ITI: Transatlantic Summit Offers Path for Global Leadership in Digital Economy
BRUSSELS – Global tech trade association ITI welcomed the digital-focused commitments U.S. President Biden, European Commission President von der Leyen, and European Council President Charles Michel made today during the U.S.-EU Leaders’ Summit. Among their pledges, the leaders established a new EU-U.S. Trade and Technology Council, which ITI has long advocated for, including in recommendations released earlier this year.
“Transatlantic cooperation on digital policies is vital to security, economic growth, and recovery from the COVID-19 pandemic in the United States and the European Union,” said Jason Oxman, ITI President and CEO. “We are pleased the leaders heeded our call to establish an EU-U.S. Trade and Technology Council. As this Council begins its work, we encourage it to pursue compatible, non-discriminatory approaches to digital policy across issues like competition, data governance, and new technology. It’s important that the U.S. and EU build on today’s commitments to ensure the stability and reliability of transatlantic data flows and protect data privacy, which are essential to competitiveness and innovation. Further, we appreciate the leaders’ support for ongoing work in multilateral forums, including the OECD/G20 Inclusive Framework, and development of a consensus-based approach to address the tax challenges of the digitalizing economy that sees the withdrawal of unilateral tax measures. Our industry looks forward to being a partner as the U.S. and EU chart a path for sustainable, values-driven global leadership in the 21st century economy.”
Last week, ITI called (opens in a new tab) on the U.S. and EU to establish an outcome-oriented Trade & Technology Council premised on non-discrimination and international regulatory compatibility; to ensure the stability and reliability of transatlantic data flows, including robust privacy commitments that address the CJEU’s judgment in Schrems II; and to assert transatlantic leadership in multilateral forums.
ITI has supported the establishment of a transatlantic trade and technology council since 2020. The priorities document builds on ITI’s September 2020 response to the EU’s Trade Policy Review (opens in a new tab), its December 2020 public statement (opens in a new tab) calling for a forum to enhance bilateral cooperation and prevent the emergence of market access barriers, and specific recommendations for (opens in a new tab) the creation of a Trade & Technology Council published earlier this year.