The finance ministers of Seoul, Beijing and Tokyo released a joint statement stressing the importance of resisting protectionism. At the trilateral meeting in Manila, they also emphasized the importance of having a trade framework that is "open and rule-based." The statement is seen as a response to the threat of a trade and tariff war between the U.S. and China. Also on Friday, the three sides acknowledged the progress made at the inter-Korean summit, welcomed the Panmunjom Declaration and added they look forward to further development in easing tensions in the region. The ministers also agreed to cooperate to ensure the upcoming trilateral summit is a success.
