United States, EU Pledge To Work Together Against Unfair Trade Practices
The U.S. government and the European Union last week released a final draft of their 17-page draft statement pledging to work together to combat “unfair” trade practices from non-market economies.
Specifically, the statement said, “We stand together in continuing to protect our businesses, consumers, and workers from unfair trade practices, in particular those posed by non-market economies, that are undermining the world trading system.”
While the draft does not mention China by name, news reports linked the partnership to joint efforts to address China’s unfair trade policies. The document describes future activities of 10 working groups that were established by the United States and the EU in the summer of 2021. It also contains five separate joint statement “annexes” on investment screening, export control cooperation, artificial intelligence, semiconductor supply chains, and global trade challenges.
Read the full announcement from the White House here. The White House face sheet related to this announcement is here.