Blinken and Vestager Lead 5th Trade and Technology Council Meeting
A Partnership with First Resort
Secretary Antony J. Blinken warmly welcomed EU representatives, led by Executive Vice President Margrethe Vestager, to Washington for the fifth U.S.-EU Trade and Technology Council (TTC) Ministerial Meeting. Highlighting the significance of the U.S.-EU partnership, Blinken emphasized it as a collaboration built on shared values, interests, and a thriving transatlantic economy.
This meeting underscores a pivotal moment in reinforcing ties between the United States and the European Union, addressing global economic and technological challenges.
Strengthening Economic and Technological Ties
The TTC has proven to be an essential forum for enhancing transatlantic economic cooperation. Past meetings have yielded progress in aligning technology standards, fortifying supply chains, enforcing sanctions against Russia, and addressing non-market practices. The current session aims to further this trajectory, focusing on economic security, emerging technology, and cementing achievements before the upcoming capstone meeting in Belgium.
Addressing Economic Security and Emerging Technologies
A key agenda item is economic security, where both parties recognize the need to de-risk economies and diversify supply chains. This is especially pertinent in the face of authoritarian regimes that could exploit technology against democratic values.
Another critical discussion point is the development of norms and standards for emerging technologies like artificial intelligence (AI). Both Blinken and Vestager expressed optimism about jointly establishing responsible rules for AI and other burgeoning tech fields, highlighting the importance of these efforts in shaping the daily lives of citizens on both sides of the Atlantic.
Building on a Foundation of Trust and Cooperation
Vestager reflected on the TTC’s role in advancing the geopolitical agenda, noting its effectiveness in producing tangible results and fostering a deepened relationship. The established trust and collaboration between U.S. and EU teams have been instrumental in addressing challenges, such as sanctions against Russia and advancements in semiconductor technology.
Looking forward, both leaders expressed enthusiasm for exploring quantum technology together, underscoring the council’s role in bolstering economic security and technological innovation.
Sources: THX News & US Department of State.
