Japanese Prime Minister Fumio Kishida has announced a $141 million emergency fund to help exporters hit by a ban on Japanese seafood imposed by China in response to the release of treated radioactive wastewater from the damaged Fukushima nuclear power plant.
The money will be used to find new markets for Japanese seafood to replace China and fund government purchases of seafood for temporary freezing and storage. The government will also seek to expand domestic seafood consumption.
Kishida heads to Indonesia on Tuesday to attend the annual summit of the Association of Southeast Asian Nations, where he may face criticism over the wastewater release from Chinese Premier Li Qian, who is also attending. All seawater and fish samples taken since the release of the treated wastewater began have been way below set safety limits for radioactivity, Japanese officials and the plant operator say.
Seafood exports are a fraction of Japan’s total exports, and the ban’s impact on overall trade will be limited unless tensions escalate and China widens its restrictions to other trade sectors, said Takahide Kiuchi, executive economist at Nomura Research Institute.
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