The United States and the European Union are committed to countering China's non-market practices and coordinating their export controls on semiconductors and other goods by holding a meeting at the end of this month. The fourth round of the U.S.-EU Trade and Technology Council meeting is scheduled to take place on May 30 and 31 in Luleå, Sweden, with the participation of U.S. Secretary of State Antony Blinken, European Commission Vice President Margrethe Vestager, and other senior officials. According to Reuters, the two sides will address non-market practices and economic coercion in a draft statement and plan to hold periodic negotiations to stop companies based in their countries from supporting rival strategic technologies, including those from China, in exchange for investment from those rivals. The U.S. and Europe will also take coordinated actions regarding export controls on 'sensitive items,' including goods used in military industries and semiconductors. The European Union considers China a partner in some areas and an economic and strategic competitor in others. Currently, the EU aims to realign its policy towards China for closer coordination with the United States. The upcoming meeting's draft mentions that Europe and the U.S. are examining potential actions against threats posed by non-market policies and practices in the medical equipment sector in China. The two sides also intend to cooperate on efforts to counter foreign interference, including strengthening China's misinformation narratives regarding the war. Collaboration with the G7 to counter China's economic coercion, such as the restrictions imposed by Beijing on Lithuania, will also be emphasized in the upcoming meeting. The G7 expressed concern about the 'risk of illicit financial transactions' involving Iran. Blinken and Josep Borrell discussed 'Russia's military aggression and China's economic coercion.' The plan to reduce economic reliance on China is supported by EU ministers. Europe is also working to impose new sanctions against Russia, which also involve Iranian and Chinese companies. A bipartisan plan in the U.S. Senate aims to compete with China, with Schumer stating, 'We are committed to maintaining U.S. leadership.'
The United States and the European Union Counter China's 'Non-Market Practices'
The U.S. and EU are set to meet to address China's non-market practices and coordinate export controls on sensitive technologies. This meeting, involving high-level officials, aims to strengthen economic ties and counter foreign interference, particularly from China and Russia. The outcomes could significantly influence global trade dynamics and geopolitical relations.
👥 Key Players
📰 What Happened
The U.S. and EU are planning a meeting to address China's non-market practices and coordinate export controls on sensitive technologies. This involves high-level officials and aims to counter foreign interference, particularly from China and Russia.
- The meeting is part of the U.S.-EU Trade and Technology Council.
- Efforts include addressing economic coercion and misinformation.
💡 Why It Matters
📚 Background
The U.S. and EU are increasingly concerned about China's influence on global markets and its strategic partnerships, including with Iran.
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