SEOUL (Kyodo) -- The trade ministers of Japan, China and South Korea agreed on Sunday to promote a free and fair trade and investment environment at their meeting in Seoul, amid escalating global economic tensions sparked by U.S. tariffs.

Japanese Economy, Trade and Industry Minister Yoji Muto, Chinese Commerce Minister Wang Wentao and South Korea's Trade, Industry and Energy Minister Ahn Duk Geun met as U.S. President Donald Trump's trade policy raises concerns over protectionism.

The three ministers said in a joint statement that they agreed to enhance efforts to realize "a global level playing field to foster a free, open, fair, nondiscriminatory, transparent, inclusive and predictable trade and investment environment."

The three Asian economies, which account for about 25 percent of the world's gross domestic product and 21 percent of its trade by value, affirmed the need for closer economic and trade cooperation.

Trump's tariffs quickly prompted retaliation from China and Canada, while Japan and South Korea are also concerned over the impact of his recently announced imposts on imported vehicles.

Since this year marks the 60th anniversary of diplomatic normalization between Japan and South Korea, the two countries hope to enhance their economic ties.

Japan has been working with China for the removal of its blanket ban on Japanese seafood imports imposed after the release of treated radioactive water from the crippled Fukushima nuclear power plant.