U.s. Urges Japan South Korea To Look At `standstill Agreement` For Trade

Washington is also concerned that Japan will push through its threat to remove South Korea from its so-called white list of countries with minimal restrictions on trade in high-tech materials, the official said. WASHINGTON, July 30 (Yonhap) — The United States has asked South Korea and Japan to consider signing a „status quo agreement” to have time to negotiate a growing trade dispute between Seoul and Tokyo, Reuters reported on Tuesday. According to a person familiar with the matter, Yoo even asked his U.S. counterparts to include the issue in bilateral trade negotiations with Tokyo. These negotiations between U.S. Trade Representative Robert Lighthizer and Economic Recovery Minister Toshimitsu Motegi are expected to resume at the ministerial level at the end of this week. Japan could decide as early as Friday to remove South Korea from a „white list” of countries with minimal trade restrictions, said the official, who spoke on condition of anonymity. They argue that a new trade war in Asia — in addition to the conflict between the U.S. and China — could only further hamper the global supply chain and disrupt production of the advanced semiconductors and displays that U.S. companies rely on to make their smartphones and tablets. A senior U.S.

official told reporters Tuesday that the U.S. was urging South Korea and Japan to reach a „status quo agreement” to give the parties more time to continue negotiations. .