Brussels (EFE) – The European Union (EU) and the United States will discuss opportunities and challenges artificial intelligence (AI) and how to advance sustainable trade measures during the new edition of the Trade and Technology Council (TTC), a ministerial-level forum held on Tuesday and Wednesday in the Swedish city of Lulea (northeast).
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This platform was launched at the EU-EU summit in June 2021 for both sides to coordinate approaches to key global trade, economic and technology issues and help deepen transatlantic trade and economic relations based on shared values.
Executive Vice Presidents European Comission Margrethe Vestager and Valdis Dombrovskis and European Internal Market Commissioner Thierry Breton, as well as US Trade Representative Katherine Tai; Secretary of State, Antony Blinken, and Secretary of Commerce, Gina Raimondo.
In parallel with the TTC, other events will be held, such as the trade and labor dialogue on the 31st, in which businessmen and social actors from both sides of the Atlantic will participate.
At the end of the meeting, a joint statement will be issued with its results, and in the trade section, community sources said they hope to produce “tangible results”.
For example, “giving substance” to the transatlantic initiative on sustainable trade promoted at the last session of the TTC, which took place last December in Maryland (USA).
There will be words about attachment to the joint statement in which about fifteen points will be determined on the contribution that trade can make to the ecological transition, they specified.
The EU also foresees “very concrete” results in digital trade as it continues to work on conformity assessment, trade protection through export and investment controls or the fight against economic coercion and non-trade practices.
Regarding export control and investment supervisioncommunity sources explained that over the past two years, exchanges with the US on how these checks are carried out have increased to “take into account the concerns of both sides”.
Work that is closely connected, they admitted, with the Russian war of aggression in Ukraine.
As for the technological part of the Council, the work between the two sides is essentially focused on three areas: cooperation in new technologies, connectivity and digital infrastructure, and the defense of human rights and values, community sources emphasized.
In Maryland, the two sides agreed on a plan for assessment and measurement tools for trusted AI and its risk management, and now they come to this new meeting in the process of implementing it, with discussions on terminology, cooperation on standards, and how to monitor and measure existing ones and new risks of this technology.
Namely, they will hold a special session of Fr generative artificial intelligence, You can create a wide variety of data, such as images, videos, audio, text or 3D models, with companies working on their development and representatives of the academic world and civil society.
Standardization of new technologies and disinformation and interference by third countries, especially Russia, will be other issues on the agenda of the Council.
On the other hand, the EU and the US are also talking about how it affects Inflation Reduction Act (IRA) American, which provides multimillion-dollar aid for green production on American soil, to European companies that feel discriminated against by this measure.
In this context, the two sides are discussing a critical minerals agreement that would allow the EU to be treated as a “free trade agreement” partner for the purposes of the IRA’s localization and sourcing requirements for those raw materials used in electric vehicles.
European Comission will “very soon” present a proposal to negotiate this agreement with Washington and will ask member states for approval to do so, according to community sources.
“At TTC, we will expand our work on critical minerals” in two directions, they added: through the agreement on critical minerals itself and, more broadly, by joint work with the EU and the USA in the so-called minerals club globally to counter Chinese power in the area.
Photo: EFE/ MarianA. Montesinos
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