Consider the following statements: Statement-I: Recently, the United S

Consider the following statements:
Statement-I: Recently, the United States of America (USA) and the European Union (EU) have launched the ‘Trade and Technology Council’.
Statement-II: The USA and the EU claim that through this they are trying to bring technological progress and physical productivity under their control.
Which one of the following is correct in respect of the above statements?

[amp_mcq option1=”Both Statement-I and Statement-II are correct and Statement-II is the correct explanation for Statement-I” option2=”Both Statement-I and Statement-II are correct and Statement-II is not the correct explanation for Statement-I” option3=”Statement-I is correct but Statement-II is incorrect” option4=”Statement-I is incorrect but Statement-II is correct” correct=”option3″]

This question was previously asked in

UPSC IAS – 2023

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Statement-I is correct but Statement-II is incorrect.

The USA and the EU did launch the ‘Trade and Technology Council’ (TTC) in June 2021. However, the stated objective of the TTC is not to “bring technological progress and physical productivity under their control” but rather to cooperate on trade, economic, and technology issues, strengthen supply chains, promote innovation, and address challenges posed by non-market economies, among other goals. Statement-II’s description of the objective is a misrepresentation.

The EU-US Trade and Technology Council serves as a forum for the US and EU to coordinate approaches on key global challenges. Priority areas include cooperation on technology standards, artificial intelligence, semiconductor supply chains, export controls, investment screening, global trade challenges, and promoting secure connectivity. The intention is to align their policies and approaches in these areas to better address shared concerns and opportunities, not to exert unilateral control over global technological progress or productivity.

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