Digital industry urges the EU-US Trade & Technology Council to deliver

Today, DIGITALEUROPE published a proposal of 24 targets for the EU-US Trade & Technology Council (TTC) urging the EU and the US administration to deliver on the promising goals set in June 2021.

Following the publication of the new EU standardization strategy yesterday, and on the first anniversary of the Biden administration, it is time to reignite the transatlantic relationship and deliver concrete actions before the European and US Presidential elections in 2024.

Almost ten years later, the failure of the Transatlantic Trade and Investment Partnership (TTIP) is still fresh in our minds. We cannot afford to miss out on the opportunities of the EU-US Trade & Technology Council (TTC).

Cecilia Bonefeld-Dahl, Director-General of DIGITALEUROPE, said:

“The EU and US make up more than 40% of global GDP. What we do together matters.  The time has come for the two powerhouses to find concrete solutions to boost their technological strengths and collaborate on setting the governance of the Digital Decade. The window of opportunity is closing. We are glad to learn that the TTC will meet both virtually in March and in person in May, we must keep up the positive momentum and combine talks with concrete actions. Let’s avoid another situation like the failed EU-US trade agreement, TTIP.

In a world of geopolitical tensions, a transatlantic collaboration on emerging and disruption technologies and not least cyber security is key. The private sector is the place where these are developed in this digital decade. Whether it is cooperation on semiconductors, aligning on standards for artificial intelligence or developing a common rulebook for the cloud, there is huge potential for the TTC to create real benefits to citizens. We also urge both the EU and US to set high targets for the adoption of digital technologies in society to support inclusion and reduce our emissions. The US is leading on investment and EU has taken the lead on concrete KPIs with the digital compass. Together we can push each other forward.”

Digital industry sends their concrete ideas for targets

By the next TTC meeting, foreseen in May, DIGITALEUROPE urges the EU and the US administration to set the following targets, to be achieved by 2024:

• Develop a joint Cloud Rulebook, to ensure we have common rules for data storage, security and privacy.
• Lead the way on promoting digital inclusion:
  • Retrain 20% of our workforces with digital skills;
  • Hit a target of 50% of SMEs using big data analytics;
  • Ensure that at least 30% of ICT specialists are women.
• Develop common principles for a safer internet drawn from EU and US legal frameworks.
• Establish a Transatlantic Green Technology Alliance and a joint approach to sustainable procurement.
• Set joint standards for artificial intelligence and cybersecurity, and advance cooperation in international standard setting.
• Launchfour major commonly funded EU-US semiconductor R&D projects by 2030.

The EU-US Trade and Technology Council can make a difference

The EU-US Trade and Technology Council can fuel a transatlantic cooperation reboot, if we manage to avoid the pitfalls of previous bilateral and multilateral negotiations.

A stronger cooperation on cybersecurity, from cloud to connected devices, will allow data to flow more securely across the Atlantic, to the benefit of consumers and medical research. A better alignment around competition policies has the potential to offer consumers – on both sides – a better choice of digital services. A stronger cooperation around semiconductors can curb the disruption of global supply chains.   

To equip the TTC with a clear roadmap, DIGITALEUROPE’s new publication Becoming tech allies offers both ambitious and achievable digital targets for 2024, and short-term success indicators for each TTC Working Groups, to be achieved over both an immediate timeframe, (coinciding with the second TTC meeting in May), and a slightly longer one (up to one year).

Additional information

• Total US investment in the EU is three times higher than in all of Asia.
• EU investment in the US is around eight times the amount of EU investment in India and China together.
• EU and US investments are a major driver of the transatlantic relationship, contributing to growth and jobs on both sides of the Atlantic. A third of this transatlantic trade comprises intra-company transfers.
• The transatlantic relationship defines the shape of the overall global economy. For most countries, either the EU or the US is the largest trade and investment partner.
• Together, the EU and the US economies account for about half of world GDP and for nearly a third of world trade flows.

Source: European Commission