The American Chamber of Commerce on Wednesday urged the United States and the European Union to quickly resolve their disputes over steel and aluminum tariffs and aircraft subsidies, and to adopt a new shield to protect the privacy to better coordinate digital policy.
America’s largest business lobby group spelled out its recommendations in a four-page memorandum sent to U.S. officials as President Joe Biden embarked on his maiden trip abroad, an eight-day mission to rebuild strained transatlantic ties during the Trump era and reframe relationships. with Russia.
U.S. and European officials are expected to launch a new trade and technology council at the summit that will set compatible standards and facilitate commerce in areas such as artificial intelligence and data flows, according to U.S. and European sources.
In its note, which was seen by Reuters, the chamber said Biden’s summit with EU leaders on June 15 was the right opportunity to launch such a platform and align with common priorities. clear.
This, he said, could help advance economic recovery “by removing existing barriers to transatlantic trade, preventing new barriers and establishing joint approaches on core and emerging technologies.”
Closer cooperation would allow the two sides to craft more coordinated and effective responses to “countries that fail to adhere to global trade rules and standards and pose significant threats to our security and values,” an apparent reference to Russia and to China.
EU trade chief Valdis Dombrovskis told reporters on Wednesday that Brussels hoped the visit would help end trade disputes swiftly and foster better relations.
U.S. and EU officials will pledge to end the nearly 17-year-long dispute over subsidies to aircraft manufacturers Airbus SE and Boeing Co. by July 11, while setting a December 1 deadline to end the punitive tariffs linked to a trade dispute over steel and aluminum, according to a draft press release.
The Chamber said the two sides should also agree to a new US-EU privacy shield to facilitate better coordination of digital policies, a vital step needed to “give businesses the legal certainty they need. when transferring data across the Atlantic “.
The two sides are also expected to agree on a “first, do no harm” principle on new regulations and new preferential trade agreements with third countries, the chamber said.
He said the new board should hold semi-annual meetings at the senior level, with a formal mechanism allowing for structured input from companies.
The aim, he said, should be to strengthen bilateral relations, boost competitiveness and innovation, and respond meaningfully to concerns shared with third countries.
(Report by Andrea Shalal in Washington edited by Matthew Lewis)
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