Inaugural Statement of the EU-US Trade and Technology Council

On 29 September 2021, the EU-US Trade and Technology Council (TTC) met for the first time in Pittsburgh.

The European Union and the United States reaffirmed the TTC's objectives:

  • Coordinating approaches to key global technology, economic, and trade issues;
  • Deepening transatlantic trade and economic relations, basing policies on shared democratic values.

The outcomes of Pittsburg will be:

  • Maintaining investment screening is necessary in order to address risks to national security
  • Export controls are necessary to ensure compliance with our international obligations and commitments.
  • Artificial intelligence (AI) technologies have the potential to bring significant benefits to our citizens, societies, and economies.
  • Commitment to building a partnership on the rebalancing of global supply chains in semiconductors
  • Respecting to global trade challenges andavoiding new and unnecessary barriers to trade
  • Protecting workers and labour rights, and combat forced and child labour
  • The importance of and share a commitment to consulting closely with diverse stakeholders

They created 10 working groups for future scope of work and they work on:

  • Technology standards
  • Climate and clean tech
  • Secure supply chains
  • Information and Communication Technology and Services (ICTS) Security and Competitiveness
  •  Data Governance and Technology Platforms
  • Misuse of Technology Threatening Security and Human Rights
  • Export Controls
  • Investment Screening
  • Promoting Small- and Medium-sized Enterprises (SME) Access to and Use of Digital Tools
  • Global Trade Challenges

You can find the full text of the Statement here.

Kind regards,

Zumbul Attorneys-at-Law

info@zumbul.av.tr