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The
move will be unveiled at the second meeting of the U.S.-EU Trade
and Technology Council (TTC), taking place on Sunday and Monday
in Paris.
The TTC pledged at an inauguration conference last year in
Pittsburgh to deepen transatlantic cooperation to strengthen
chip supply chains, curb China's non-market trade practices, and
take a more unified approach to regulating big, global
technology firms.
"You'll see us announce... a transatlantic approach to
semiconductor investments aimed at ensuring security of supply,"
a senior administration official told reporters in a call Friday
previewing the meeting.
Both Washington and Brussels want to encourage chip investment,
and to "do so in a coordinated fashion and don't simply
encourage a subsidy race," the official added.
A persistent industry-wide shortage of chips has disrupted
production in the automotive and electronics industries, forcing
some firms to scale back production. But U.S. legislation that
would grant chipmakers $52 billion in funding to expand output
has been stuck in Congress.
The official said an early warning system to pinpoint and
address semiconductor supply chain disruptions would also be
announced as part of the meeting, which will be headlined by
Secretary of State Antony Blinken, Commerce Department Secretary
Gina Raimondo, and U.S. Trade Representative Katherine Tai.
EU trade chief Valdis Dombrovskis and EU antitrust chief
Margrethe Vestager will also participate, the official said.
The Council will also announce a new cooperation scheme which
the official said was intended to combat disinformation online,
such as false Russian claims related to its invasion of Ukraine.
Moscow calls its actions in Ukraine a "special military
operation."
(Reporting by Alexandra Alper; Additional Reporting by Karen
Freifeld; Editing by Rosalba O'Brien)
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