Finance chiefs of Japan and Australia establish dialogue for economic security

What happened: Japan and Australia set up a finance ministry level dialogue on economic security. Finance Minister Satsuki Katayama and Australian Treasurer Jim Chalmers signed a memorandum of understanding in Tokyo on Monday. Key numbers: The two sides plan to meet annually. Why it matters: The framework covers supply chains, energy security and critical minerals, areas where both nations face pressure from China's rare earth export controls. Australia is a major LNG supplier to Japan, and Japan has cultivated ties with Lynas Rare Earths.

Japan and Australia set up a finance ministry level dialogue on economic security. Finance Minister Satsuki Katayama and Australian Treasurer Jim Chalmers signed a memorandum of understanding in Tokyo on Monday.

The framework covers supply chains, energy security and critical minerals, areas where both nations face pressure from China's rare earth export controls. Australia is a major LNG supplier to Japan, and Japan has cultivated ties with Lynas Rare Earths.