Joint US-EU Council to Coordinate Technology Supply Chains • The Register
The EU-US Trade and Technology Council (TTC) meets today in Paris to discuss coordinated approaches to global supply chain issues.
This is only the second meeting of the tax included, whose agenda was prepared in February. This highlighted a number of priorities, including securing supply chains, technological cooperation, coordinating measures to combat distorting practices and approaches to decarbonising trade.
According to a White House pre-briefing for US journalists, the EU and US are set to announce joint approaches on technical discussions with international standards bodies, an early warning system for better predict and deal with potential disruptions to the semiconductor supply chain, and a transatlantic agreement approaches investments in semiconductors aimed at ensuring security of supply.
The latter needs a coordinated approach so that “as Washington and Brussels seek to encourage investment in semiconductors in our respective countries, we do so in a coordinated manner and do not simply encourage a race for subsidies”, said a senior administration official.
The EU and the United States plan to strengthen their semiconductor industries through investments and other policies aimed at encouraging the development of local chip manufacturing to ensure supply and reduce dependence on electricity. respect to components from other parts of the world.
In the United States, the Biden administration is trying to secure $52 billion in funding for the CHIPS Act, which will subsidize companies to build semiconductor manufacturing plants in the United States, among other policies.
The EU has its own European Chip Act, which offers funding and initiatives to stimulate research and development of semiconductors within the EU as well as the construction of new production facilities.
Regarding the early warning system for supply chains, a senior US administration official said he would build on the measures the US had put in place last year, following the leading semiconductor-oriented production sites across Southeast Asia to understand as soon as possible when disruptions would appear.
“It’s really a chance for us to expand this work and multilateralize it with our European partners. I would say that we are monitoring the situation in China very closely, which is clearly impacting a number of supply chains. different, not just on semiconductors,” the official said.
According to the White House briefing, the TTC will also discuss plans for a joint US-EU guide to cybersecurity best practices for small and medium-sized businesses, and a new framework for cooperation to focus on disinformation in line, like the one broadcast by Russia. about the war in Ukraine.
Created last year, the TTC aims to deepen transatlantic relations by coordinating key global concerns. It is described as a forum allowing the two parties to discuss legislative and regulatory changes and to agree on common positions within international bodies or to initiate transatlantic coordination where appropriate.
The TTC currently has 10 working groups covering issues such as green technologies, technology standards cooperation, export controls of sensitive goods and securing supply chains.
It’s not the only international chat room the United States is involved with when it comes to technology. Last year, the Semiconductor Industry Association of America (SIAC) and the China Semiconductor Industry Association (CSIA) launched a working group to resolve technical and business issues between the two countries. ®