South Korea restores Japan’s preferred trade status, aiding US efforts

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South Korea restores Japan’s preferred trade status, aiding US efforts
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It aligns with Washington’s efforts to create a global supply chain less reliant on China. Read more at straitstimes.com.

SEOUL - South Korea reinstated Japan to its list of preferred trading partners, a major step in mending ties with a long-time rival that also aligns with Washington’s efforts to create a global supply chain less reliant on China.

The relationship worsened in 2019 when Japan removed South Korea from its own preferential list, leading to reciprocal action. During this visit, Mr Yoon is expected to meet with US President Joe Biden to discuss economic cooperation and the development of supply chains less dependent on China for items such as semiconductors.

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