TOKYO (Reuters) – The trade ministers of the Group of Seven (G7) countries held their first meeting of the year via teleconference on Tuesday to discuss export controls and economic security.
“We reaffirm that export controls are a fundamental policy tool to address the challenges posed by the diversion of technology critical to military applications as well as for other activities that threaten global, regional, and national security,” a statement released after the meeting said.
The meeting took place days after Japan said it will restrict exports of certain semiconductor manufacturing equipment, aligning its trade controls with U.S. chipmaking technology restrictions aimed at slowing China’s technological and military advances.
The G7 countries said they would further their outreach to non-G7 partners to enhance supply chain resiliency and voiced concern over economic coercion “that interferes with legitimate choices of another government”, without naming specific countries.
The trade ministers of the G7, which comprises the U.S., Japan, Germany, Britain, France, Italy and Canada, will meet in Japan in October.
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