Unpacking the outcomes of the sixth ministerial of the EU-US TTC
Although the US is the “EU’s largest trade and investment partner”, there is no dedicated free trade agreement between the EU and the US (the unsuccessful TTIP negotiations were formally closed in 2019). In 2021, the EU-US Trade and Technology Council was established as a forum to discuss issues and reinforce cooperation in specific, strategic areas.
The EU-US TTC has an impressive number of work streams with 10 different working groups covering 5 “key areas of cooperation” defined at the inaugural meeting. Other mechanisms have since emerged under auspices of the TTC – such as The Transatlantic Initiative on Sustainable Trade (TIST) and the tripartite Transatlantic Trade and Labour Dialogue (TALD). To steer the coordination efforts, there are regular meetings of the TTC at ‘political level’ – the most recent of which has just taken place in Leuven, Belgium.
Back in January, at the conclusion of the fifth TTC ministerial, the EU and US agreed that this sixth ministerial would “ review progress to inform priorities, identify new areas for collaboration, and further deepen the transatlantic partnership on shared priorities.” So, what are the deliverables from the latest round of discussions?
Technology standards, including cooperation on Artificial Intelligence
For AI, the TTC outcome includes an expression of support for other multilateral initiatives - G7, the OECD, G20, Council of Europe, and UN and a promise to ‘make progress’ with the implementation of the TTC Joint Roadmap for Trustworthy AI and Risk Management published back in December 2022.
And as for standards, the TTC outcome document reflects the shared interest in “recognizing mutually compatible technical standards as a way to expand transatlantic approaches for the deployment of critical and emerging technologies that reflect our shared values.” More cooperation is to follow. The Quantum Task Force established back in May 2023 to address “open questions on science and technology cooperation between the European Union and the United States on quantum technologies” also continues its work.
The EU-US TTC has now a “6G Vision” and promise to continue collaboration in the field of 6G and Next Generation Internet technologies through a new (non-legally binding) Administrative Arrangement signed between the U.S. National Science Foundation (NSF) and the Directorate‑ General for Communications Networks, Content and Technology (DG Connect).
Secure supply chains (especially regarding semiconductors)
At the fifth ministerial meeting in January, the EU and the US announced that they are “intensifying their coordination on the availability of critical raw materials crucial for semiconductor production, having activated the joint TTC early warning mechanism for semiconductor supply chain disruptions”.
The outcomes of this sixth meeting focus on extending the application of the administrative arrangements that have been put in place already – one being the early warning mechanism and the other a “transparency mechanism for reciprocal sharing of information about public support provided to the semiconductor sector.” On the table is also a commitment to look into using materials other than “forever chemicals” – PFAS – to produce chips. The use of PFAS has been increasingly debated on both sides of the Atlantic as an issue of environmental concern.
For sustainable supply chains more generally, the outcome document includes a commitment to cooperate on solar – a commitment that also featured in the 2022 outcome document from the second meeting of the TTC. Relations with China also gets a mention - including practices in the medical devices sector.
Critical Raw materials
And what about critical raw materials? “Close collaboration on diversifying global critical minerals supply chains” is affirmed – and a Mineral Security Partnership (MSP) Forum is launched alongside other Minerals Security Partnership (MSP) partners, joined by Kazakhstan, Namibia, Ukraine, and Uzbekistan. The Critical Raw Materials Club announced by the European Commission now becomes a full part of the MSP Forum.
But a “Critical Minerals Agreement” between the EU and the US is … work in progress.
Sustainability
Alongside the continued work on the TIST, the outcome document identifies the aim of creating a “transatlantic green marketplace” – and the report of a stakeholder initiative that took place in the margins of the previous TTC is now available here. It includes a thematic summary of stakeholder suggestions - and is definitely worth a read.
This TTC meeting announces the launch of a “Joint EU-US Catalogue of Best Practices on Green Public Procurement”. The EU’s own GPP Criteria are available here.
This ministerial was also the occasion for a third meeting of the tripartite TALD which focused on the green transition. Forced labour remains a topic on the agenda for both sides.
Global trade challenges
The outcome statement reaffirms that EU-US continues to be the “bedrock” for dealing with global challenges, including geopolitics, the digital transformation and transition to climate-neutral economies. The outcome document also addresses specific concerns over information integrity and foreign manipulation of information. More discussions on how to reinforce ICT infrastructure are in the pipeline – and “could include trans-oceanic routes, including through the Arctic and Pacific regions.”
So what comes next?
According to the outcome document:
“As the European Union and the United States enter their respective electoral processes, the work we do under the TTC will remain relevant, strategic, and timely, while allowing for the necessary flexibility to adapt to changing circumstances.
Building on the lessons learnt from our cooperation so far, we intend to use the remainder of 2024 to engage with European Union and United States stakeholders to learn their views on the future of the TTC.”
Watch this space.
