With Beijing’s emergence as a technological superpower, Brussels and Washington hope to maintain close ties. However, the new “Trade and Technology Commission” coalition is divided-previous efforts have been mixed. When the coronavirus hit, the chip crisis became terrible. As the demand for electronic products soared in the spring of 2020, manufacturers warned that they lacked semiconductors, the key components needed to make devices ranging from smartphones to cars. They have good reasons: In the next few months, shortages forced factories to close assembly lines. Technology companies delayed product launches.

The computer was delivered a few months too late. Fearing the consequences, politicians from Washington, DC to Berlin convened chip-making countries and asked them to help prioritize orders from their countries. But there is only so much they can do: chips are made by a few companies, and they are notoriously difficult to produce. And everyone is not enough. After a year and a half, shortages still exist-for example, reduced production of new cars. This is why when senior US and EU officials hold the first meeting of the “EU-US Trade and Technology Committee” in Pittsburgh on Wednesday, manufacturing more chips in Europe and the US will be an important part of the agenda. “We pledge to establish a US-Europe partnership Relationship…design and produce the most powerful and resource-efficient semiconductors,” the White House said in a statement.

Other TTC discussions will be about proposing principles of artificial intelligence technology; how to improve cybersecurity in an increasingly unstable digital world; and how to promote joint technology standards on the international stage.

The meeting will be hosted by Margaret Vestag, Executive Vice-Chairman of the EU Digital Chief Commission, and Trade Commissioner Valdis Dombrovskis, as well as Secretary of State Anthony Brinken and Secretary of Commerce Gina Raymond Dowa Trade Representative Catherine Tai co-chaired. Based on conversations with US and EU officials involved in the preparation of the TTC meeting, policy makers on both sides of the Atlantic are eye-opening, explaining how important access to technology is to maintaining geopolitical dominance. The meeting is confidential.

News Source : Backtrack