Economic Security
Japan's Takaichi pledges deeper ties with Vietnam on energy and minerals
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Japanese Prime Minister Sanae Takaichi pledged on Saturday to deepen ties with Vietnam, focusing on energy and critical minerals in talks with Prime Minister Le Minh Hung. The leaders discussed advancing their Comprehensive Strategic Partnership established in 2023. Takaichi later urged Southeast Asian nations to strengthen regional supply chains.
Two Japanese nationals have been detained in China on allegations of smuggling rare-earth related products that are subject to export restrictions.
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With naphtha-made products still in short supply, Prime Minister Sanae Takaichi's government faces questions over using two laws to punish hoarders.
Japan's government is hosting the inaugural Tokyo Economic Security Forum on December 15 in Tokyo. Amid global uncertainties from the US-China trade war and high tariffs under the Trump administration, experts from around the world will discuss securing strategic materials and protecting supply chains. The importance of public-private collaboration is highlighted.
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The Japan Fair Trade Commission plans to approve mergers and acquisitions among domestic shipbuilders and joint procurement of critical raw materials to strengthen economic security. With China in mind, it will also permit information sharing among companies receiving overseas acquisition proposals. The move aims to boost Japanese firms' international competitiveness and prevent technology leaks.