ERT optimistic for progress in third EU and U.S. TTC meeting
In advance of today’s Trade & Technology Council (TTC) meeting in Washington DC, European business leaders expresses their support for its objectives and faith in the ability of the TTC to deliver progress.
The European Round Table for Industry (ERT), which counts CEOs and Chairs of some of Europe’s most significant industrial and technology companies among its Membership, has long been recognised as an important high-level forum. With its cross-sectoral Membership leading 60 of Europe’s largest companies, ERT focuses on major themes such as competitiveness & innovation, energy transition & climate change, trade & market access, digital transformation, jobs & skills and more.
In light of the reactions to the recently announced U.S. Inflation Reduction Act (IRA), ERT is calling for a negotiated solution that addresses the EU’s concerns, especially those provisions that are discriminatory towards non-US companies.
On this basis, ERT’s recommendations for the TTC follow four overarching priorities:
1. Safeguarding the international order based on the rule of law, multilateral institutions and free trade
2. Securing ambitions for global digital leadership
3. Accelerating joint actions on energy and climate
4. Strengthening transatlantic cooperation to foster resilience of supply chains
Companies led by the Members of ERT are global, with many having significant operations on both sides of the Atlantic. In this respect, the membership of ERT reflects the significance of the transatlantic relationship. The transatlantic economy is the largest and wealthiest market in the world and the U.S. and Europe remain each other’s most important geo-economic partners.
In an increasingly challenging global environment, a resilient and strong transatlantic relationship is more important than ever. From the outset, we at ERT have recognised the TTC as the primary channel for the EU and U.S. to jointly pursue their future trade, economic and technology leadership objectives. While many things seem to be in a state of flux, dialogue is vital to maintaining this important relationship and building renewed cooperation and we hope that today's meeting will ease some of the recent tensions.