US and EU Officials Pledge to Deepen Transatlantic Economic Relations

Eu Us Trade Meeting
Eu Us Trade Meeting Photo: Francois Lenoir/Reuters

US and EU officials on Wednesday released a joint statement following the inaugural meeting of the US-EU Trade and Technology Council (TCC), pledging to deepen Transatlantic trade and economic relations between the two entities.

“The US-EU Trade and Technology Council met for the first time in Pittsburgh on 29 September 2021… The United States and the European Union reaffirm the TTC’s objectives to: coordinate approaches to key global technology, economic and trade issues; and to deepen Transatlantic trade and economic relations, basing policies on shared democratic values,” the joint statement said.

The meeting, which was held in Pittsburgh, Pennsylvania, was co-chaired by US Secretary of State Antony Blinken, US Commerce Secretary Gina Raimondo, US Trade Representative Katherine Tai, European Commission Executive Vice President Margrethe Vestager and European Commission Executive Vice President Valdis Dombrovskis.

The joint statement said that while the US and EU recognize the positive potential of artificial intelligence (AI), they also realize that the technology could pose a threat to fundamental rights and freedoms. As such, they affirmed in the statement their intention to develop and implement AI in a way that aligns with human rights and shared democratic values.

The TCC established several working groups that cover areas including technology standards, climate and clean tech, data governance, and global trade challenges, according to the joint statement.

In addition to the political leadership co-chairing the TCC, the event also brought together representatives of industry, labor organizations, think tanks, non-profit organizations, environmental constituencies, academics, and other civil society members, a fact sheet released by the White House said.

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