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Translated by:Himalaya Oxford Visionary-Billy

From May 15th to 16th, the U.S.-EU Trade and Technology Committee (TTC) held a meeting in Paris to seek to “decouple” from China in key industrial sectors such as solar cells, rare earth, and chips and discussed the shifting key industrial supply chains to democracies such as India.

Image Source: politico

The U.S.-EU Trade and Technology Commission is a platform for the United States and the European Union to resolve differences in bilateral trade and science and technology policies. Last fall, the committee held its first meeting in Pittsburgh, USA. The two sides promised to deepen transatlantic cooperation and strengthen the chip supply chain to curb China’s non-market trade behavior and adopt a unified approach to regulating sizeable global technology companies.

After Russia invaded Ukraine, the committee was considered essential in promoting sanctions against Russia by the Group of Seven and other allies.

Image Source: reuters

This Paris meeting is the second meeting. From the content of the draft joint statement and related news disclosed by several media before the meeting, the United States and the European Union want to deepen cooperation in four aspects to check and balance the authoritarian countries of China and Russia. First, it is to eliminate them from their economic dependence, including eliminating forced labor and increasing supply chain diversification and transparency in the rare earth, solar, and chip industries. The joint statement is expected to be released after the meeting on the 16th.

Reference:
https://gnews.org/post/p2574090/

Edited and proofread by: Latin
Posted by: Peter Chen

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