Current:Home > FinanceG-7 nations back strong supply chains for energy and food despite global tensions -WealthMap Solutions
G-7 nations back strong supply chains for energy and food despite global tensions
View
Date:2025-04-16 06:40:53
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! (1)
Related
- Cincinnati Bengals quarterback Joe Burrow owns a $3 million Batmobile Tumbler
- Man charged with threatening FBI agent who had been involved in Hunter Biden laptop investigation
- Man drowns while trying to swim across river with daughter on his back
- Mama June admits she took daughter Alana's money from Honey Boo Boo fame
- Are Instagram, Facebook and WhatsApp down? Meta says most issues resolved after outages
- Citing toxins in garlic, group says EPA should have warned about chemicals near Ohio derailment
- Man who died at 110 was 'always inquisitive.' Now scientists will study his brain.
- Jennifer Lopez and Jennifer Garner Attend Samuel's Graduation Party at Ben Affleck's Home
- Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
- Taylor Swift fans shake ground miles away during Eras Tour concert in Edinburgh, Scotland
Ranking
- Nearly 400 USAID contract employees laid off in wake of Trump's 'stop work' order
- Gayle King wears 'Oprah is fine' T-shirt after BFF's stomach virus hospitalization
- Proof Golden Bachelorette's Joan Vassos Is One Step Closer to Starting Her Rosy Journey
- Criticism of Luka Doncic mounting with each Mavericks loss in NBA Finals
- Newly elected West Virginia lawmaker arrested and accused of making terroristic threats
- 2 dead in single-engine plane crash in Northern California
- New Hampshire remains New England’s lone holdout against legalizing recreational marijuana
- Rihanna Shares Struggles With Postpartum Hair Loss
Recommendation
North Carolina trustees approve Bill Belichick’s deal ahead of introductory news conference
Powerball winning numbers for June 12: Jackpot rises to $34 million after winner
France's Macron puts voting reform bid that sparked deadly unrest in New Caledonia territory on hold
Abortion pill access is unchanged after the Supreme Court’s decision. Here’s what you need to know
Tom Holland's New Venture Revealed
Southern Baptists call for restrictions on IVF, a hot election year topic
US submarine pulls into Guantanamo Bay a day after Russian warships arrive in Cuba
Jan. 6 offenders have paid only a fraction of restitution owed for damage to U.S. Capitol during riot