🇪🇺🇺🇸 The EU-US Trade and Technology Council just concluded. It has moved from agenda-setting (Pittsburgh) to policy-setting (Paris). My main takeaways🧵1/4
Supply chain resilience is the biggest single global issue post-COVID and amid Russia’s aggression against Ukraine.
The #TTC has set up an early warning mechanism on semiconductors to be better prepared for supply disruptions.
Trade must flow for our economies to succeed. 2/4
Increased transatlantic trade and investment is a key priority under the #TTC. Ministers agreed today to work even closer on public procurement, conformity assessment, and avoiding potential trade barriers.
Open trade is critical for economic resilience for both sides. 3/4
The #TTC Ministerial agreed to launch a Trade and Labour dialogue and closer cooperation on green procurement.
Closer trade connections also help our work to advance on global sustainability issues. 4/4
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I disagree with the assertion, and I ask myself against what benchmark the EU is measured here. The EU’s 2019 China Communication sets out a comprehensive strategy that treats China simultaneously as a negotiating partner, an ec competitor and a systemic rival. 1/5
This captures the complexity of China and of our relationship with Beijing. We share the same planet, without engaging China in the rules-based system, whether on climate or trade, we will not be able to address the global challenges we face. 2/5
At the same time, we work 4 an alliance of democracies 2 address the systemic challenges 🇨🇳 raises (cf EU offer 2 US) + autonomous tools 2 protect ourselves +promote our values - eg FDI screening, 5G toolbox, export controls, HR sanctions instrument, work on disinformation 3/5
„We urge all G20 members 2 work twds commitments 2 remove restrictive measures on imports + set moratorium on new unilat. tariffs; 2 eliminate all tariffs on COVID-19 related products; to encourage manufacturers to increase capacity for producing equipment to fight COVID19“
„Avoiding unnecessary disruption of supply chains is essential, esp. (...) 4 critical medical + protective equipment. (...)any emergency measures should be targeted, proportionate, transparent + temporary, as is the case with the export auth. measures in the EU.“
„Refrain from the introduction of export restrictions or other distortive measures in the agri-food sector. There is no global supply shortage at this time and such measures are completely unjustified.“