The major 7 countries (G7) trade ministers' meeting held in Osaka and Sakai adopted a joint statement expressing concern over the spread of 'economic coercion,' which involves pressuring other countries through unfair trade restrictions, and concluded the meeting, Japanese Kyodo News reported on the 29th.
According to the report, G7 trade ministers' meeting chair and Japanese Minister of Economy, Trade and Industry Yasutoshi Nishimura stated at a press conference after the closing, "(The G7) agreed to unite and respond to economic coercion."
In this joint statement, the G7 decided to build resilient supply chains with trusted partner countries both within and outside the G7 for critical materials such as semiconductors and batteries. The G7 also expressed concern over recent export control measures on critical minerals. This appears to be in reference to China’s recent decision to include graphite, a key material for batteries, under export controls.
The G7 also demanded the immediate removal of import restrictions imposed by China and Russia on Japanese seafood products following the ocean discharge of contaminated water (referred to as treated water by the Japanese government) from the Fukushima Daiichi Nuclear Power Plant.
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