Ministry of Economy, Trade and Industry

The Ministry of Economy, Trade and Industry (METI) is a Japanese government ministry responsible for economic and industrial policy. It aims to promote economic growth, international trade, and energy security for Japan. METI is newsworthy due to its strategic responses to global supply chain vulnerabilities and geopolitical tensions. Recently, METI has been involved in efforts to diversify rare earth supply chains, seeking autonomy from both China and the US by collaborating with countries like France and Canada. Furthermore, METI authorized the release of oil from Japan's emergency reserves in response to escalating conflict, a move that highlights Japan's dependence on stable energy supplies and potential vulnerability to economic pressure from China. These actions underscore METI's crucial role in navigating Japan's economic and strategic interests in a complex global landscape.