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Investment screening
The EU and the US declare that they want to remain open to foreign investment. However, they will maintain investment screening regimes to protect national security and, within the EU, public order.
Export controls
The EU and the US recognise the importance of effective controls on trade in dual-use items. They promote a multilateral approach to export controls. The EU and the US agree that export control should not disrupt strategic supply chains and should comply with WTO rules.
The EU and the US intend to hold prior consultations concerning the introduction of controls outside the multilateral regimes.
Artificial intelligence technologies
The EU and the US affirm their willingness and intention to develop and implement trustworthy and responsible AI. They are opposed to AI technologies that do not respect international human rights laws, such as systems of social scoring. Concretely, the EU and the US will implement the OECD Recommendation. They will also discuss measurement and evaluation tools and activities to assess the technical requirements for trustworthy AI.
The EU and the US agree on a risk-based approach to AI. Measures should be proportionate to the risks.
Semiconductors
The EU and the US plan on rebalancing global supply chain in semiconductor to improve security of supply. They also want to enhance their capacity to design and produce the most powerful and resource-efficient semiconductors.
The EU and the US will jointly identify gaps in the semiconductor value chain and strengthen their domestic ecosystems.
The EU and the US also “share the aim of avoiding a subsidy race and the risk of crowding out private investments”.
Global trade challenges
The EU and the US intend to “work closely together to deal with particularly injurious non-market trade distortive policies and practices”. They also intend to work to create competitive, free and fair transatlantic commerce in new and emerging technologies, in particular by avoiding non-tariff barriers.
Orientations for the working groups
The Joint Statement also sets the direction for the 10 working groups of the Trade and Technology Council:
-Technology Standards: cooperation on a risk-based approach to AI. Formal and informal cooperation mechanisms to share information regarding technical proposals in standardisation bodies.
-Climate and Clean Tech: identify opportunities in low -and zero- carbon technologies, products and services
-Secure Supply Chains: alongside the dedicated track on semiconductors. A first focus will be on clean energy, pharmaceuticals and critical materials.
-ICTS Security and Competitiveness: 5G, undersea cables, data centres, cloud infrastructure and microelectronic components will be addressed.
-Data Governance and Technology Platforms: common issues of concern around gatekeepers, including risks for democracies
-Misuse of Technology Threatening Security and Human Rights: avoid abuse of technology against security and human rights
-Export Controls: technical consultations on legislative and regulatory developments.
-Investment Screening: exchange of information on investment trends impacting security
-Promoting SME Access to and Use of Digital Tools: opportunity for SMEs to share their needs, experience, strategies and best practices.
-Global Trade Challenges: focus on challenges from non-market economies, non-tariff barriers, fundamental labour rights, environmental issues
If you have any questions on this topic, please do not hesitate to contact Camille Dornier - Policy Manager: camille.dornier@eurosmart.com
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