Seoul: The Chinese ambassador in Seoul has urged South Korean firms to increase their investment in China as U.S. President Donald Trump's comprehensive tariffs on American imports continue to create global economic uncertainty. Ambassador Dai Bing emphasized the potential benefits for South Korean companies during his remarks at a forum focused on bilateral economic cooperation.
According to Yonhap News Agency, Dai Bing highlighted China's economic resilience and its openness to international collaboration, suggesting that these factors present significant opportunities for foreign businesses. He encouraged South Korean companies to strengthen their presence in China, stating that doing so would allow them to operate globally with greater confidence. He warned that losing the Chinese market could hinder their ability to strategize on a global scale. His comments were shared on X in both Korean and Chinese languages.
The backdrop of these discussions is President Trump's implementation of "reciprocal" tariffs aimed at reducing the U.S. trade deficit, attracting more foreign investments, and bolstering domestic manufacturing. These tariff measures have been temporarily paused until July 8. Dai previously noted in an X post that China's determined countermeasures against the U.S. tariffs contributed to a 90-day suspension of the levies.