US, EU Pledge Joint Action On Tech Issues, Semiconductors, China

US and EU officials on Wednesday pledged to join forces to deal with a host of technology and trade issues to secure semiconductor supplies and counter China's dominance. The inaugural meeting of the Trade and Technology Council (TTC) laid out a lengthy to-do list, but perhaps the most significant achievement was the symbolic restoration of good relations after the damage suffered under the administration of former president Donald Trump. The high-level meetings were held as industries worldwide grapple with shortages of crucial semiconductors that are harming manufacturing, including of autos, and pushing prices higher. But the summit also set its sights on forced labor, artificial intelligence, digital privacy and protecting human rights activists online, as well as monitoring foreign investment in key sectors and controlling exports of sensitive products. "We intend to collaborate to promote shared economic growth that benefits workers on both sides of the Atlantic, (and) grow the transatlantic trade and investment relationship," the officials said in their final communique.