Alignment between US and EU at TTC Meeting

Significant Alignment between US and EU Evident in Recent TTC Meeting

US Secretary of State, Antony Blinken, announced that there has been a notable alignment between US and European Union (EU) officials on an array of economic issues. This announcement came after the fourth meeting of the US-EU Trade and Technology Council (TTC).

Blinken stated that both sides are progressing constructively on key challenges, with a particular emphasis on creating sustainable, resilient and diversified supply chains. The need for such focus has become critical following the COVID-19 pandemic.

Key challenges also include the war in Ukraine by Russia and countering China's non-market economy practices. Joint efforts are also directed towards ensuring the availability of critical minerals that will power economies in the future.

The concluding press conference featured several dignitaries, including US Trade Representative Katherine Tai, Commerce Secretary Gina Raimondo, European Commission Executive Vice-President Margrethe Vestager, and her counterpart, Valdis Dombrovskis.

During the ministerial meeting, the two sides established key outcomes to advance cooperation on emerging technologies, sustainable trade, economic security, secure connectivity, and digital human rights.

Mr. Dombrovskis disclosed that a consensus has been reached on a work program focused on creating a green transatlantic marketplace. He also mentioned discussions on economic security, including export controls and concerns regarding economic coercion from non-market economies and practices.

Key outcomes from the 4th TTC ministerial meeting include collaboration on clean energy development, enforcement against potential sanctions violators, coordination against economic coercion, and development of a joint early warning mechanism for disruptions in semiconductor supply chains.

In addition, several advancements were achieved, including an AI roadmap, a common vision on 6G wireless communication, and development of a Memorandum of Understanding to scale up support for the rollout of secure and resilient digital connectivity in Costa Rica and the Philippines.

The two sides committed to deepened collaboration with labor, business, and government to eradicate forced labor from global supply chains and assess the green transition's impact on workers.

US EU TTC Joint Statement [here]