Japan's Ministry of Finance published remarks following an online G7 Finance Ministers' meeting held under France's new chairmanship, setting out priorities on responding to global imbalances linked to non-market policies and practices, strengthening critical minerals supply chains, and supporting Ukraine. Japan argued that policy responses to non-market policies and practices should be discussed through an economic security lens, and that finance ministries should use tools including taxation, fiscal measures and international finance to develop specific measures to improve critical-minerals resilience, including for rare earths. The minister highlighted a shared G7 emphasis on rapid, concrete coordination, including with trade ministers and energy officials, ahead of a critical-minerals ministerial meeting scheduled for next week, with an expectation of reaching conclusions in April and May. Exchange rates were not on the agenda; Japan reiterated it would not comment on foreign exchange market moves and would take appropriate measures as necessary in close cooperation with US authorities, in line with the Japan-US Treasury Ministers' Joint Statement issued in September. On Ukraine, Japan pointed to its existing commitment via World Bank loans and referenced January discussions at the International Monetary Fund on the second phase of the programme, including consideration of security and labour constraints.

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