© Reuters. U.S. Secretary of State Antony Blinken is flanked by Commerce Secretary Gina Raimondo and Trade Representative Katherine Tai as they meet with European Commission Executive Vice Presidents Margrethe Vestager and Valdis Dombrovskis during U.S and European
WASHINGTON (Reuters) – U.S. and European Union trade and competition officials launched a new forum on Wednesday, joining forces to better compete with China, shield sensitive technologies, boost semiconductor supplies and coordinate regulation of large technology firms.
Senior cabinet officials from both continents pledged https://reut.rs/3upkWnN to cooperate on the screening of investments on export controls for sensitive dual-use technologies and on the development of artificial intelligence (AI).
The council formed 10 working groups that are focused on the following:
* Data Governance and Technology Platforms: The group will exchange information on governance of large technology platforms https://reut.rs/3m7VXSw such as Alphabet (NASDAQ:GOOGL)’s Google, Facebook (NASDAQ:FB), Apple (NASDAQ:AAPL) and Amazon.com Inc (NASDAQ:AMZN) and adopt a more unified approach to regulation of such companies. It will also look to address issues such as harmful content and algorithmic amplification on tech platforms.
* Technology Standards: The group will cooperate on critical areas such as the use and deployment of AI and other emerging technologies.
* Climate and Clean Tech: It will support technology development, transatlantic trade and investment in technologies that do not damage the climate and explore ways to calculate embedded greenhouse gas emissions in global trade.
* Secure Supply Chains: The group will focus on advancing the security of supply in key sectors such as semiconductors, energy, pharmaceuticals, and critical materials.
* Information and Communication Technology and Services (ICTS) Security and Competitiveness: Will secure operations and the supply chain in sensitive and critical areas such as 5G, undersea cables, data centers, and cloud infrastructure.
* Misuse of Technology Threatening Security and Human Rights: The group will combat unlawful surveillance and build ways to effectively respond to internet shutdowns and protect human rights defenders online.
* Export Controls: This will ensure consultations on legislative and regulatory developments and exchange information on risk assessments and licensing good practices.
* Investment Screening: The group will exchange information on investment trends impacting security, especially when it comes to sensitive technology and data.
* Promoting Small- and Medium-sized Enterprises (SME) Access to and Use of Digital Tools: This will ensure access to digital tools and technologies for SMEs in both the United States and European Union.
* Global Trade Challenges: It will avoid new and unnecessary technical barriers in products and services, especially in areas such as emerging technology and promote labor rights.
Source: Investing.com
