Senator Rick Scott highlighted China's control over US supply chains, particularly in pharmaceuticals, during a Senate hearing. He warned of the risks to older Americans' health, finances, and security due to this dependence.
G7 leaders agreed to boost cooperation on critical minerals, aiming to reduce dependence on China. Plans include coordinated stockpiling, increased recycling, and a new platform with IEA support to secure supplies for defense, AI, EVs, and renewables.
South Korean President Lee Jae Myung urged enhanced international cooperation to bolster energy supply chain resilience at an expanded G7 summit session in Evian-les-Bains, France. He highlighted vulnerabilities in the Asia-Pacific region and pledged support for the International Energy Agency.
China's stance towards the West has evolved from a nascent rejection in 1996 to possessing significant strategic leverage, evident in its forceful countermeasures against Western claims and sanctions, and a shift in Western leaders visiting Beijing.
Japan's new minister, Sanae Takaichi, will attend a G7 meeting in Europe to discuss urgent issues and demonstrate unity. She aims to express Japan's position and efforts from the Indo-Pacific region's perspective. Takaichi has maintained positive relations with G7 nations and seeks deeper cooperation.
Italy and Japan are strengthening diplomatic ties, focusing on supply chains and technology cooperation. The leaders aim to reduce reliance on China for critical minerals and boost semiconductor manufacturing through joint ventures.
Thailand and Vietnam agreed to nearly double bilateral trade to $25 billion within four years, with plans to double it again later. The deal aims to integrate supply chains in electronics and semiconductors and reduce trade barriers, addressing shared external shocks like the fracturing of the rules-based trading order.
China's ports topped the 2025 Container Port Performance Index, with 7 in the global top 10, amid critical roles in managing supply chain disruptions post-Red Sea crisis and US-Israel war on Iran.
US Special Envoy Sergio Gor met with officials from Kazakhstan, Uzbekistan, Kyrgyzstan, Tajikistan, and Turkmenistan in the first in-person critical minerals dialogue under the C5+1 format. The meeting aims to deepen cooperation on raw material sourcing and investment, with Kazakhstan highlighting its mineral wealth and seeking US partnerships.
An investigation by Global Witness alleges that major brands like Amazon, Ericsson, and Sony may have unknowingly sourced coltan linked to the M23 militia, which controls mines in the DRC and is accused of widespread human rights abuses. The minerals are smuggled to Rwanda and then exported, with traceability systems reportedly failing to detect the conflict sourcing.
The US proposes tariffs (10-12.5%) on countries not adequately addressing forced labour, with rates varying based on enforcement measures; affected governments can challenge inclusion until July 6.
Japan, in cooperation with the World Bank, is accelerating its energy security and supply chain project, posing a challenge to the US's economic and strategic influence in Asia.
Nine US industry trade groups warned the Trump administration that the rapid expansion of AI data centers is consuming a large share of memory chip capacity, driving up prices and straining supplies for other critical industries like automotive and healthcare.
Experts state that a higher price for a T-shirt does not guarantee ethical production, with factors like branding and marketing often inflating costs. While very low prices are a warning sign, some affordable brands offer ethical options.
Japan's Sanae Takaichi plans to visit India to deepen collaboration in defense, economy, and technology, including semiconductors and AI. The high-speed railway project and Japan-China tensions over Taiwan are expected topics.
The US Trade Representative (USTR) proposed additional tariffs of 10-12.5% on imports from India and 53 other economies for failing to effectively prohibit goods linked to forced labor. This complicates ongoing trade talks between the US and India.
Taiwanese President Lai Ching-te stated that maintaining the political status quo is vital for global supply chains, especially for AI development. Nvidia CEO Jensen Huang called Taiwan the 'epicenter of the ecosystem' for chip manufacturing.
India's public sector oil companies have reduced Aviation Turbine Fuel (ATF) prices for international flights by nearly 27%, while increasing commercial LPG cylinder prices by Rs 42. ATF for international airlines now costs $1,103 per kilolitre.
US defense tech firms Anduril and DTC are strengthening partnerships with Taiwanese manufacturers, aiming to establish 'non-red' supply chains and achieve "100% Taiwan-made" equipment. Anduril set a record for fastest military procurement delivery to Taiwan, while DTC seeks to supply components for Taiwan's indigenous 'Sharp Finger System'.
India's Great Nicobar Island project gains strategic attention amid the Hormuz blockade, potentially disrupting Chinese supply chains and alleviating the 'Malacca dilemma'.
Taiwanese lawmakers, led by Kaohsiung mayoral candidate Lai Rui-long, met with Japan's Liberal Democratic Party's Taiwan Policy Review Project Team and Economy, Trade and Industry Committee Chairman Kudo Akira to discuss bilateral security, semiconductor supply chains, AI, and net-zero transition, aiming to deepen cooperation.
Fuel prices in India have increased by Rs 7.5 per litre since the Middle East crisis began, with petrol and diesel seeing a Rs 2.61 and Rs 2.71 hike respectively. This marks the fourth increase in ten days, raising concerns over household budgets, inflation, and transportation costs.
A new report warns UK supply chains are unprepared for major shocks like war with Russia or a fresh pandemic, lagging behind EU states in stockpiling critical medicines and food. Ministers are urged to adopt 'worst-case scenario' planning, considering US "America First" policies.
The Philippines has rejected a US request to place a new industrial hub in New Clark City under US jurisdiction. Officials stated no special arrangements will be made for the US regarding the hub, which is part of the Luzon Economic Corridor project involving the US, Japan, and the Philippines.
