Japan, China warn against perils of trade war

China's foreign minister Wang Yi (left) and Japan's foreign minister Taro Kono pose during a photo session ahead of a high-level Japan-China economic dialogue in Tokyo, on April 16, 2018.
China's foreign minister Wang Yi (left) and Japan's foreign minister Taro Kono pose during a photo session ahead of a high-level Japan-China economic dialogue in Tokyo, on April 16, 2018. PHOTO: REUTERS

Japan and China agree that a trade war will have serious consequences for the world economy, Japanese Foreign Minister Taro Kono said yesterday after a high-level economic dialogue between the world's third-and second-largest economies.

Mr Kono and the Chinese government's top diplomat, State Councillor Wang Yi, co-chaired the Tokyo meeting, their first high-level economic dialogue since 2010.

Concern is growing over a trade row between China and the United States as the two nations have threatened each other with tariffs, while Japan has been criticised by US President Donald Trump on trade and been hit with tariffs on steel and aluminium.

Mr Kono also said Japan will work with China on its ambitious Belt and Road Initiative on a project-by-project basis, referring to China's ambitious plan for trade routes linking Asia, Europe and Africa.

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A version of this article appeared in the print edition of The Straits Times on April 17, 2018, with the headline 'Japan, China warn against perils of trade war'. Print Edition | Subscribe