The U.S. and the European Union said they have made “tangible progress” on digital trade, resilient supply chains, export controls, and other issues following the most recent meeting of the U.S.-EU Trade and Technology Council held Dec. 5. The TTC plans to meet again in mid-2023 in Europe to advance existing projects and discuss new ones.
Highlights of steps the U.S. and the EU have taken or intend to take under the TTC include the following.
- before the next TTC meeting, compile and exchange information on using digital technology to simplify or reduce the cost of commercial actors’ interactions with governments in relation to trade-related policy, legal requirements, or regulatory requirements, which will then be used to develop joint best practices
- a new transatlantic initiative on sustainable trade that will work to increase two-way trade and investment in green goods and services and aid efforts to decarbonize energy-intensive industries
- a pilot exchange of information on how to simplify transatlantic trade with regard to exports and reexports of dual-use items and technologies, an exchange of best practices on export enforcement so that restrictions on Russia are consistently applied, and cooperation on export controls for sensitive and emerging technologies
- plans to explore coordinated actions to foster diversification and make key supply chains more resilient
- an expert task force to discuss export controls, intellectual property, and other issues related to quantum information science and technology
- institutionalizing an early warning system to address and mitigate semiconductor supply chain disruptions, which could be extended to other countries, and a commitment to reciprocal transparency on semiconductor subsidies
- increasing standards cooperation on 3-D manufacturing, plastics recycling, and digital identity and launching new efforts on post-quantum encryption and international cybersecurity standards
- exchanges of information on the market situation of U.S. and EU medical device companies in China to better understand the impact of non-market policies and practices
- a joint roadmap aimed at helping to lower trade barriers and bolster market competition for trustworthy artificial intelligence
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