US and EU Trade and Tech council to meet on Sept 29 in Pittsburgh

According to senior officials from the Biden Administration, the United States and the European Union are scheduled to discuss the global shortage of semiconductors, tech competition and artificial intelligence (AI) during their first Trade and Tech Council (TTC) meeting scheduled for later this week.

The TTC is likely to meet for the first time on September 29 in Pittsburgh.

The meeting will be attended by U.S. Secretary of State Antony Blinken, Commerce Secretary Gina Raimondo, U.S. Trade Representative Katherine Tai and EU trade chief Valdis Dombrovskis along with European Commissioner for Competition Margrethe Vestager.

On Sunday, EU’s trade and digital chiefs had said, the council would give Europe more clout and set standards and rules for the 21st century.

“We as an administration believe in strong pro-competition regulation. … We do think as a piece of that we have opportunities to work together with the European Union,” said an administration official.

The United States and the EU will discuss issues and recommendations for the Digital Markets Act, the Digital Services Act, as well as legislative proposals from the European Union that offer a framework for regulating the tech sector.

Many tech trade groups in the United States have voiced their opposition to the EU’s approach in the United States.

“The risk is that the European side will press the United States to harmonize its regulations with the EU by taking a precautionary approach … which would skewer America’s leading tech companies,” said Robert Atkinson, president of the Information Technology & Innovation Foundation, a Washington-based tech think tank.

“We shouldn’t do that, nor do we need to. Our interests are broadly aligned and compatible, particularly when it comes to China,” said Atkinson.

In a statement the U.S. Chamber of Commerce said, the TTC’s actions should “avoid policies and regulatory measures that target businesses headquartered in the other party — explicitly or implicitly — through law or regulation.”

Categories: Creativity, Economy & Finance, Entrepreneurship, Geopolitics, HR & Organization, Regulations & Legal, Strategy

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