Japan's economic security promotion act, which was enacted in May, got rolling recently as Japan and the United States held their first economic "two-plus-two" dialogue involving their foreign and industry ministers on July 29 in Washington.

The joint statement of the U.S.-Japan Economic Policy Consultative Committee, titled “Strengthening Economic Security and the Rules-Based Order,” said the ministers “intend to collaborate in promoting and protecting critical and emerging technologies in a manner consistent with international rules and norms, including through research and development, as well as export controls, so as to support technological competitiveness and resilience and to address the challenges posed by the illicit diversion of technology critical for weapons development.”

Ideally, the two countries will further strengthen cooperation focusing on “technology critical for weapons development.”