South Korea-Japan Trade Row: Latest Developments - Forex News by FX Leaders
Trade in Focus

South Korea-Japan Trade Row: Latest Developments

Posted Monday, August 12, 2019 by
Arslan Butt • 1 min read

In a retaliatory move early on Monday, South Korea announced its intention to remove Japan from its trade whitelist as the latest move in the trade row between the two countries rages on for over a month. About a week ago, Japan had deleted South Korea from its trade whitelist.

Removal from a trade whitelist will cause delays for both nations when applying for trade permits to export to each other’s markets. In addition, according to South Korean Industry Minister Sung Yun-mo, Japan will be added to a new restrictive trade list among countries whose export control systems are in keeping with international export control principles.

Japan is the first country to be added to such a list on account of its inappropriate trade practices, confirmed a South Korean trade official. In addition, South Korea has also retaliated to Japan curbing exports of key raw materials by announcing investments worth nearly $6.5 billion in R&D to increase use of local materials and reduce dependence on Japan for them.

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies

About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
Related Articles
Comments
0 0 vote
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments