At the first US-EU trade and technology meeting, competition, chips, and artificial intelligence are on the table

According to senior US administration officials, the US and EU hope to discuss chip shortages, AI, and tech competition issues at the first TTC meeting this week, which took place on Monday.

Following the first TTC meeting, the US and EU intend to announce a more unified approach to limiting Big Tech’s growing market power. Reuters broke the storey for the first time on Thursday.

According to recent White House announcements, the council will meet for the first time on September 29th in Pittsburgh, Pennsylvania.

Additionally, US Secretaries of State Antony Blinken and Gina Raimondo, US Trade Representative Katherine Tai, EU Trade Commissioner Valdis Dombrovskis, and European Commissioner for Competition Margrethe Vestager will be present.

The council will give Europe more clout and set standards and rules for the twenty-first century

“As a government, we support strict regulations that encourage innovation while preserving the free market. We believe there are opportunities to collaborate with the European Union as part of that “a high-ranking government official stated

According to senior administration officials, the US and Europe are collaborating on the Digital Markets Act and Digital Services Act, two EU legislative proposals that would establish a framework for regulating the tech industry.

Technology trade associations in Washington, D.C., have stated that the industry is opposed to adopting Europe’s approach to digital regulation in the United States.

According to Robert Atkinson, president of the Washington-based Information Technology & Innovation Foundation, “the risk is that Europe will press the United States to align its regulations with the EU by taking a cautious approach… which would skewer America’s leading tech companies.”

“We don’t have to, and we shouldn’t. Our interests are broadly aligned and compatible, particularly in relation to China.” In accordance with Atkinson’s assessment.

According to the US Chamber of Commerce, TTC actions should “avoid policies and regulatory measures that explicitly or implicitly target businesses headquartered in the other party — through law or regulation.” According to them.

According to officials, the panel’s top priority will be to alleviate the severe chip shortage that has harmed companies such as US automakers.

They’ll also look into ways to improve privacy protections through AI development and implementation, and they’ll conduct a joint study to see how the technology affects global trade.

As a result, according to a US administration official, US-EU tariff talks are continuing separately from the TTC process, with the goal of providing guidance on the next steps by the end of the year.


Leave a Reply

Your email address will not be published. Required fields are marked *