Current:Home > ScamsG-7 nations back strong supply chains for energy and food despite global tensions -Edge Finance Strategies
G-7 nations back strong supply chains for energy and food despite global tensions
View
Date:2025-04-16 08:12:28
TOKYO (AP) — Trade and economy officials from the Group of Seven wealthy democracies strengthened their pledge Sunday to work together to ensure smooth supply chains for essentials like energy and food despite global uncertainties.
The nations promised to maintain “a free and fair trading system based on the rule of law and enhancing economic resilience and economic security,” officials said in a joint statement.
Foreign Minister Yoko Kamikawa, who co-hosted the two-day event in the western city of Osaka, pointed to Russia’s invasion of Ukraine and the Israel-Hamas war as the latest threats to stable energy and food supplies.
“We nations that share important values have a position of responsibility amid growing uncertainties,” she said in closing the meeting, stressing democracy, inclusiveness and human rights.
Worries are growing among developed nations about maintaining a stable supply of computer chips as well as essential minerals, like lithium, which are critical these days amid the demand for electric vehicles and other green energy.
The G-7 includes the U.S., Canada, France, Germany, Italy, Japan and Britain. The European Union, Australia, Chile, India, Indonesia and Kenya were invited to take part in the two-day meeting, as were economic organizations such as the World Trade Organization.
The G-7 nations reiterated their criticism of what they called in their joint statement “Russia’s brutal, unprovoked, unjustifiable and illegal war of aggression against Ukraine.”
The participants discussed how trade policy can contribute to tackling climate change, strengthening food security, promoting digital trade and working toward sustainable development.
Trade is one sector where growing political tensions with China have been playing out, although China was not directly mentioned in the meetings.
China, while absent at the meetings, loomed as a focal point. China has imposed export curbs on two metals used in computer chips and solar cells — gallium and germanium — that it said were intended to “safeguard national security.”
At the G-7 summit in Hiroshima in southwestern Japan earlier this year, participants referred to “economic coercion” in an oblique reference to China’s leveraging some nations’ dependence for economic items. That phrase was again used at the Osaka G-7.
As the host nation, Japan focused on how China has banned imports of Japanese seafood after the recent massive release of treated wastewater from the Fukushima nuclear plant, which experienced reactor meltdowns in 2011.
Yasutoshi Nishimura, the Japanese minister in charge of trade and the economy, said G-7 nations expressed support and understanding for Japan’s position, stressing the safety of Japanese food based on scientific evidence, including that from Fukushima. Japan will continue to press for the food bans to end, he told reporters.
Nishimura also said the guest nations that took part in the G-7 meeting, including Australia and India, were potentially powerful allies in strengthening the supply chain in valuable materials.
Bilateral agreements on the sidelines included one between Britain and Japan to work together on mineral-supply chains that both sides said were essential to achieve clean energy and effective national defense.
Japan also reached a deal with the EU on digital data exchanges, affirming a commitment to work together on standards to facilitate digital-sector trade, including online exchanges.
Kamikawa also met with U.S. Trade Representative Katherine Tai and reaffirmed bilateral ties in support of “the free and fair economic order,” and traded notes about the importance of women playing bigger roles on the G-7 stage.
___
Yuri Kageyama is on X, formerly Twitter: https://twitter.com/yurikageyama
veryGood! (9539)
Related
- Federal hiring is about to get the Trump treatment
- Louisiana mom arrested for making false kidnapping report after 'disagreement' with son
- Vegas Sphere reports revenue decline despite hosting UFC 306, Eagles residency
- Louisiana asks court to block part of ruling against Ten Commandments in classrooms
- Who's hosting 'Saturday Night Live' tonight? Musical guest, how to watch Dec. 14 episode
- Volunteer firefighter accused of setting brush fire on Long Island
- Kathy Bates likes 'not having breasts' after her cancer battle: 'They were like 10 pounds'
- Louisiana asks court to block part of ruling against Ten Commandments in classrooms
- Could Bill Belichick, Robert Kraft reunite? Maybe in Pro Football Hall of Fame's 2026 class
- Lady Gaga Joins Wednesday Season 2 With Jenna Ortega, So Prepare to Have a Monster Ball
Ranking
- Could your smelly farts help science?
- Mark Zuckerberg Records NSFW Song Get Low for Priscilla Chan on Anniversary
- Amazon Best Books of 2024 revealed: Top 10 span genres but all 'make you feel deeply'
- What do nails have to say about your health? Experts answer your FAQs.
- Finally, good retirement news! Southwest pilots' plan is a bright spot, experts say
- Record-setting dry conditions threaten more US wildfires, drinking water supplies
- The results are in: Peanut the Squirrel did not have rabies, county official says
- 'This dude is cool': 'Cross' star Aldis Hodge brings realism to literary detective
Recommendation
North Carolina trustees approve Bill Belichick’s deal ahead of introductory news conference
Review: 'Emilia Pérez' is the most wildly original film you'll see in 2024
Does the NFL have a special teams bias when hiring head coaches? History indicates it does
Disease could kill most of the ‘ohi‘a forests on Hawaii’s Big Island within 20 years
North Carolina justices rule for restaurants in COVID
Where is 'College GameDay' for Week 12? Location, what to know for ESPN show
Does the NFL have a special teams bias when hiring head coaches? History indicates it does
Mike Tomlin's widely questioned QB switch to Russell Wilson has quieted Steelers' critics