Debate: The outcome of the EU-US Trade and Technology Council
Date: THURSDAY, 11 NOVEMBER 2021
Speaker: Margrethe Vestager
Language: EN

Our digital partnership with the US plays an important role in enabling us to deliver on what we have set up for this digital decade. We have an opportunity to set a vision for a democratic and human-centred digital transformation, both at home and obviously also around the world. And following the successful first meeting in Pittsburgh on 29 September, I think it is clear that the TTC has a huge potential. We spent one and a half days together with US Secretary of State Antony Blinken, US Secretary of Commerce Gina Raimondo and US Trade Representative Katherine Tai. We had positive, frank, direct discussions. We do not always agree on every topic, but I think that shows that we are not just a talking shop: we aim for concrete deliverables for making progress on the issues at stake.  Now the TTC will focus on the actions identified in the joint statements, where the 10 working groups have been given specific tasks. Valdis has taken you through a number of these very important points. So let me just briefly touch upon three areas of particular importance when it comes to the technology side of the Trade and Technology Council.  First, on artificial intelligence, we agreed in Pittsburgh to develop trustworthy AI to oppose the use of AI that violates fundamental rights. To achieve this, we will develop mutual principles, concrete implementation tools and also value-based innovation projects. And I think this outcome shows that there is no transatlantic contradiction between promoting innovation and protecting our fundamental values.  Second, on semiconductors, we will work on rebalancing global supply chains with a view to enhancing security of supply, both for the US and, of course, the European Union. We will, as a first step, jointly identify gaps and vulnerabilities behind the current chip shortage, sharing our assessment of information collected from industry. As the next step, we will discuss how to cooperate in our respective investment strategies. We both want to strengthen our domestic capacities while sharing the aim of avoiding a harmful and expensive subsidy race. We need to diversify our sources of supply to avoid single points of failure, ensuring that we can rely on them also in times of crisis. I think that is a very important lesson that we all learned from the pandemic.  Last, on platforms, the Pittsburgh statement shows that we have built consensus on a set of common challenges, but also shared concerns. These concerns have even been, I think, more relevant after the testimony of Frances Haugen in this House earlier this week. As a first step, we will work with the US on urgent topics such as algorithmic amplification, transparency and data access to platforms by researchers. Both sides have committed to robust and continuous engagement with a broad range of stakeholders, including civil society, to ensure that there is sufficient buy-in, ownership, so the outcomes of the cooperation will have real effects on ground. For this to be successful, it requires the close involvement of the European Parliament, and as Valdis just said, we really welcome the strong support for the TTC, also shown by the visit of several committees to Washington DC last week. As Valdis said, next spring in Europe, the venue and the date have not been set yet, but it will be here within the Union. And of course we hope to keep our engagement with this House ahead of this meeting.