U.S., EU agree to work on chip supplies, tech rules, China trade By Reuters


© Reuters. FILE PHOTO: A safety guard walks close to EU and U.S. flags, earlier than the EU-US summit, in Brussels, Belgium June 15, 2021. REUTERS/Yves Herman


By David Lawder and Nandita Bose

PITTSBURGH/WASHINGTON (Reuters) – America and European Union agreed on Wednesday to deepen transatlantic cooperation to strengthen semiconductor provide chains, curb China’s non-market commerce practices and take a extra unified method to regulating huge, world know-how companies.

Launching a brand new discussion board, the U.S.-EU Commerce and Know-how Council (TTC), senior cupboard officers from each continents additionally pledged to cooperate on the screening of investments on export controls for delicate dual-use applied sciences and on the event of synthetic intelligence (AI).

The assertion didn’t point out China however mentioned: “We stand collectively in persevering with to guard our companies, customers, and employees from unfair commerce practices, particularly these posed by non-market economies, which might be undermining the world buying and selling system.”

The Biden administration has saved in place tariffs imposed by former U.S. president Donald Trump however has sought to distinguish itself by collaborating extra with allies in its method to China.

The conferences have been led by U.S. Secretary of State Antony Blinken, Commerce Secretary Gina Raimondo, U.S. Commerce Consultant Katherine Tai, EU commerce chief Valdis Dombrovskis, and European Commissioner for Competitors Margrethe Vestager.

They met in a robotics and AI know-how growth middle constructed contained in the rusted skeleton of a former metal rolling mill topped with photo voltaic panels, an emblem of Pittsburgh’s post-industrial rebirth as a tech hub.

The assembly was almost derailed by French anger over a U.S. resolution this month to produce Australia with nuclear submarines, which prompted Canberra to scrap a $40 billion submarine contract with France.

However the U.S. and EU governments backed a joint declaration to strengthen semiconductor provide chains, focusing initially on easing short-term provide bottlenecks and afterward figuring out longer-term vulnerabilities and “strengthening our home semiconductor ecosystems, from analysis, design to manufacturing, with a view to enhancing resilience.”

They mentioned they’d work to keep away from a subsidy race to draw chip investments and search “the suitable incentives.”

The assertion didn’t specify a timeframe for a second TTC assembly, however EU officers mentioned this could doubtless happen within the spring of 2022 in Europe.


Reuters was first to report a draft assertion revealing a extra unified method to restrict the rising market energy of Massive Tech. This was echoed within the closing assertion that recognized frequent areas of concern resembling unlawful and dangerous content material amplified by algorithms.

“We’re dedicated to transatlantic cooperation relating to platform insurance policies that target disinformation, product security, counterfeit merchandise, and different dangerous content material,” the assertion mentioned.

With the US and Europe making an attempt to restrain the rising energy of American tech giants resembling Alphabet (NASDAQ:)’s Google, Fb (NASDAQ:), Apple (NASDAQ:) and Amazon (NASDAQ:), such cooperation would make it more durable for the U.S. tech trade to battle new guidelines.

Vestager, who has taken a troublesome stance on the U.S. tech trade for years, mentioned the discussions on AI have been among the many assembly’s greatest takeaway.

“Minds are assembly for synthetic intelligence to be reliable, to be human centered, and to have a danger primarily based method,” Vestager informed reporters after the assembly.

The brand new tech and commerce council has shaped 10 working teams to deepen cooperation on these areas and others that embrace local weather and clear applied sciences, communications know-how safety, and misuse of know-how to repress human rights.

A number of tech commerce teams in Washington mentioned the trade doesn’t need the US to undertake the European method to digital regulation.

EU officers mentioned the assembly’s contributors didn’t talk about one of many greatest transatlantic commerce irritants – U.S. tariffs on metal and aluminum which have prompted retaliatory EU duties on U.S. bourbon whiskey and bikes.

On Tuesday, Dombrovskis mentioned time was operating quick for the edges to achieve settlement earlier than an end-November deadline, however added the EU was prepared to take a look at related preparations agreed by Canada and Mexico that lifted U.S. tariffs on their metal and aluminum exports to the US in 2019.

Source link


News7h: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button