Current:Home > ScamsG-7 nations back strong supply chains for energy and food despite global tensions -FutureFinance
G-7 nations back strong supply chains for energy and food despite global tensions
View
Date:2025-04-28 10:14:20
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! (41)
Related
- Most popular books of the week: See what topped USA TODAY's bestselling books list
- TikToker Nara Smith Addresses Accusation She’s Using Ozempic
- College Football Playoff ranking release schedule: Dates, times for 2024 season
- 'Ketamine Queen,' doctors, director: A look at the 5 charged in Matthew Perry's death
- Romantasy reigns on spicy BookTok: Recommendations from the internet’s favorite genre
- Federal subpoenas issued in probe of New York Mayor Eric Adams’ 2021 campaign
- Watch mom freeze in shock when airman son surprises her after two years apart
- Thousands of Disaster Survivors Urge the Department of Justice to Investigate Fossil Fuel Companies for Climate Crimes
- 2025 'Doomsday Clock': This is how close we are to self
- Luke Goodwin, YouTuber Who Battled Rare Cancer, Dead at 35
Ranking
- Bill Belichick's salary at North Carolina: School releases football coach's contract details
- Shine Bright With Blue Nile’s 25th Anniversary Sale— Best Savings of the Year on the Most Popular Styles
- Dennis Quaid talks political correctness in Hollywood: 'Warned to keep your mouth shut'
- Michael Brown’s death transformed a nation and sparked a decade of American reckoning on race
- Buckingham Palace staff under investigation for 'bar brawl'
- Ex-University of Florida president gave former Senate staffers large raises, report finds
- Taylor Swift's BFF Abigail Anderson Gives Birth, Welcomes First Baby With Charles Berard
- Eugene Levy, Dan Levy set to co-host Primetime Emmy Awards as first father-son duo
Recommendation
NFL Week 15 picks straight up and against spread: Bills, Lions put No. 1 seed hopes on line
New Jersey governor’s former chief of staff to replace Menendez, but only until November election
Auburn coach Hugh Freeze should stop worrying about Nick Saban and focus on catching Kirby Smart
Colorado man charged with strangling teen who was goofing around at In-N-Out Burger
Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
Alabama election officials make voter registration inactive for thousands of potential noncitizens
What is vitamin B6 good for? Health experts weigh in on whether you need a supplement.
Silk non-dairy milk recalled in Canada amid listeria outbreak: Deaths increased to three