Japan to Remove South Korea From Trusted Trading Partner List, Report Says
Japan is expected to pass a bill to remove South Korea from its so-called "whitelist" of trusted trading partners as the two countries grow more entrenched in their ongoing trade dispute, according to a July 30 report from The Korea Herald.
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The bill, which would take effect in August, would be viewed as another “economic retaliatory measure” in the trade skirmish, which began July 1 when Japan announced export restrictions on technological products, such as smartphones and chips, to South Korea (see 1907010020). South Korea responded by raising a dispute with the World Trade Organization (see 1907150074).
South Korea said it would “deliver a message” objecting to the move if Japan drops the country from its whitelist, the report said. South Korea also said it is hoping to schedule talks with the U.S. and Japan during the Association of Southeast Asian Nations Regional Forum in Thailand this week, according to the report.