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On July 29 in Washington, DC, the United States and Japan convened the first Economic Policy Consultative Committee (EPCC), also known as the “Economic 2 + 2” meeting.
Secretary of State Blinken, Secretary of Trade Raimondo, Minister of Foreign Affairs Hayashi, and Minister of METI Hagiuda emphasized their conviction that economic security is indispensable for general security, and that diplomacy and economic policy are linked together. They affirmed their shared willingness to present a positive economic vision that emphasizes the benefits of a rules-based international economic order and emphasized the need to make our economies more competitive and resilient.
They also expressed serious concern about, and opposition to, harmful uses of economic influence, including economic coercion as well as unfair and opaque lending practices, in ways that threaten the legitimate interests of sovereign nations, as well as those of ‘ individuals and industries.
