EU, Japanese Leaders Commit to Open Trade, Limited Export Restrictions

European Union and Japanese leaders issued a May 26 joint statement laying out their commitments to trade cooperation and a reduction of trade barriers during the COVID-19 pandemic. The two sides, speaking during a video teleconference, said they are committed to sustaining the “flow of medical supplies, agricultural products, raw materials and other goods,” adding that any restrictive trade measures should be consistent with World Trade Organization Rules. Both sides also spoke against “unnecessary” export restrictions that may limit trade.