Japan, U.S. Leaders Agree to Beef Up Economic Security Cooperation

Politics

Washington, Jan. 13 (Jiji Press)--Japanese Prime Minister Fumio Kishida and U.S. President Joe Biden agreed Friday to beef up cooperation between the two countries in the field of economic security.

"We will condemn all who use their economic power to take advantage of others," the two leaders said in a joint statement adopted at their meeting in Washington, apparently with in mind China and Russia, which are pressuring trading partners.

The statement suggested that Japan and the United States will play a leading role in reorganizing the international supply chains for important goods such as semiconductors and energy.

Japan and the United States have set the fight against economic coercion as a major agenda item for the Group of Seven leading democracies and the Asia-Pacific Economic Cooperation forum. Tokyo and Washington hold the presidency of the G-7 and the APEC forum, respectively, this year.

The statement said that Japan and the United States uphold a free, fair and rules-based economic order, adding that the two countries "will build resilience in our societies and supply chains among like-minded partners" against threats such as economic coercion and nonmarket policies and practices.

[Copyright The Jiji Press, Ltd.]

Jiji Press