TOKYO — Trade ministers from the Group of Seven (G7) industrialized nations have agreed to fortify supply chains of key minerals, semiconductors, and batteries with trusted partners. The agreement came after two days of talks in Osaka Prefecture, Japan.
According to a new release by Qatar News Agency, the ministers expressed disturbance over the increasing recurrence of coercive economic measures, an issue frequently linked to China. They noted concern over recent export control measures on critical minerals, referring indirectly to China’s announcement to impose export controls on graphite starting December 1. The ministers also called for the immediate repeal of trade restrictions, including recent import bans on Japanese seafood products, which were introduced following the release of treated radioactive water from the Fukushima nuclear plant into the sea since August.
Japan’s Economy, Trade and Industry Minister Yasutoshi Nishimura announced at a press conference that the G7 nations had broadly expressed support for Japan’s call to lift these import restrictions, citing a lack of evidence to prove that Japan’s seafood is unsafe. The information was corroborated by Kyodo News Agency.
The meeting in Osaka was the second conference of G7 trade ministers this year, following an online conference in April. The G7 consists of the UK, Canada, France, Germany, Italy, and the US, in addition to Japan, which holds the rotating presidency this year.