06 Dec, 2022

EU-U.S. Trade and Technology Council can deliver

Following the conclusion of the third Trade and Technology Council held this week in Maryland, USA, Renew Europe welcomes the progress made by the European Union and the United States on a range of challenges. Transatlantic cooperation remains key in our uncertain global context, with Putin’s war of aggression in Ukraine and a more assertive China. Renew Europe also expects solutions to EU concerns on the Inflation Reduction Act to materialise in a timely manner. The United States is an ally with whom Europe shares a deep bilateral trade and investment relationship.

Renew Europe strongly believes in the relevance of the Trade and Technology Council as an important forum to meet, discuss and identify joint solutions and opportunities for cooperation. Since its creation, The Group has welcomed the creation of the Transatlantic Initiative for Sustainable Trade, the commitment to greater transparency on semiconductors subsidies, the establishment of an early-warning system for potential problems in the global semiconductors supply chain, the roadmap for the development of a trustworthy artificial intelligence and the two telecommunications project in Kenya and Jamaica through a transatlantic development funding.

Catharina Rinzema MEP (VVD, NL), Renew Europe standing shadow rapporteur on the U.S. in the European Parliament Committee on International Trade (INTA), declared:

"As war rages in Ukraine, now is the time to show the strength of our Transatlantic partnership. We have to stick together as likeminded partners, whether it concerns having a common approach towards Russia, strengthening our semiconductor supply chains or developing new standards such as on artificial intelligence. We also need a proactive stance towards solving global challenges, for instance when it comes to climate change, as neither the EU nor the US can solve these global challenges alone. I believe it is time to show ambition when it comes to both trade & technology, because the EU and the US have the ability to shape the future together."

Dragoş Tudorache MEP (REPER, RO), Renew Europe standing shadow rapporteur for EU-US relations in the European Parliament Committee on Foreign Affairs, added:

"It is important that the TTC moves from statements of intention to concrete cooperation and deliverables. As the Parliament’s co-rapporteur on the EU AI Act, I particularly appreciate the joint roadmap for trustworthy AI coming out of this meeting, and I consider it a cornerstone for transatlantic convergence in this domain. In the future, to ensure the TTC withstands irritants and political change, I would like to see the European Parliament and US Congress play an enhanced role in its workings."

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