Hours before his summit with Yoon, Trudeau delivered a speech to South Korean lawmakers at Seoul’s National Assembly, where he made similar comments on security and economic cooperation and responding to the North Korean threat. “But we need to know where we are going to be competing with China on economic grounds and where we need to challenge China, on human rights and other issues.” “We recognize, both of us, that China is an important economic partner, not just in the region but around the world,” Trudeau said. There are also concerns about how an intensifying U.S.-China rivalry over trade and technology and a fragmentation of global supply chains could hurt South Korea's export-dependent economy. Security Council to tighten sanctions on North Korea after it ramped up missile tests since the start of 2022. There's frustration in Seoul over how Beijing, along with Moscow, have blocked U.S.-led efforts at the U.N. Trudeau said his meeting with Yoon also included discussions about China, which remains South Korea's largest trade partner but is increasingly diverging with Seoul over security interests. The act, which was signed into law by President Joe Biden last August, has been a source of tension between Washington and Seoul as it excludes South Korean electric vehicles and other models assembled outside of North America from consumer tax credits. dependence on China and other countries for battery supply chains. Inflation Reduction Act, which aims to reduce U.S. South Korea’s Trade Ministry said in a statement a stronger partnership with Canada over minerals would allow the country to better cope with the impact of the U.S. Canada is one of the world’s largest producers of fuel and gas and key minerals like nickel, lithium and cobalt, which are used by South Korean companies to manufacture electric car batteries. Yoon’s government has described the country’s trade relations with Canada as essential for coping with instabilities in global supply chains and energy markets. Yoon said the countries will also expand cooperation in “future industries,” including semiconductors, batteries, artificial intelligence and technologies producing cleaner technologies, including those involving small modular reactors, natural gas and hydrogen. Yoon and Trudeau also said they will work to strengthen supply chain cooperation in clean energy and critical minerals, which they said will promote environment-friendly technologies and make the countries more competitive in global markets for batteries and zero-emission cars. Security Council sanctions against Pyongyang. He said his government will work to enhance Canada’s naval presence and participation in multinational operations to monitor the enforcement of U.N. Trudeau, the first Canadian leader to visit South Korea in nine years, said his government remains committed to working closely with Seoul and other international partners to address the North Korean threat. “North Korean people are the first victims of the terrible regime in North Korea, an example of why autocracy has terrible, terrible impacts on its own people first and foremost, before (it) even destabilizes and puts at risk people in neighboring countries," he said. “We will also be continuing our work to support human rights organizations” focused on advancing North Korean human rights, Trudeau said in a joint news conference with Yoon after their summit.
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