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EU-US Trade and Technology Council officially launched
Today [15 June], the European Union and the United States officially created the Trade and Technology Council (TTC). This initiative aims at strengthening transatlantic cooperation on new technologies. It will involve policymakers and technical experts from both sides of the Atlantic. The council will promote a democratic model of digital governance.
The following specific objectives were assigned to the TTC:
-Expand and deepen bilateral trade and investment
-Avoid new technical barriers to trade
-Cooperate on key policies on technology, digital issues and supply chains
-Support collaborative research
-Cooperate on the development of compatible and international standards
-Facilitate cooperation on regulatory policy and enforcement
-Promote innovation and leadership by EU and US firms
During the press conference, Ursula von der Leyen explained that the council would focus on the most urgent issues first. She mentioned semiconductors, that are “key components in many industries with significant supply constraints”.
The EU and the US will also cooperate in the areas of cybersecurity and artificial intelligence.
The TTC will meet periodically at political level. It will be chaired by two EU Commission Vice-Presidents, Margrethe Vestager (digital) and Valdis Dombrovskis (trade), and by the US Secretary of State, Anthony Blinken, US Secretary of Commerce, Gina Raimond and US Trade Representative, Katherine Tai.
The TTC will be comprised of working groups led or co-led by relevant Departments, Services or Agencies. It will initially include the following working groups:
1.Technology Standards Cooperation
2.Climate and Clean Tech
3.Secure Supply Chains
4.ICTS Security and Competitiveness
5.Data Governance and Technology Platforms
6.Misuse of Technology Threatening Security & Human Rights
7.Export Controls Cooperation
8.Investment Screening Cooperation
9.Promoting SME Access to and Use of Digital Technologies
10.Global Trade Challenges
In parallel, the EU and US have also launched a Joint Technology Competition Policy Dialogue that will focus on competition issues in tech sectors.
The EU and the US also committed to working on a Transatlantic Green Technology Alliance.
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