Japan, UK to hold high-level economic security talks

Japan, UK to hold high-level economic security talks

Both are US allies but are not likely to be exempted from US President Donald Trump’s sweeping levies on major trading partners.

The UK’s foreign secretary David Lammy speaks during a bilateral meeting with Indian external affairs minister Subrahmanyan Jaishankar at Chevening House, in Sevenoaks, UK, on Wednesday. (AP pic)
TOKYO:
China had been expected to loom large at high-level economic security talks between the UK and Japan on Friday, until US tariffs reared their head.

Japan is the world’s fourth largest economy, and the UK the sixth. Both are US allies, but that factor is not likely to exempt them from US President Donald Trump’s sweeping levies on major trading partners.

Joint talks between the countries’ foreign and trade ministers in Tokyo this week have been touted as a chance to promote free trade and strengthen business ties in sectors from tech and defence to renewable energy.

“Economic growth and future prosperity depend upon strong security foundations, a reliable trading system, resilient supply chains, energy security, and an economy resilient to shocks,” the UK foreign office said in a statement on Thursday.

Similar language was previously used by the US and its Group of Seven allies, including Japan and the UK, to indirectly refer to economic coercion by Beijing.

A US Congress committee said in 2023 that China had “effectively weaponised the targeted use of trade restrictions, sanctions, embargoes, and boycotts” to apply pressure against nations that go against its ideals.

Yet now the ministers’ strategic discussions may have a broader scope, after Trump’s sharp 25% tariffs on US imports from Canada and Mexico, with some exemptions, kicked in this week.

The so-called “2+2” talks are now being framed by officials as an attempt to show a clear-headed and responsible way forward, although not directed at any one state.

“In the current global context, any effort to increase coordination and collaboration, especially among key partners like the UK and Japan, is highly welcomed,” said Francesca Ghiretti, research leader in economic security and China at Rand Europe.

“Due to the service-based nature of the UK’s economy and little internal manufacturing, the UK should be more aware of the vulnerabilities of and potential disruptions to global supply chains,” Ghiretti told AFP.

“In that collaboration from Japan will be key,” she said.

Post-Brexit UK is “more vulnerable” in terms of economic security without the collective strength of the European Union but can more easily engage in international frameworks, Ghiretti added.

British foreign secretary David Lammy and business and trade secretary Jonathan Reynolds will be in Japan from Thursday with a business delegation seeking to boost investment and cooperation with Japanese companies.

Lammy and Reynolds are also expected to discuss issues related to the war in Ukraine with their Japanese counterparts Takeshi Iwaya and Yoji Muto.

Japan has provided Kyiv with financial and material support, and sanctioned Russian individuals and organisations, but its pacifist constitution restricts it from exporting weapons.

The UK and Japan, along with Italy, are developing a new fighter jet set to be airborne by 2035, and the trio are reportedly discussing the possibility of Saudi Arabia also participating in the project.

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