EU-US Trade and Technology Council addresses common challenges and global crises

Today, the EU and the US hosted the third Ministerial Meeting of the Trade and Technology Council (TCC) in College Park, Maryland.

The CTC is a key forum for deepening transatlantic cooperation to facilitate trade and develop global standards in technology and security. Geostrategic challenges, including Russia’s unprovoked war of aggression against Ukraine, have made close coordination within the framework of the CTC all the more important.

The meeting was co-chaired by Margrethe VestagerExecutive Vice-President of the Commission, and Valdis DombrovskisExecutive Vice-President of the Commission, as well as, on the American side, by Antony Blinken, Secretary of State, Gina Raimondo, Secretary of State, and Katherine Tai, United States Trade Representative.

The two sides took stock of the work of the EU-US working group on the Cut Inflation Act, where the EU again expressed its serious concerns in particular with regard to the discriminatory provisions of this law and the distorting subsidies. TCC took note of the preliminary progress that has been made. The EU looks forward to a constructive response from the US to its concerns.

Main outcomes of the third TCC ministerial meeting

Digital infrastructures and connectivity

In the current climate of geopolitical tensions, the internet critical infrastructure are exposed to increasing risks. The EU and US will work to facilitate projects that build resilience in infrastructure such as strategic land and submarine cables. Both parties also support a secure and resilient digital connectivity in partner countries. As a first step, more than a thousand public schools and children’s homes in Jamaica will be connected, and a similar project will be set up in Kenya, in partnership with the authorities, to connect schools by fiber optic located in remote areas.

Cooperation in the field of emerging technologies

On both sides of the Atlantic, we share the same vision of emerging technologies. The two parties have established a joint roadmap to develop common tools and standards for a trustworthy artificial intelligence (AI). They will work to develop common standards in critical areas such as post-quantum cryptography and cybersecurityinternet of things (IoT). The EU and the United States also plan to work together on research and development in the field of quantum technologies in order to promote trade and remove barriers to transatlantic trade.

In order to advance the adoption of electric vehiclesthe United States and the EU will develop a common international standard on megawatt charging systems for heavy-duty vehicles, which should be adopted by 2024. The EU and the United States also intend to elaborate in 2023 recommendations concerning the public charging infrastructure for electromobility purposes.

Building resilient semiconductor supply chains

Russian aggression against Ukraine has put tremendous pressure on global supply chains. The EU and the US today signed two agreements: a early warning mechanism to stem and mitigate disruptions in the semiconductor supply chain, as well as a commitment to an unprecedented level of reciprocal transparency in semiconductor subsidies, to avoid subsidy race.

Promoting our values ​​around the world and engaging with our partners

The EU and the United States promote their values ​​around the world through a open, free, global, interoperable, reliable and secure internet, as set out in the statement on the future of the internet. The EU and the United States adopted a joint statement on the protection of human rights defenders online and presented the first report of the group of experts they commissioned to study the impact on citizens from government-imposed suspensions of internet access.

The two parties have agreed to cooperate to pool digital resources such as AI models and computing power to address major challenges in the areas of climate change and extreme weather forecasting, health or climate change. agriculture, and making these public goods available to partner countries.

Stepping up transatlantic efforts for sustainable trade

The EU and the United States have agreed to launch thetransatlantic initiative on sustainable trade. This initiative will strengthen work within the CTC, which is working to support the transition to a low-carbon economy and increase trade and investment in ‘green’ goods and services. Both parties intend to explore areas of cooperation where there are opportunities to decarbonize our energy-intensive industries and facilitate the deployment of goods and services critical to the transition to more circular and climate-neutral economies. .

Strengthen security through export control and investment screening

Cooperation within the CCT has been instrumental in the rapid and harmonized establishment of export controls advanced technologies against Russia. The EU and the US agreed to continue their cooperation in this area, in particular as regards the exchange of information. The parties continue to debate investment screening, with a focus on the security risks posed by certain investments in sensitive technologies. The parties also agreed to study the strategic instruments they could use to combat non-market based economic policies and practices, as well as to review possible joint actions to combat economic coercion.

Continued growth in transatlantic trade

Transatlantic trade is the largest bilateral trade relationship in the world and benefits both economies immensely, with more than €1 trillion in annual trade taking place in this context. Ministers agreed to help further develop transatlantic trade by giving new impetus to the extension of the Mutual Recognition Agreement (ARM) relating to marine equipment and the extension of the MRA relating to pharmaceutical products (vaccines). In addition, ministers supported efforts on conformity assessment, primarily in the context of discussions on the machinery sector.

Both parties will also explore the possibility of using digitalization to facilitate transatlantic trade. The ministers expressed their support for the idea of ​​digitizing existing MRAs and increasing their attractiveness. Finally, the two parties will engage in a pilot project on digital tool initiatives that help reduce trade-related red tape.

Cultivating talents for the digital transition

The promotion of talent and digital skills is an essential pillar of the digital transition. The EU and the United States intend to launch a working group called ‘Talent for Growth’, similar to the coalition for digital skills and jobswhich will bring together government officials and private sector leaders from business and labor as well as organizations providing training.

context

EU and USA launched the TCC at the summit which they hosted in Brussels on June 15, 2021. The TCC is a forum for the EU and the US to coordinate their approaches to key trade and technology issues and to deepen transatlantic cooperation. in this field on the basis of common democratic values. Ten working groups have been set up to examine issues such as standards, artificial intelligence, semiconductors, export controls and global trade challenges. The next TCC meeting is scheduled for mid-2023 and will be hosted by the EU.

Statements by members of the College

The EU builds a broad community of countries around the world that share the same values ​​and the same commitment to democracy, freedom and human rights. The United States is one of our closest partners, and together we encourage a fair and inclusive approach to digital technology through the implementation of trustworthy artificial intelligence, the protection of human rights rights and fundamental freedoms online as well as inclusive and safe access to the internet.

Margrethe Vestager, Executive Vice-President for a Europe Fit for the Digital Age – 05/12/2022

The CTC is an essential platform for deepening and refining transatlantic unity in times of profound geopolitical change. Today, we continue to implement new initiatives to facilitate transatlantic trade. Our new Transatlantic Sustainable Trade Initiative will help promote trade in green goods and services. We are committed to using digital tools to facilitate trade and advance the mutual recognition of standards in areas such as machinery. However, if we are to build a truly competitive marketplace for green and digital economies on both sides of the Atlantic, the CTC also needs to address our trade disputes and barriers when they arise.

Valdis Dombrovskis, Executive Vice President for Trade – 05/12/2022

To know more

EU-US TCC Page

TCC joint statement

Factsheet on the CTC’s key trade outcomes

Factsheet on key CCT technology results

CTC Futurium Platform

EU-US trade relations

EU and US launch CTC

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EU-US Trade and Technology Council addresses common challenges and global crises


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