The European Union and United States have come to see a new phase of their economic partnership, according to a press release published by the European Council.
During the EU-US Summit held on 15 June 2021, the two parties came to the following conclusions:
- The EU and US will create a cooperative framework for large civil aircraft.
- The EU and US are to engage in discussions to resolve differences regarding measures for steel and aluminum by the end of 2021.
- Most importantly, the two parties will establish a joint EU-US Trade and Technology Council.
The Summit was held to create a renewed transatlantic partnership and set a joint agenda for EU-US cooperation following the Covid-19 pandemic.
The Summit was headed by President of the European Commission Ursula von der Leyen and President of the European Council Charles Michel for the European side. For the American side, President Joe Biden represented the US.
This meeting was the first EU-US summit held since 2014, and the first time the President of the United States has visited EU institutions since 2017.
The aforementioned objectives are not the only points of focus for the Summit, according to a statement made by the Council. Other areas of concentration are ending the pandemic, climate change, and democracy/security worldwide.
“Together, we intend to: (i) end the COVID-19 pandemic, prepare for future global health challenges, and drive forward a sustainable global recovery; (ii) protect our planet and foster green growth; (iii) strengthen trade, investment and technological cooperation; and (iv) build a more democratic, peaceful and secure world. We are committed to uphold the rules-based international order with the United Nations at its core, reinvigorate and reform multilateral institutions where needed, and cooperate with all those who share these objectives,” reads the Council’s statement.
The EU and the US represent the world’s largest economic partnership. Representing 780 million people on both sides of the Atlantic, the partnership between the two parties requires constant work and progress to make it advantageous for each.
No specific plans of action have been announced by either the EU or US for their cooperation.