Global RiskNews Briefs

U.S., EU Forge Closer Ties on Emerging Technologies to Counter Russia and China

The U.S. and European Union will cooperate more on technology regulation, bilateral trade and industrial development after President Biden’s visit. The Western allies are hoping to better compete with China and Russia in developing and protecting emerging technologies. A new high-level Trade and Technology Council was unveiled on Tuesday. The TTC will boost innovation and investment in the two economies and strengthen supply chains. 

The TTC will be co-chaired on the U.S. side  by Secretary of State Antony Blinken, Commerce Secretary Gina Raimondo and Trade Representative Katherine Tai. The EU side will be co-chaired by Executive Vice President Valdis Dombrovskis and Ms. Vestager, the bloc’s top competition and digital-policy official. The first meeting is scheduled for the fall and the two sides will focus on cooperation while maintaining regulatory autonomy in their respective legal systems.

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