EC: A Trump Reelection Shouldn't Affect EU-US Trade and Technology Talks
The EU-U.S. Trade and Technology Council likely will continue if former President Donald Trump is reelected, European Commission officials said at a briefing April 3. The sixth TTC meeting takes place April 4-5 in Leuven, Belgium. It's the last of this political cycle, given U.S. and European elections later in the year. The EC doesn't expect too much disruption of its work, which includes deliverables on 6G, platforms, standardization, artificial intelligence and quantum computing, officials said.
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In response to our question about how the TTC can future-proof itself in the face of a possible second Trump presidency, one official cautioned against making too many projections on election results now. The EC believes a "critical mass" of activities has already taken place in the working groups, showing how important these issues are for both sides.
Regardless of the political situation, the official added, in the technology market, if a country wants to be serious about AI, semiconductor chips and other matters, it would be "foolish" to think it can do it on its own. In fact, he said, the very concept of the TTC was attributed to Trump, who called for talks on trade and technology.
Asked whether there's anything in particular the TTC could do if this turns out to be its final meeting, a second official said the council has shown a good deal of scope for cooperation, something that's politically attractive to both sides and is underpinned by the massive trans-Atlantic trade relationship. A third official noted the EC is setting up a structured process to prepare for the outcome of the U.S. presidential election. This meeting will take stock of what has already been agreed on and discuss what will be done before the elections, officials said.
The TTC already has achieved a great deal, such as helping to coordinate trans-Atlantic positions on responding to Russia's attack on Ukraine and in creating a relationship for cooperation in the green marketplace, they said. The TTC will discuss a sustainable and resilient trans-Atlantic marketplace, which will result in a joint declaration on electronic invoicing and an agreement to continue working on digital tools to simplify the relationship; economic security issues such as investment screening and outbound investment; secure and resilient supply chains; and trade and labor issues. The council is also focused on critical materials and will launch a minerals security forum after the meeting.
There will be a joint statement on what the TTC has achieved and what its next steps are. "As long-time allies and close trading partners, the EU and the U.S. have the chance to set the tone for the next mandate of each partner, making it the 'mandate of cooperation,'" the Computer and Communications Industry Association said separately. However, it added, the time for the council to serve as a meaningful venue to address ongoing burdens U.S. suppliers face in the EU market "is running out."