US announces tech council for creation of new trade rules

US announces tech council for creation of new trade rules

The European Union and the United States are all set to announce a trade and technology initiative to counter China’s rising influence. The joint council will also devise new standards for emerging technologies.

The goals of this initiative

Europe and the U.S. are ready to announce a collective trade and technology initiative, which is part of President Joe Biden’s efforts to gain European allies and challenge China’s influence.

The E.U.- U.S. Council for Trade and Technology has three primary goals:

  1. The establishment of new global standards for emerging technology and trade.
  2. The promotion of democratic values on the web
  3. Finding ways for the European Union and the United States to collaborate on development and technological research.

Other objectives are:

  • The pursuit of reforms with the World Trade Organization
  • Making supply chains less dependent so that they do not rely on China
  • Coordinating the regulation of tech platforms
  • Coordinating the standards applied to new technologies such as biotechnology, quantum computing, and artificial intelligence.

The expected result of this initiative

Jake Sullivan, a national security advisor, said at a press conference that the expected result would be that “democracies, not China or other autocracies, write the rules for trade and technology for the 21st century.”

Why are rhe E.U. and U.S. so determined?

China has, over the last decade, made humungous public investments into its technology sector. This has resulted in the internet and digital economy controlled by China, reflecting its political values.

There is widespread individual censorship, meaning foreign websites get blocked if they do not censors topics considered sensitive. This also means China can seize software from the private sector if it serves their interests.