The Group of Seven (G7) industrial powers have called for the immediate repeal of import restrictions on Japanese food products, in reference to China’s curbs following the release of wastewater from the Fukushima nuclear power plant. Although the G7 statement did not specifically mention China, it denounced what it views as China’s increasing economic coercion through trade. China imposed a blanket suspension on Japanese fish imports when Japan started releasing treated radioactive water from the Fukushima plant into the Pacific. The G7 also expressed concern about recent control measures on the export of critical minerals, particularly China’s export curbs on graphite, which is used in electric vehicle batteries.
In addition to addressing trade restrictions, the G7 ministers discussed their concerns regarding non-market policies and trade-distortive industrial subsidies. They specifically highlighted forced technology transfer and the need to reduce dependence on a single country for critical resources. The ministers also condemned Russia for its destruction of Ukrainian grain export infrastructure during its invasion of Ukraine and its decision to unilaterally leave talks on an agreement that allowed grain giant Ukraine to export wheat and other products through the Black Sea. Notably, unlike the G7 finance ministers’ meeting two weeks prior, the trade ministers did not mention the Middle East crisis and focused instead on the challenges of moving humanitarian goods across borders during natural disasters and emergencies.
This statement from the G7 trade ministers sends a strong message to China regarding its import restrictions on Japanese fish and export curbs on critical minerals. The G7 members believe that such actions amount to economic coercion and are an unfair use of trade as a tool. They emphasize the importance of building free, fair, and mutually beneficial economic relationships. Furthermore, the G7 ministers express concerns about non-market policies, such as forced technology transfer and trade-distortive subsidies, which they see as threats to fair competition and global trade. The ministers also address Russia’s actions in Ukraine, condemning its destruction of grain export infrastructure and decision to withdraw from talks that facilitated Ukrainian wheat exports. Overall, the G7 trade ministers aim to address challenges in the global trading system and promote resilient and reliable supply chains for critical resources.
