Illustration: Xia Qing/GT

Recently, the 13th China-Japan-ROK Trilateral Economic and Trade Ministers' Meeting was held in Seoul. After the meeting, the three countries issued a joint media statement, expressing their continued support for a trade system based on WTO rules and agreeing to discuss accelerating negotiations on the trilateral free trade agreement. This marks a significant development in the evolving geo-economic landscape of Northeast Asia and the global trade order; however, it remains fraught with challenges due to multiple complex factors.

The immediate reason to accelerate negotiations lies in the mounting tariff pressure from the US on all three countries. On April 2, the US government officially announced a "reciprocal tariff" plan, imposing a 34 percent tariff on Chinese imports, 24 percent on Japanese goods and 25 percent on South Korean products. In this context, with the Japanese and South Korean economies already under strain, the free trade agreement negotiations serve as a practical response to the current uncertainty and instability, acting as an economic safeguard for the future.

As the three leading economies in Northeast Asia, China, Japan and South Korea are deeply interconnected economically, offering significant growth potential and making proven contributions to both regional and global economic development. Should a free trade area be successfully established, the economic scale and growth potential of the region would be further magnified, leading to increased contributions to the global economy. 

For instance, trilateral trade could see significant growth. The agreement could foster a deeply integrated industrial ecosystem in various sectors. Moreover, it could help harmonize carbon border adjustment mechanisms and facilitate the creation of a Northeast Asian carbon trading market. It could also pave the way for a broader East Asian economic cooperation network, fundamentally reshaping the economic geography of Northeast Asia and providing a more solid foundation for regional political and security stability.

Despite its vast potential, the trilateral free trade agreement still faces challenges, particularly due to trade barriers and geopolitical tensions. Disagreements persist among the three countries regarding export controls on semiconductors, as well as restrictive measures in the auto and agricultural sectors. In addition, non-regional powers, particularly the US, frequently intervene in Northeast Asian affairs. Japan and South Korea are closely tied to the US politically and economically, which often subjects their cooperation with China to US pressure and obstruction.

To overcome these challenges, China, Japan and South Korea should prioritize resolving the existing differences in economic and trade issues and focus on concluding negotiations in areas where consensus has already been reached, such as goods trade. More flexible mechanisms could be adopted for difficult issues like digital trade and government procurement. They could also collaborate on establishing trilateral free trade pilot zones and launching demonstration projects in key areas, generating bottom-up momentum for reform. 

In terms of geopolitics, they should strengthen communication, deepen multilateral cooperation and emphasize existing consensus to foster a cooperative model that is peaceful, mutually beneficial and future-oriented. They must also work together to minimize disruptions caused by historical issues and interference from extra-regional powers.

In conclusion, the essence of trilateral cooperation among China, Japan and South Korea lies in the pursuit of strategic autonomy in an increasingly complex international environment. The three countries must innovate in institutional design, governance and modes of interstate engagement to resolve the "security-development" paradox. In doing so, they can make trilateral cooperation a cornerstone of peace and stability in East Asia, a driver of global development and prosperity and a new model of regional cooperation for the world to follow.

The author is the executive director and professor at the Trilateral Cooperation Studies Center at Shanghai International Studies University. opinion@globaltimes.com.cn