FACT SHEET: U.S.-EU Trade and Technology Council Establishes Economic and Technology Policies & Initiatives

New Guidelines Will Strengthen Our Economic Partnership, and Update Policies of Global Economic climate Browse…

FACT SHEET: U.S.-EU Trade and Technology Council Establishes Economic and Technology Policies & Initiatives

New Guidelines Will Strengthen Our Economic Partnership, and Update Policies of Global Economic climate

Browse the U.S.-EU Joint Statement listed here.

The U.S.-EU Trade and Technological innovation Council (TTC) held its second ministerial meeting in Saclay – Paris, France on May well 15-16, 2022. U.S. co-chairs, Secretary of Point out Antony J. Blinken, Secretary of Commerce Gina Raimondo, and United States Trade Agent Katherine Tai ended up joined by EU Co-Chairs European Commission Government Vice Presidents Margrethe Vestager and Valdis Dombrovskis to assessment progress, meet with a range of U.S. and EU stakeholders, and progress Transatlantic cooperation and democratic techniques to trade, technology, and stability that deliver for men and women on both of those sides of the Atlantic. 

Thanks to the near and enduring ties amongst the United States and the European Union, we have solved long-standing bilateral troubles, such as disagreements on tariffs, and leveraged the toughness of our partnership to counter non-marketplace, trade distortive techniques, and reply quickly to Putin’s war with unparalleled sanctions and export manage steps. Setting up on these successes, the United States and European Union, dwelling to 780 million men and women who share democratic values and the most significant financial connection in the globe, will progress the TTC agenda on a amount of crucial economic and technological innovation policies and initiatives built to fortify our bilateral economies, fulfill present-day geopolitical challenges and update the policies of the global overall economy.

TTC doing the job teams are deepening U.S.-EU cooperation by expanding entry to electronic instruments for compact- and medium-sized enterprises and securing crucial source chains this sort of as semiconductors. They are collaborating closely on emerging engineering expectations, climate and thoroughly clean tech objectives details governance and engineering platforms, details and communications technological know-how services’ (ICTS) stability and competitiveness, and the misuse of technological know-how threatening stability and human legal rights. The TTC functioning teams are also coordinating on export controls, financial investment screening and security dangers, and a selection of world-wide trade difficulties, such as countering the unsafe effect of non-marketplace, trade-distortive guidelines and tactics on technological growth and competitiveness in sectors of shared precedence. To be certain that the govt dialogues are educated by the wide perspectives of the U.S. and EU communities advise their function, the TTC operating groups are continuing sturdy engagement with a varied assortment of stakeholders, which includes people in field, labor businesses, think tanks, non-gain corporations, environmental constituencies, teachers, and other civil society users.

For the duration of their ministerial meeting, the U.S. and EU TTC co-chairs reviewed the results generated by the joint doing work teams and announced key outcomes which includes:

  • Deeper information and facts trade on exports of essential U.S. and EU engineering, with an first focus on Russia and other prospective sanctions evaders, coordination of U.S. and EU licensing insurance policies, and cooperation with partners further than the United States and the European Union
  • Advancement of a joint roadmap on analysis and measurement applications for honest Synthetic Intelligence and possibility management, as well as a popular task on privateness-improving systems
  • Generation of a U.S.-EU Strategic Standardization Data (SSI) mechanism to permit information and facts sharing on worldwide expectations progress
  • An early warning system to much better predict and tackle likely semiconductor provide chain disruptions as nicely as a Transatlantic approach to semiconductor investment aimed at guaranteeing stability of source and keeping away from subsidy races
  • A devoted taskforce to boost the use of reliable/non-significant-chance ICTS suppliers by financing for deployments in 3rd international locations
  • A new Cooperation Framework on issues relevant to info integrity in crises, particularly on electronic platforms, with a aim on ongoing concerns associated to Russian aggression, which includes Russia’s steps to manipulate and censor details
  • A stakeholder-focused Trade and Labor Dialogue to talk about plan solutions to endorse internationally recognized labor rights and to assistance employees and companies make thriving digital and inexperienced transitions, continue being globally competitive, and take pleasure in broad and inclusive prosperity
  • An early dialogue on shared trade worries pertaining to third-international locations actions or initiatives and an early stage session mechanism pertaining to bilateral boundaries that may drawback the transatlantic economic climate
  • A plan dialogue aimed at creating responses to global foodstuff stability issues caused by Russian aggression in Ukraine and
  • A U.S.-EU manual to cybersecurity finest practices for modest- and medium-sized organizations, whose business is impacted disproportionally from cyber threats.