strategically vital waterway that previously carried around one-fifth of global oil and liquefied natural gas supplies before the US and Israel launched attacks on Iran on February 28.

“They would love to make a deal, but they’re not ready to make the right deal, in my opinion,” Trump said.

The remarks come after Washington pledged this week to impose what it described as the toughest financial penalties in history against Iran, with the stated aim of increasing pressure on the country’s leadership, read the report.

US Treasury Secretary Scott Bessent said further details of the planned sanctions would be announced on Monday, following Trump’s warning that any country providing “any type of lifeline” to Iran could face serious economic consequences.

Meanwhile, disruptions to energy shipments through the Strait of Hormuz have continued as Iran retains missile and drone capabilities that have affected oil tanker traffic in the waterway.

Iran responded to the initial attacks on February 28 with strikes on Israel and Gulf states hosting US military bases.

The continuing US-Israeli strikes on Iran, along with Israeli attacks on Lebanon, have reportedly killed thousands of people and displaced millions across the region.

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