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PITTSBURGH/WASHINGTON: U.S. and European Union commerce and competitors officers launched a brand new discussion board on Wednesday becoming a member of forces to higher compete with China, protect delicate applied sciences, enhance semiconductor provides and coordinate regulation of enormous know-how companies.
The U.S.-EU Commerce and Expertise Council opened its first assembly in a former metal mill constructing in southeast Pittsburgh that has been repurposed as a analysis and improvement heart for synthetic intelligence (AI), robotics and superior manufacturing.
Principal individuals are U.S. Secretary of State Antony Blinken; Commerce Secretary Gina Raimondo; U.S. Commerce Consultant Katherine Tai; EU commerce chief Valdis Dombrovskis; and European Commissioner for Competitors Margrethe Vestager. A joint assertion is predicted to be issued on Wednesday afternoon.
The assembly was almost derailed by French anger over a U.S. determination this month to provide Australia with nuclear submarines, which prompted Canberra to scrap a $40 billion submarine contract with France.
However EU governments backed a joint declaration to strengthen semiconductor provide chains anticipated from the assembly that claims the bloc and america share mutual provide dependencies within the close to time period, though a reference to a second TTC assembly within the first quarter of 2022 was dropped.
BIG TECH POWER
Reuters was first to report a draft of the assertion on joint U.S.-EU actions, together with taking a extra unified method to restrict the rising market energy of Massive Tech.
With the U.S. and Europe attempting to restrain the rising energy of American tech giants reminiscent of Alphabet’s Google, Fb, Apple and Amazon.com Inc, such cooperation has change into critically necessary for regulators on each side of the Atlantic. It additionally would make it more durable for the U.S. tech trade to combat new guidelines.
The council has 10 working teams and can talk about areas reminiscent of chip shortages, synthetic intelligence (AI) and tech competitors points.
A number of tech commerce teams in Washington stated the trade doesn’t need the European method to digital regulation to be adopted in america.
“It’s crucial for U.S. negotiators to vigorously defend U.S. financial pursuits within the TTC,” the Data Expertise & Innovation Basis stated in a press release https://itif.org/publications/2021/09/13/advancing-us-goals-us-eu-trade-and-technology-council. “They need to not gloss over actual variations in privateness guidelines, AI regulation, antitrust regulation, digital taxation, content material moderation, and others.”
On Tuesday, Dombrovskis informed reporters america and the EU share many targets for AI, reminiscent of curbing its use for surveillance and repression, however the TTC will assist the place the 2 sides differ.
“It gives us with a discussion board to debate these points, to see the place we’ve got frequent floor, the place we’ve got variations and easy methods to tackle these variations,” he stated.
However senior U.S. officers stated the consultations aren’t anticipated to deal with resolving a long-running dispute over U.S. metal and aluminum tariffs, which U.S. officers stated are continuing on a separate monitor from the TTC.
Dombrovskis stated the EU was prepared to take a look at comparable preparations agreed by Canada and Mexico that lifted U.S. tariffs on their metal and aluminum exports to america in 2019, however added {that a} deal wanted to be agreed by early November.
Raimondo, whose company applied the U.S. metals tariffs, has stated a spotlight for the assembly was discussing with European allies methods to restrain China’s non-market habits, together with dumping underpriced metal into U.S. and European markets.
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A scarcity of semiconductors is simply a part of the issue, Alixpartners stated in a brand new forecast. Excessive costs and tight provides of commodities reminiscent of metal and plastic resin are driving up prices and forcing automakers to curtail manufacturing.
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