TTC on Export Controls & Investment

In their Joint Statment, members of the US - EU Trade and Technology Council expressed support for the ongoing sanctions activities, export and investment controls:

Cooperation on Export Controls and Sanction-Related Export Restrictions

The TTC continues to support cooperation by the U.S., EU, and other international partners on the economic measures against Russia and Belarus for the war in Ukraine. The TTC supports implementation of these measures through the consistent exchange of information on the application of controls as well as working to address enforcement and circumvention risks. This work has delivered important results, including identifying key categories of goods critical to Russia’s efforts on the battlefield that the European Union, the United States, and their partners used to interrupt diversion efforts to Russia and further tighten enforcement through counter-evasion actions. This cooperation also enabled the United States and the European Union to design dedicated restrictions to prevent exports of technology found in Iran-manufactured drones and to allow information sharing on our trade restrictions. The United States and the European Union are coordinating engagements with third countries to counter evasion of export restrictions on sensitive items and are conducting coordinated capacity building actions to enable third countries’ authorities to tackle export control evasion and circumvention more effectively.

The TTC has also supported technical consultation on regulatory development between the United States and the European Union, including on coordinated timing for publishing the new controls on biotechnologies decided in the Australia Group in 2022. The TTC is also working towards the clarification and simplification of re-export procedures for the benefit of exporters and to develop a common understanding of how U.S. and EU rules are applied on both sides of the Atlantic.

The United States and the European Union will further consult each other in advance of the introduction of export controls on sensitive items.

The United States and the European Union will continue discussions where appropriate, on risk assessments underlying controls on emerging technologies with a view to enable transatlantic cooperation for the development of such technologies and address the associated risks for international security and human rights.

Finally, as recently underscored by the G7 Non-proliferation Directors Group, the United States and the European Union recall that export controls remain a key non-proliferation instrument in maintaining international security and stability and recognize the central role of multilateral non-proliferation export control regimes in that regard. Export controls are crucial for creating a favorable environment for further economic growth through more secure trade and investment, and we will continue  cooperating among ourselves and work with other states in strengthening effective and responsible export controls to address the challenges posed by the misuse and illicit diversion of technologies critical for the development of weapons of mass destruction, their means of delivery, and for advanced military technology programs by state and non-state actors, while promoting an environment in which science, technology and legitimate research collaboration can flourish.

Investment Screening

Making full use of comprehensive, robust national security-based and for the EU, public-order based investment screening mechanisms on both sides of the Atlantic, while remaining open for investment. The United States and the European Union welcome the recent significant progress towards the adoption and full implementation of investment screening mechanisms in a number of European Union Member States without such systems. The United States and the European Union continue to support the development and implementation of these mechanisms, including through joint outreach to interested stakeholders starting with the Western Balkans.

Outbound Investment Controls

The United States and the European Union recognize that appropriate measures designed to address risks from outbound investment could be important to complement existing tools of targeted controls on exports and inbound investments, which work together to protect our sensitive technologies from being used in ways that threaten international peace and security.