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G7 trade ministers start 2-day meeting in Osaka NHK

Trade ministers from the Group of Seven nations have started a two-day meeting in the western Japanese city of Osaka to discuss how to address economic coercion amid China's growing influence.

Japan's Foreign Minister Kamikawa Yoko and Economy, Trade and Industry Minister Nishimura Yasutoshi are participating in the meeting that got underway on Saturday.

Among the top issues to be discussed are economic coercion, which is used to put pressure on trading partners by restricting trade or raising tariffs.

Kamikawa said economic coercion is the greatest issue facing the multilateral trading system, and that such strategic challenges must be addressed by the international community in partnership.

Nishimura said G7 member nations want to demonstrate that they are seeking to deepen ties with countries that share fundamental values such as not weaponizing economic dependencies.

Trade ministers from five non-G7 nations, including India and Australia, as well as representatives of international organizations took part in a separate meeting. It was aimed at confirming cooperation for strengthening supply chains of semiconductors as well as lithium and other critical minerals that are becoming increasingly vital for economic security.

Japan plans to express concerns over China's suspension of imports of Japanese seafood products following the release of treated and diluted water from the Fukushima Daiichi nuclear power plant into the ocean.

Tokyo plans to call for a united response by other G7 countries for the lifting of the suspension.
Summary
G7 trade ministers meet in Osaka to discuss economic coercion and China's influence. Key topics include addressing economic pressure tactics, deepening ties with values-aligned countries, and strengthening supply chains for critical minerals. Japan intends to voice concerns over China's seafood
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ID: 91dc596c-8bcb-469d-b1fb-092861976dee

Category ID: nhk

URL: https://www3.nhk.or.jp/nhkworld/en/news/20231028_17/

Date: Oct. 28, 2023

Created: 2023/10/29 12:34

Updated: 2025/12/08 22:05

Last Read: 2023/10/29 14:01