USA-EU Trade Council: “Our interests are the same right now”

After the last serious resentment, the USA and the EU founded a trade and technology council. Among other things, this involves the supply of semiconductors and a common stance on China.

US flags and European flags flutter next to each other in the wind, which has not been seen for a long time. In addition, the low sun paints a kind of alpine glow on the rusty steel girders. It is an atmospheric end to an eventful day.

At the same time, US Secretary of State Antony Blinken said at the closing photo at the Mill 19 technology center in Pittsburgh that he felt extremely charged and enthusiastic about the possibilities that the US and the EU have in common. And our colleagues from the European Union did not lag behind: This trade and technology council opens a new chapter in the cooperation between the USA and the EU, said EU Trade Commissioner Valdis Dombrovskis.

Of course it wasn’t. The founding of the new council had stood on the brink after US President Joe Biden – past France – had concluded a submarine deal with Australia. Now the Europeans in particular were spreading a good mood because of the results.

Important topics: China and semiconductors

A reliable supply of semiconductors was right at the top of the agenda. In discussions with manufacturers and customers, the EU and USA want to research the gaps and weaknesses, expand their domestic research and development and make supply chains more resilient. “We see this as an area for very fruitful cooperation because our interests and problems are currently the same,” said US Secretary of Commerce Gina Raimondo.

One of the big issues is developing common strategies to counter practices that are contrary to the market. This means – without the name appearing – China. The USA’s great rival, against whom the partners want to assert themselves in trade, competition and technology development. Artificial intelligence, export controls and the screening of foreign investments are other areas in which the EU and USA are convinced that they can now move forward together.

Knowledge transfer between Europe and the USA

It was no accident that the meeting took place in Pittsburgh. The former “Steel City” of Pennsylvania has left coal and steel behind; Robots and self-driving cars are now a big issue. Sean Luther from Innovate PHG markets Pittsburgh as the city of the future and warns against always looking at Silicon Valley.

The truth is that cities like Pittsburgh on both continents can make the EU and the US competitive in the 21st century. And he thinks, says Luther, Pittsburgh is a good place to build networks for such smaller cities. Luther cites Manchester in Great Britain and Baden-Württemberg in Germany as examples of cooperation partners such as Pittsburgh is looking for.

Another type of knowledge transfer is operated by a major German city with a past similar to Pittsburgh: Dortmund, or more precisely the city’s soccer club. BVB is building a football academy in the area. German expertise is evidently needed to promote young talent in soccer.