Trade & Technology Council Touts Progress After Second Meeting
U.S. and EU collaboration in the Trade & Technology Council remains strong and has helped the regions coordinate actions against Russia, officials said Monday. The second TTC meeting, which took place May 15-16 in France, had several main outcomes, said…
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the European Commission. Among them were a pact to make supply chains more resilient and an agreement to strengthen collaboration on swift and aligned export controls on advanced technologies such as aerospace and cyber-surveillance to undermine Russian attempts to boost industrial and military capabilities. It's in the interests of both parties to cooperate on all aspects of supply chains, Commerce Secretary Gina Raimondo said at a briefing: "A certain level of coordination" aligned to TTC's goal of expanding the ecosystem is good for both sides. Other areas where the council has had progress include platform governance, where the EU and U.S. reaffirmed support for an open, global, interoperable, secure internet in line with their Declaration for the Future of Internet (see 2204280043); and trade barriers, where they will consider ways to increase trans-Atlantic trade and investment, and coordinate efforts to address non-market policies. Raimondo noted the group has had positive results in its first eight months, allowing it to push back against Russia. Because of the council's work on export controls, she said, the EU and U.S. were able to cut Russia off from all the advanced technology it needs to advance its operations, and they have now agreed to align technological standards in a way that will advance democratic values. The discussion of nonmarket economies such as China's has been an essential part of the partners' trade collaboration in the TTC, said U.S. Trade Representative Katherine Tai. The council began by looking at nonmarket practices that involve state influence on a market economy but has now expanded its view to include Russia's invasion of Ukraine. That's a nonmarket decision that affects the entire world, Tai added. In less than a year, the "TTC has become a pillar of transatlantic cooperation," said President Joe Biden and EC President Ursula von der Leyen. In addition to the measures announced, the parties should use the council "to ensure new regulations are implemented in a non-discriminatory, transparent manner that limits unintended consequences," said the Computer & Communications Industry Association.