Joint Statement by ERT & BRT on the inaugural EU-U.S. Trade and Technology Council
BRT and ERT urge the United States and EU to strengthen Transatlantic economic ties, achieve results through the EU-U.S. Trade and Technology Council
30 SEPTEMBER 2021, BRUSSELS & WASHINGTON DC: Business Roundtable (BRT) and the European Round Table for Industry (ERT) welcome the inaugural meeting in Pittsburgh of the U.S.-EU Trade and Technology Council (TTC) on 29 September 2021.
Corporate leaders in the BRT and ERT share many of the objectives and priorities outlined in the Pittsburgh Statement and will work together to achieve meaningful results that enhance trade, investment and technology cooperation across the Atlantic.
“The U.S., EU and global economies depend on a strong transatlantic relationship. We urge the United States and the EU to achieve meaningful outcomes in the TTC and through other ongoing negotiations, grounded in our common interests and shared values, that meet global challenges and get results,” said Josh Bolten, President and CEO of Business Roundtable.
Shared Priorities for the Trade and Technology Council
BRT and ERT support the TTC’s focus on deepening trade and economic relations and coordinating approaches to critical global technology, economic and trade issues to benefits citizens on both sides of the Atlantic. We jointly support many of the priorities outlined in the Pittsburgh statement including:
1) Tackling global trade challenges and strengthening supply chain resilience in partnership with industry
2) Working together on emerging technology issues, such as on artificial intelligence (AI) principles and the digital economy
3) Supporting multilateral efforts on export controls and cooperating on investment screening approaches in consultation with stakeholders
4) Committing to regular stakeholder engagement at the Ministers and technical working group levels
The TTC has the potential to also serve as a platform to cooperate on the green and digital transitions. In this way, it can be a vehicle through which the U.S. and EU, partnering with stakeholders, can foster further innovation, better align on climate policies with cross-border effects, enhance technology standards, improve data governance and promote small- and medium-sized enterprises.
We urge adoption of an ambitious agenda that gets results expeditiously through the working groups. The success of the TTC will depend on the speed and scope of tangible results achieved for our citizens and businesses.
Success of the TTC agenda depends on progress and resolution of other transatlantic priorities
Our organisations support the United States and EU continuing to partner on defeating COVID-19 and speeding the safe economic recovery. We are encouraged by the recent decision by the U.S. government to lift travel restrictions for vaccinated foreign travellers that will benefit both our citizens and economies.
We urge both sides to redouble their efforts to resolve the Section 232 steel and aluminium tariffs before retaliatory tariffs increase. This is the best way to prevent further damage that the tariffs and retaliatory tariffs continue to impose on both economies, their businesses and their workers.
We urge the swift conclusion of negotiations to enable transatlantic data flows that are critical to transatlantic relations and our economies.
Finally, we encourage both sides to jointly tackle important reforms to the World Trade Organisation (WTO).
“Through the TTC and broader bilateral efforts, both sides must show that disputes can be resolved, shared purpose can translate into action, and partnership can overcome differences to benefit businesses, communities and people on both sides of the Atlantic.”