Japan-South Korea Trade Row: Latest Developments

Is there a possibility of a thaw in the trade dispute between Japan and South Korea? Earlier today, Japanese Trade Minister Sugawara confirmed that both governments are set to hold discussions on the escalating trade dispute that erupted over the issue of compensation for forced wartime labor.

In July, Japan had curbed exports of key raw materials used by South Korean tech companies to manufacture memory chips and smartphone displays. This caused a flare-up in the trade and diplomatic relationship between the two nations, with them removing each other from their trade whitelists, and South Korean consumers calling to boycott Japanese goods.

A few days ago, South Korea had lodged a protest with the WTO against Japan’s decision to curb exports of the key raw materials. According to its trade minister, South Korea is keen on a bilateral consultation to resolve differences. However, if this does not work out, it will request a WTO panel to rule on the dispute.

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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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