Current:Home > reviewsG-7 nations back strong supply chains for energy and food despite global tensions -Elevate Capital Network
G-7 nations back strong supply chains for energy and food despite global tensions
View
Date:2025-04-16 02:30:27
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! (545)
Related
- A Georgia governor’s latest work after politics: a children’s book on his cats ‘Veto’ and ‘Bill’
- 8 injured after shooting at 'pop-up' party in Methuen, Massachusetts
- Democrat-controlled Vermont Legislature attempts to override Republican governor’s vetoes
- Select list of winners at the 2024 Tony Awards
- Judge says Mexican ex-official tried to bribe inmates in a bid for new US drug trial
- University of Michigan didn’t assess if Israel-Hamas war protests made environment hostile, feds say
- Emhoff will speak at groundbreaking of the memorial for the Pittsburgh synagogue shooting victims
- AI experimentation is high risk, high reward for low-profile political campaigns
- Trump wants to turn the clock on daylight saving time
- Angelina Jolie and Daughter Vivienne Shut Down the Red Carpet at the 2024 Tony Awards
Ranking
- FBI: California woman brought sword, whip and other weapons into Capitol during Jan. 6 riot
- Police: 5 shot during event in Cincinnati park; all injuries considered non-life-threatening
- Extreme heat is getting worse. Can we learn to live with it? | The Excerpt
- Score 70% Off Aerie, an Extra 25% Off Tory Burch Sale Styles, 70% Off Wayfair & More
- 'Kraven the Hunter' spoilers! Let's dig into that twisty ending, supervillain reveal
- Eriksen scores in Denmark’s 1-1 draw with Slovenia at Euro 2024, 3 years after his onfield collapse
- George Strait breaks record for largest ticketed concert in US with nearly 111K in attendance
- Longtime Southern Baptist leader Paul Pressler, who was accused of sexual abuse, dies at 94
Recommendation
Olympic men's basketball bracket: Results of the 5x5 tournament
Serena Williams expresses support for Caitlin Clark: 'Continue doing what's she doing'
Juneteenth Hack brings Black artists together with augmented-reality tech
Mega Millions winning numbers for June 14 drawing: Jackpot climbs to $61 million
Daughter of Utah death row inmate navigates complicated dance of grief and healing before execution
An emotional win for theaters, Hollywood: ‘Inside Out 2’ scores massive $155 million opening
The Best Hotels & Resorts Near Walt Disney World for a Fairy-Tale Vacation
Police: 5 shot during event in Cincinnati park; all injuries considered non-life-threatening