Moreover, the United States and the European Union updated the existing U.S.-EU Marine Equipment Mutual Recognition Agreement to maintain it aligned with the latest developments on the worldwide level. The United States and the European Union are committed to avoiding a race to the bottom in semiconductor public help. Therefore, a reciprocal mechanism has been put in place for session on the principals’ stage to facilitate communication to move off and forestall subsidy races. The United States and the European Union additionally consider that semiconductor investments in both jurisdictions are mutually helpful. Increased investment in semiconductors in Europe helps resilience in U.S. provide chains, and elevated funding within the semiconductors within the United States equally supports resilience in EU provide chains. Consequently, the United States applauds the political agreement on the EU CHIPS Act.
The United States and the European Union have cooperated to develop a shared vision on a …