U.S. and EU create a trade and technology advice to counter the Russian Federation and China

The Council will have to strengthen supply chains between the EU and the United States and prevent obstacles to trade between them.

U.S. and EU create a trade and technology advice to counter the Russian Federation and China

According to the League, the executive vice-president of the European Commission Margret Vestier stated in the comments WSJ that the United States and the European Union create a trade and technology advice, which should stimulate investments and develop innovation among allies, as well as counteract Russia and China in developing and protecting Critically important and newest technologies.

“The coronavirus pandemic revealed weak points in the production bases of the Western economies, which led to a lack of vital goods from medical masks to microchip. The first meeting is planned to be held in autumn and it will oversee the work of many working groups, which will allow the EU and the US to focus on cooperation. Both sides stressed that they will retain regulatory autonomy within their respective legal systems”, – the publication notes.

In addition, it is reported that the Council will have to strengthen the supply chains between the EU and the United States and prevent obstacles to trade between them. His US Co-Chairs will be the Secretary of State Anthony Blinken, Minister of Commerce Gina Raymondo and the US Sales Representative Catherine Tai. From the EU, the co-chairs will be Westger, which is the chief representative of the EU in the field of competition and digital politics, as well as the EU Executive Vice-President on Valdis Dombrovskis.

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