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US-EU Trade And Technology Council Announces New Initiatives

useutrade may17 lt

The second ministerial meeting of the U.S.-EU Trade and Technology Council announced new initiatives on supply chains, food security, export controls, emerging technology, digital infrastructure, and trade.

The meeting held in the French city of Saclay was attended by U.S. co-chairs, Secretary of State Antony Blinken, Secretary of Commerce Gina Raimondo, and United States Trade Representative Katherine Tai and EU Co-Chairs European Commission Executive Vice Presidents Margrethe Vestager and Valdis Dombrovskis.

TTC held its second ministerial meeting to review progress, meet with a range of U.S. and EU stakeholders, and advance Transatlantic cooperation and democratic approaches to trade, technology, and security that benefit workers and families on both sides of the Atlantic.

Key outcomes of the ministerial meeting include Deeper information exchange on exports of critical U.S. and EU technology, with an initial focus on Russia and other potential sanctions evaders, coordination of U.S. and EU licensing policies, and cooperation with partners beyond the United States and the European Union; Development of a joint roadmap on evaluation and measurement tools for trustworthy Artificial Intelligence and risk management, as well as a common project on privacy-enhancing technologies.

It also includes creation of a U.S.-EU Strategic Standardization Information (SSI) mechanism to enable information sharing on international standards development; An early warning system to better predict and address potential semiconductor supply chain disruptions as well as a Transatlantic approach to semiconductor investment aimed at ensuring security of supply and avoiding subsidy races; A new Cooperation Framework on issues related to information integrity in crises, particularly on digital platforms.

In addition, a stakeholder-focused Trade and Labor Dialogue is to discuss policy options to promote internationally recognized labor rights and to help workers and firms make successful digital and green transition; A policy dialogue aimed at developing responses to global food security challenges caused by Russian aggression in Ukraine; and A U.S.-EU guide to cybersecurity best practices for small- and medium-sized companies.

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