Breaking Stories

US, EU Officials Talk Tech Regs at Inaugural Trade Summit in Pittsburgh









Officials from the U.S. and the European Union are meeting on Wednesday (Sept. 29) to forge a unified stance regarding new technologies while also expanding trade and investment ties, according to multiple reports.

The U.S.-EU Trade and Technology Council (TTC) was formed at the U.S.-EU Summit in Brussels on June 15 and is holding its inaugural summit at a Pittsburgh steel mill repurposed as a development center for artificial intelligence, robotics and advanced manufacturing.

“We renewed our engagement with the European Union, a fundamental partner in tackling the full range of significant issues facing our world today,” President Joe Biden said in a White House statement.

See also: Commerce Secretary: US, Europe Must Join Forces to Curb China’s Progress

Tackling issues like data governance and technical standards, the summit will consist of 10 working groups that will seek common ground on export controls, securing supply chains and regulating artificial intelligence (AI) and other emerging technologies. Although no one country is expected to be singled out, competitive threats by “nonmarket economies” are a concern, per reports.

The misuse of technology threatening security and human rights are also up for discussion, as are investment screening, and access to, and use of, digital technologies by small and medium enterprises, according to a statement by the EU.

Overall goals of the initial summit include developing a joint framework of cooperation that moves beyond differences and begins to align both regions’ priorities.

Related news: Preparing for Europe’s Cross-Border Tax Rules

The TTC is co-chaired by European Commission Executive Vice-President and EU Competition Commissioner Margrethe Vestager; European Commission Executive Vice-President and EU Trade Commissioner Valdis Dombrovskis; U.S. Secretary of State Antony Blinken; U.S. Secretary of Commerce Gina Raimondo; and U.S. Trade Representative Katherine Tai.

Pittsburgh was chosen as the site for the inaugural meeting because of the efforts it put forth to reinvent itself as a technology hub and develop relationships with European partners, the White House said.




What is your reaction?

Excited
0
Happy
0
In Love
0
Not Sure
0
Silly
0

You may also like

Leave a reply

Your email address will not be published. Required fields are marked *