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G-7 aims to build chip supply chain together, Nikkei reports

Group of Seven member states will agree to build a supply chain of strategic chip-manufacturing materials together when leaders meet in Japan in May, the Nikkei reported, without saying where it obtained the information.

A joint communique from the Hiroshima, Japan summit will include a goal of safely procuring key materials such as chips and rare-earth elements due to the growing risks posed by Russia’s invasion of Ukraine and political tensions between the US and China, the paper reported. G-7 nations will start work on a draft communique this month, Nikkei said.

The US in October announced new restrictions that required export licenses for certain chipmaking machines, and limited US citizens from working in China and other countries that could pose a threat to national security. Washington wants Japan and the Netherlands, home of many key chip supply chain companies, to carry out similar measures. Bloomberg

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