ERT Statement on Fifth TTC Ministerial
29 January 2024: Ahead of the fifth ministerial meeting of the EU-US Trade & Technology Council (TTC) on 30 January 2024, ERT calls for continued progress towards delivering a stronger and more resilient transatlantic economy.
The EU-US partnership must continue to be a driving force of the international rules-based system to harness market-driven inclusive growth. In an environment of increasing geopolitical uncertainty, a resilient and strategic transatlantic relationship is more important than ever.
The TTC is a crucial channel for dialogue between the EU and US to address emerging bilateral irritants and advance concrete steps to deepen the transatlantic economy, including devising common approaches in driving the digital and green transitions.
ERT encourages the EU and US to ensure the TTC remains a stable, long-term framework for cooperation.
At the same time, continued momentum is needed to deliver meaningful results on a number of key priorities. These include the following:
• ERT welcomes the progress made in cooperating on EU and US approaches on AI. The upcoming AI Code of Conduct must be aligned with efforts at international level such as the OECD and G7 Hiroshima process.
• The EU and US should continue the work set out in their “6G Outlook” in terms of developing a common vision on 6G and related joint research cooperation. Continued efforts to promote trusted ICT connectivity in third countries are essential to ensure availability of secure and advanced connectivity solutions for developing economies.
• ERT applauds the actions agreed at the EU-US Cyber Dialogue in December 2023 and looks forward to the implementation of strengthened joint efforts to enhance cybersecurity.
• It is paramount to enhance bilateral trade, including by promoting the mutual recognition of conformity assessments in key industries and increasing the use of digital tools in transatlantic trade-related transactions.
• ERT also calls on the EU and US to continue to coordinate closely when developing new export control and investment screening mechanisms.
• In view of the upcoming 13th WTO Ministerial Conference, the EU and US should redouble their efforts to drive the reform of the WTO’s dispute settlement system, ensure continuation of the Moratorium on Customs Duties on Electronic Transmissions, and advance the plurilateral talks on digital trade.
• It is key to further integrate the green transatlantic marketplace and promote regulatory cooperation on green goods and technologies. It is crucial to embrace an open approach to incentivising the green transition in a way that avoids duplication and ensures that the respective incentive programmes are mutually reinforcing.
• ERT continues to encourage the EU and US to deliver a high-standard agreement to better integrate transatlantic critical minerals supply chains.
• It is equally important to permanently resolve the trade dispute over the section 232 tariffs and retaliatory tariffs in the context of the Global Arrangement on Sustainable Steel and Aluminium.