South Korea announced on Monday that it will officially drop Japan as a preferred trading partner, ten days after Japan said it will do the same.
Japan and South Korea are in the middle of their own trade war, which has dramatically ramped up over the past month. South Korea's government on Monday announced that it will officially drop Japan from its list of preferred trading partners, and that it is placing Japan in a newly-created category of downgraded countries. As part of the new category, South Korean exporters of"strategic" goods will have to submit more paperwork and wait for longer before they can sell to Japan.
Japan and South Korea are in the middle of their own trade war, which has dramatically ramped up over the past month. South Korea's government on Monday announced that it will officially drop Japan from its list of preferred trading partners, and that it is placing Japan in a newly-created category of downgraded countries. As part of the new category, South Korean exporters of"strategic" goods will have to submit more paperwork and wait for longer before they can sell to Japan.
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