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EU-US Trade and Technology Council: strengthening our renewed partnership in turbulent instances – The European Sting – Essential Information & Insights on European Politics, Financial system, Foreign Affairs, Enterprise & Technology


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This article is delivered to you in affiliation with the European Parliament.


The EU and the US have at the moment reaffirmed their shut cooperation to deal with world commerce and know-how challenges in keeping with their shared dedication to democracy, freedom and human rights. Meeting on the second Ministerial Meeting of the Trade and Technology Council (TTC) in Paris, each events reiterated the central function of the TTC for the renewed transatlantic partnership, which has already served to coordinate joint measures being taken by the EU and the US in face of the Russian aggression in opposition to Ukraine.

Members of the College mentioned:

Margrethe Vestager, Executive Vice-President for a Europe match for the Digital Age and co-chair of the TTC, mentioned: “Russia’s war of aggression against Ukraine has further underlined the key importance of our cooperation with the US on economic and technology issues. This cooperation goes beyond our reaction to the war. Together with our transatlantic partners, we can create a positive vision for our economies and for a democratic governance of the internet based on the dignity and integrity of the individual. When we act together, we can set the standards of tomorrow’s economy. We are joining forces and when two such determined partners take the lead, we can enable the tides to turn.”

Valdis Dombrovskis, Executive Vice-President and Commissioner for Trade and co-chair of the TTC, mentioned:“I am delighted that at this second TTC meeting, we have agreed to expand our cooperation with the US to address new and emerging global trade challenges, working as trusted partners. We will work closely to secure our supply chains and boost global food security. We will build on our unprecedented transatlantic coordination on export controls against Russia to further align our approaches in this critical field, while also boosting trade with Ukraine. We will also cooperate on promoting green trade, for instance through green public procurement.”

Thierry Breton, Commissioner for Internal Market, added: “Transatlantic collaboration on supply chains and digital technologies is crucial to defend our common interests and values. Having successfully worked with the United States on supply chain bottlenecks for vaccine ingredients, I am pleased to see a joint ambition to strengthen supply chain resilience in other areas, from raw materials to semiconductors. The Paris summit is an important moment for the Trade and Technology Council to transform the transatlantic dialogue into concrete results.”

Key outcomes of the 2nd TTC Ministerial Meeting

Support to Ukraine

The TTC’s co-chairs expressed robust shared dedication to supporting Ukraine in opposition to Russian navy aggression and agreed on concrete measures already delivered and to be additional continued throughout the TTC. They additionally dedicated to work collectively with Ukraine to rebuild its financial system and facilitate commerce and funding. 

Information integrity

They agreed to strengthen their cooperation to help data integrity in disaster conditions, initially specializing in a standard analytical framework for figuring out Russia’s data manipulation and interference, which can result in establishing a Cooperation Framework in all disaster conditions.

Trade and Labour Dialogue

The co-chairs agreed to ascertain a tripartite Trade and Labour Dialogue as a way to collectively promote internationally recognised labour rights, together with the eradication of pressured labour and little one labour.

Export controls

Cooperation within the TTC has been instrumental for the swift and aligned deployment of export controls on superior applied sciences comparable to aerospace and cyber surveillance to undermine Russia’s means to additional develop its industrial and navy capabilities. Both events dedicated to construct on and improve this robust collaboration.

Secure provide chains

With world provide chains additional challenged by the Russian aggression in opposition to Ukraine, each events agreed that shut cooperation to advance the resilience of provide chains is extra essential than ever. For occasion, the EU and US have agreed to develop a standard early warning and monitoring mechanism on semiconductor worth chains, to extend consciousness of and preparedness for provide disruptions, and data alternate to keep away from a subsidy race.

A devoted taskforce on public financing for safe and resilient digital infrastructure in third international locations shall additionally pave the way in which to joint US-EU public financing of digital initiatives in third-countries, based mostly on a set of frequent overarching ideas.

Technology requirements

In the sector of rising applied sciences, the EU and the US have agreed to ascertain a Strategic Standardisation Information (SSI) mechanism to advertise and defend frequent pursuits in worldwide standardisation actions. Both sides will work to foster the event of aligned and interoperable technical requirements in areas of shared strategic curiosity such asAI, additive manufacturing, recycling of supplies, or Internet of Things

Artificial Intelligence

Both events additional mentioned the implementation of frequent AI ideas and agreed to develop a joint roadmap on analysis and measurement instruments for reliable AI and threat administration.

Platform governance

The EU and the US additionally reaffirmed their help for an open, world, interoperable, dependable and safe Internet, in keeping with the Declaration for the Future of the Internet and the declaration on European digital rights and ideas. Moreover, the EU and US agreed to strengthen cooperation on key facets of platform governance.

SMEs entry to know-how

The EU and US revealed at the moment a joint greatest follow information with sources for the way SMEs can develop into extra cybersecure.

Environmental and local weather facets of commerce and know-how

Promoting sustainability is an overarching ambition for the TTC. In that spirit, Ministers agreed to work on commerce and atmosphere/local weather points, together with on fostering a greater understanding of the function that commerce can play in facilitating the dissemination of environmental items and providers; a better cooperation on inexperienced public procurement and work on frequent methodologies for carbon footprinting.

Trade boundaries

Ministers agreed to work collectively on options that can assist improve transatlantic commerce and funding, together with by way of elevated cooperation on authorities procurement and conformity evaluation, and exchanges on potential new commerce boundaries each bilaterally and in relation to 3rd international locations. They additionally agreed to coordinate their efforts to deal with non-market insurance policies, whereas looking for to keep away from collateral penalties on each other.

Background

The European Union and the United States introduced the EU-US Trade and Technology Council (TTC) at their summit in Brussels on 15 June 2021. The TTC serves as a discussion board for the EU and the US to coordinate approaches to deal with key commerce and know-how points, and to deepen transatlantic cooperation on this realm based mostly on shared democratic values. The inaugural assembly of the TTC happened on 29 September 2021. Following the assembly, 10 working teams have been arrange protecting points comparable to requirements, synthetic intelligence, semiconductors, export controls and world commerce challenges. The subsequent assembly of the TTC is deliberate in earlier than the top of 2022 within the United States.




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