LULEÅ, SWEDEN - At the conclusion of the U.S.-EU Trade and Technology Council’s 4th Ministerial held today in Luleå, Sweden, U.S. Chamber of Commerce Senior Vice President for European Affairs Marjorie Chorlins issued the following statement:
“The U.S. Chamber was pleased to take part in these critical discussions to address emerging technologies, supply chain resiliency, the energy transition, and the lightning-speed evolution of generative AI technology. On all these fronts, transatlantic collaboration is needed.
“This week’s dialogue underscored the imperative for governments to engage effectively with business on realistic rules that facilitate, not impede, the innovation needed to lead on all these issues. To that end, the U.S. business community welcomes the extension of our mutual recognition agreement on pharmaceuticals to cover veterinary products, among other deliverables.
“However, further action is needed, starting with the urgent task of finalizing and implementing the EU-U.S. Data Privacy Framework to keep our economies connected. We must also turn thoughts into actions when it comes to addressing the challenges posed by non-market economies, such as unfair subsidies and intellectual property theft. Further, we encourage a robust dialogue between governments, involving stakeholders, to avoid U.S. or European industrial policies that ultimately will only serve non-market economies and their national champions.
“Transatlantic collaboration will help ensure the U.S. and EU remain at the cutting edge of research and innovation. Divergent approaches to artificial intelligence or technologies that facilitate the energy transition will only hinder our ability to compete globally.
“The Chamber looks forward to continuing to support the work of the Trade and Technology Council and to working with both sides to ensure it produces tangible outcomes to enhance our shared economic competitiveness.”