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U.S., Japan business leaders call for limiting export restrictions

Nikkei reported on a two-day online meeting of the Japan-U.S. Business Council on Oct. 27-28, at which business leaders from Japan and the United States issued a joint statement calling on the governments of their nations to limit their export restrictions over security concerns. Mitsubishi-UFJ Financial Groups Chairman Hirano, who co-chaired the meeting, said that a “complete decoupling” of the United States and China would be neither realistic nor useful for the growth of the global economy. Cisco CEO Robbins expressed concern over inward-looking global political trends.

Yomiuri also reported on the meeting. According to the daily, the U.S. and Japanese business leaders issued a joint statement saying it is necessary to diversify supply chains and promote free trade to respond to the COVID-19 pandemic and other crises. The statement also stressed that the trade system based on free and fair rules should be strengthened and that it is necessary for the United States and Japan to work closely with like-minded partners in the Indo-Pacific region and Europe.

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