The United States and the European Union will announce a new joint technology and trade initiative to craft new rules on trade to counter China’s rising influence.
The United States and Europe will announce a new new joint venture of technology and trade on Tuesday, as part of a broader effort to reach this week by President Joe Biden to bring together European partners and challenge China's growing challenge.
U.S. Trade and Technology Council It will have three main objectives: To establish new world trade standards for emerging technologies; promoting the values of democracy online; and to find ways for the United States and the EU to co-operate in conducting research and development.
The result will be that "democracy and no one else, not China or any other independent state, drafted trade and technology laws in the 21st century," national security adviser Jake Sullivan told a news conference last week.
On the US side, the trade council will be co-hosted by Secretary of State Antony Blinken, Business Secretary Gina Raimondo and US Ambassador for Trade Katherine Tai Tai, a Biden official told reporters and requested anonymity to discuss the ongoing talks. .
Other council objectives include:
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Over the past decade, China has made significant public investment in its technology sector. The result is a digital economy and a government-controlled internet that reflects its political values: Individual bans are widespread, external websites are blocked if they refuse to process sensitive topics, and private company software can be held to meet state requirements.
China is equally aggressive in protecting its domestic markets, especially by demanding foreign companies that want to work in China to partner with local Chinese companies and convert written goods.
"Dealing with China's non-market practices, its economic abuses and its efforts to create traffic laws in the 21st century will be an important part of the Council's work," said a White House official.
The new trade and technology council is the latest attempt by Biden management to harness the combined economic power of the US and Europe to better compete with China.
On Saturday, Biden and G-7 announced the launch of a global infrastructure campaign called “Build Back Better for the World.” The multi-billion dollar project will provide an alternative “high-end” alternative to China’s Belt and Road infrastructure project.
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Another pressing issue between the EU and the United States that will not be resolved during Tuesday's summits is the end of a punitive sanction imposed by former President Donald Trump on steel and aluminum in 2018.
Trump cited "national security" as a reason for tax rates, but European officials believe that security, not national security, was behind the tax.
Biden demonstrated his determination to raise taxes on steel and aluminum and in May trade talks between the two sides began talks that could resolve the issue by the end of the year.
“Those discussions are ongoing. They were building a lot, but it will take time, ”said a senior official from Biden. "So I don't expect you to see the result this week" on tax rates.
After EU meetings on Tuesday Biden will travel to Geneva, where he is expected to hold a much-anticipated summit on Wednesday with Russian President Vladimir Putin.
U.S. Trade and Technology Council It will have three main objectives: To establish new world trade standards for emerging technologies; promoting the values of democracy online; and to find ways for the United States and the EU to co-operate in conducting research and development.
The result will be that "democracy and no one else, not China or any other independent state, drafted trade and technology laws in the 21st century," national security adviser Jake Sullivan told a news conference last week.
On the US side, the trade council will be co-hosted by Secretary of State Antony Blinken, Business Secretary Gina Raimondo and US Ambassador for Trade Katherine Tai Tai, a Biden official told reporters and requested anonymity to discuss the ongoing talks. .
Other council objectives include:
- Integrating standards in new technologies such as artificial intelligence, quantum computing and biotechnology.
- Making supply chains very strong and highly dependent on China.
- Pursuing reforms in the World Trade Organization.
- Coordinate the management of technical platforms.
Over the past decade, China has made significant public investment in its technology sector. The result is a digital economy and a government-controlled internet that reflects its political values: Individual bans are widespread, external websites are blocked if they refuse to process sensitive topics, and private company software can be held to meet state requirements.
China is equally aggressive in protecting its domestic markets, especially by demanding foreign companies that want to work in China to partner with local Chinese companies and convert written goods.
"Dealing with China's non-market practices, its economic abuses and its efforts to create traffic laws in the 21st century will be an important part of the Council's work," said a White House official.
The new trade and technology council is the latest attempt by Biden management to harness the combined economic power of the US and Europe to better compete with China.
On Saturday, Biden and G-7 announced the launch of a global infrastructure campaign called “Build Back Better for the World.” The multi-billion dollar project will provide an alternative “high-end” alternative to China’s Belt and Road infrastructure project.
Another pressing issue between the EU and the United States that will not be resolved during Tuesday's summits is the end of a punitive sanction imposed by former President Donald Trump on steel and aluminum in 2018.
Trump cited "national security" as a reason for tax rates, but European officials believe that security, not national security, was behind the tax.
Biden demonstrated his determination to raise taxes on steel and aluminum and in May trade talks between the two sides began talks that could resolve the issue by the end of the year.
“Those discussions are ongoing. They were building a lot, but it will take time, ”said a senior official from Biden. "So I don't expect you to see the result this week" on tax rates.
After EU meetings on Tuesday Biden will travel to Geneva, where he is expected to hold a much-anticipated summit on Wednesday with Russian President Vladimir Putin.
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