What We're Watching

China, Japan, and South Korea to resume annual trilateral meetings

Chinese Foreign Minister Wang Yi, South Korean Foreign Minister Park Jin, and Japanese Foreign Minister Yoko Kamikawa pose for a photo prior to the 10th trilateral foreign ministers' meeting in Busan, South Korea, Sunday, Nov. 26, 2023.
Chinese Foreign Minister Wang Yi, South Korean Foreign Minister Park Jin, and Japanese Foreign Minister Yoko Kamikawa pose for a photo prior to the 10th trilateral foreign ministers' meeting in Busan, South Korea, Sunday, Nov. 26, 2023.
Ahn Young-joon/Pool via REUTERS

Amid escalating tensions in the South China Sea and faced with the looming Taiwan election, the foreign ministers of China, Japan, and South Korea held their first in-person talks since 2019 on Sunday, in Busan, South Korea, with hopes of paving the way for resumption of formal annual trilateral summits.

The three countries had begun holding annual summits in 2008 but suspended them four years ago during the COVID-19 pandemic. Contentious issues up for discussion at this preliminary meeting included China’s ban on Japanese seafood due to Tokyo’s discharge of treated radioactive wastewater from the Fukushima nuclear power plant, North Korea’s recent spy satellite launch, and Japan and South Korea’s deepening ties with the United States, including their recent move to strengthen their mutual security cooperation.

Next steps: Japan’s Yoko Kamikawa, South Korea’s Park Jin, and China’s Wang Yi agreed to hold a trilateral leaders’ summit at the “earliest” possible time. The three pledged to cooperate in areas of people-to-people exchange, trade, technology, public health, sustainable development, and security, according to South Korean and Japanese statements.

“We three ministers agreed to restore and normalize three-nation cooperation at an early date,” Park Jin told reporters. South Korea had previously indicated that it would like the meeting before year’s end, but with December just around the corner, this may be a tall order.

More For You

Mastercard Economic Institute's Outlook 2026 explores the forces redefining global business. Tariffs, technology, and transformation define an adaptive economy for the year ahead. Expect moderate growth amid easing inflation, evolving fiscal policies, and rapid AI adoption, driving productivity. Digital transformation for SMEs and shifts in trade and consumer behavior will shape strategies worldwide. Stay ahead with insights to help navigate complexity and seize emerging opportunities. Learn more here.

Miami Mayor-elect Eileen Higgins points as she thanks her staff and supporters on the night of the general election, on Tuesday, Nov. 4, 2025.
Carl Juste/Miami Herald/TNS/ABACAPRESS.COM

A Democrat won Miami’s mayoral race for the first time in nearly 30 years. The Republican defeat will ring some alarms for the party – and their support among Latino voters.

Women work in the plastic container assembly area inside the El Oso shoe polish factory, located in Mexico City, Mexico, in its new facilities, after officers from the Secretariat of Citizen Security and staff from the Benito Juarez mayor's office arbitrarily and violently remove their supplies, raw materials, machinery, and work tools on January 17 of this year following a coordinated operation stemming from a private dispute. On August 27, 2025.
Photo by Gerardo Vieyra/NurPhoto

50: Mexico’s President Claudia Sheinbaum is taking a page out of US President Donald Trump’s book, implementing up to a 50% tariff on more than 1,400 products in a bid to boost domestic production.