US and EU Launch Trade and Technology Council
During the EU-US Summit in Brussels, the United States and European Union set a joint transatlantic agenda, agreeing to a set of proposals to strengthen trade, investment, and technological cooperation. In the wake of China’s rise as a digital power, the joint initiatives push back against Chinese political and economic influence.
The US-EU Trade and Technology Council will help strengthen global cooperation on technology, digital issues, and supply chains. In a joint statement on the “renewed Transatlantic partnership,” the EU and US vowed to closely cooperate on approaches to China, which “include elements of cooperation, competition, and systemic rivalry.”
Along with the US-EU TTC, the US and EU intend to establish the US-EU Joint Technology Competition Policy Dialogue in order to facilitate cooperation on cybersecurity information sharing and awareness, and on cybersecurity certification of products and software.
The partnership plans to make supply chains less reliant on China while reducing the global shortage of microchips through incentives to bring semiconductor manufacturing to the US and EU.
The council will include individual working groups focusing on technology standards cooperation, climate and green technology, information and communications technology security and competitiveness, data governance, the misuse of technology threatening security and human rights, and other topics.