EU says U.S. trade, tech council to boost its clout, set rules for 21st century By Reuters

© Reuters. FILE PHOTO: U.S. President Joe Biden walks with European Council President Charles Michel and European Fee President Ursula von der Leyen through the EU-U.S. summit, in Brussels, Belgium June 15, 2021. REUTERS/Yves Herman/File Picture

By Foo Yun Chee

BRUSSELS (Reuters) – The U.S.-EU Commerce and Know-how Council (TTC) will give Europe extra clout and set requirements and guidelines for the twenty first century, the EU’s commerce and digital chiefs mentioned, underscoring world considerations about China’s rising energy.

The feedback by Valdis Dombrovskis and Margrethe Vestager got here forward of the primary TTC assembly in Pittsburgh on Wednesday and as america and Europe face off with China in areas starting from commerce to defence to know-how and human rights.

“There’s actual strategic and geopolitical significance to this new platform as a means in setting requirements and guidelines for the twenty first century. So we want this Council to amplify our standing,” Dombrovskis informed reporters.

Dombrovskis insisted, nevertheless, that the platform was not focused at any specific nation.

“TTC is just not about any particular third nation, it’s about cooperation and coordination on a lot of coverage areas between america and the EU,” he mentioned.

The Council’s 10 working teams will concentrate on know-how requirements, inexperienced know-how, supply-chain safety, knowledge governance, export controls, funding screening and world commerce points, amongst others.

All these areas are key for the EU, Vestager mentioned.

“What we have now achieved is a bundle that covers, I feel, each offensive and defensive pursuits,” she informed reporters.

Dombrovskis mentioned French fury at Australia’s resolution to scrap a $40 billion submarine deal for one with america and Britain mustn’t deflect the EU from its long-term pursuits.

“We’re allies, companions and buddies, and sure buddies can simply sometimes make errors and we have now seen this in current weeks, however we knew this challenge mustn’t cloud our judgment on our strategic alliances,” he mentioned.

U.S. Secretary of State Antony Blinken, Commerce Secretary Gina Raimondo and Commerce Consultant Katherine Tai would be the co-chairs of the assembly with Dombrovskis and Vestager.

The EU hopes to carry a second assembly subsequent spring in Belgium.

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