U.S., EU launch consultations on tech regulations, chips, China trade

PITTSBURGH/WASHINGTON, Sept 29 (Reuters) – U.S. and European Union trade and competition officials launched a new forum on Wednesday joining forces to better compete with China, shield sensitive technologies, boost semiconductor supplies and coordinate regulation of large technology firms.

The U.S.-EU Trade and Technology Council opened its first meeting in a former steel mill building in southeast Pittsburgh that has been repurposed as a research and development center for artificial intelligence (AI), robotics and advanced manufacturing.

Principal participants are U.S. Secretary of State Antony Blinken; Commerce Secretary Gina Raimondo; U.S. Trade Representative Katherine Tai; EU trade chief Valdis Dombrovskis; and European Commissioner for Competition Margrethe Vestager. A joint statement is expected to be issued on Wednesday afternoon.

The meeting was nearly derailed by French anger over a U.S. decision this month to supply Australia with nuclear submarines, which prompted Canberra to scrap a $40 billion submarine contract with France.

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Source: Reuters