A new transatlantic brainstorming opportunity may help to flesh out some of the contours of how national economies will deal with new technologies, both in terms of domestic production and geopolitical strategy.
Today, involved parties announce the beginning of a joint Technology Competition Policy Dialogue between the U.S. and the European Union.
“The European Commission and the US competition authorities have a longstanding tradition of cooperation in competition policy and enforcement,” said European Commission Executive Vice-President Margrethe Vestager in a press statement. “Today, with the launch of the EU-US Joint Technology Competition Policy Dialogue, we reinforce this cooperation with a particular attention to the fast evolving technology sector.”
European Commission President Ursula von der Leyen and President Joe Biden of the United States first launched a EU-US Trade and Technology Council in June of this year. Experts describe it as a forum for the United States and European Union to figure out how to address issues in “global trade, economic, and technology issues.”
In addition to the US/EU TCPD, the EU also proceeded today with another initiative aimed at international relations.
“The European Union moved Wednesday to set up a system of quick-fire trade sanctions that it could impose on any foreign power, like China, that it accuses of trying to coerce the 27-country bloc for economic or political gain,” reports Lorne Cook with the Associated Press. “The EU’s executive branch, the European Commission, manages trade with the outside world on behalf of member nations. It’s seeking their permission to react without needing the endorsement of all 27 when any person, company or country tries to strong-arm the bloc. It could face pushback from some EU countries against giving the commission too much power.”
Cook outlines how deteriorating relationships between China and Lithuania over ties to Taiwan are just one example of relevant international tensions.
Look for more as nations grapple with issues of geopolitical diplomacy and technology.
