US and EU officials at the 6th meeting of the EU-US Trade and Technology Council (TTC)
Eurativ reported on April 5 that the US and the European Union (EU) will share with each other market surveys related to the impacts on the semiconductor industry, after officials from both sides concluded the 6th meeting of the EU-US Trade and Technology Council (TTC) in Belgium.
At a press conference after the two-day meeting, US Commerce Secretary Gina Raimondo said the two sides were conducting separate surveys to identify “market distortions” and would share data with each other.
The surveys are expected to be completed by early summer, said Margrethe Vestager, executive vice-president of the European Commission.
The TTC meeting was the last before the European Parliament and US presidential elections. EU commissioners and US State Department representatives faced many questions from the press about the TTC's achievements.
Intel's chip manufacturing division lost $7 billion
The council was established in 2021 but its future is uncertain, with some observers questioning its effectiveness and saying the TTC has made little progress. Former US President Donald Trump’s election in November also makes the TTC’s future uncertain if he is elected, given his propensity for reducing international cooperation.
Meanwhile, TTC announced a series of coordinated efforts, such as a dialogue between the EU AI office and the US AI Safety Institute. In addition, the two sides agreed to extend for three years “administrative arrangements that have worked effectively to identify supply chain disruptions early and ensure transparency of subsidies.”
According to Ms. Vestager, AI cooperation between the two sides is broader in scope than AI cooperation between the US and the UK, because it includes not only testing but also many other related issues.
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