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EU & US hold first meeting for TTC

One 29 September, the inaugural meeting of the EU - US Trade and Technology Council (TTC) was held in Pittsburgh, Pennsylvania.

The TTC was launched at the EU-US Summit in June and aims to serve as a forum for the EU and US to coordinate approaches to key global trade, economic, and technology issues and to deepen transatlantic relations.

The TTC’s working groups will tackle a diverse set of challenges, including cooperation on technology standards, supply chain security, climate and green technology, and export controls.

Following the TTC, the EU and US published a joint statement highlighting the key points of the inaugural meeting.

The EU and the US reaffirmed the TTC's objectives and stressed their commitment to collaborate in promoting shared economic growth that benefits both sides of the Atlantic. In reference to the working groups established, working groups 3 and 10 are particularly relevant to CRMs:

  • Working Group 3 - Supply Chains is tasked to focus on advancing respective supply chain resilience and security of supply in key sectors for the green and digital transition. Specifically, a first focus will be on clean energy, pharmaceuticals, and critical materials. The working group is tasked to seek to (i) increase transparency of supply and demand, (ii) map respective existing sectoral capabilities, (iii) exchange information on policy measures and research and development priorities, and (iv) cooperate on strategies to promote supply chain resilience and diversification.

  • Working Group 10 - Global Trade Challenges is tasked to focus on challenges from non-market economic policies and practices, avoiding new and unnecessary technical barriers in products and services of emerging technology, promoting and protecting labour rights and decent work, and, following further consultations, trade and environment issues.

The European Union and the United States welcome input from and dialogue with business, trade unions, consumer organizations, and environmental and other non-government organizations on the work of the Global Trade Challenges Working Group, including joint input from transatlantic groupings of stakeholders.

To read the full statement, click here.


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