EU Seeks U.S. Alliance on Investor Screening to Confront China
- Officials see Pittsburgh talks as chance for joint approach
- Threat of China is spurring EU, U.S. to cooperate more closely
The European Union will aim to agree on a framework for working with the U.S. to screen potentially hostile foreign investments when officials meet in Pittsburgh later this month, according to a person familiar with the preparations for the talks.
The two sides are working toward a statement of principles that would see them share information and data relating to foreign takeovers and cooperate on assessing investments in strategic assets, the person said. The inaugural Trade and Technology Council on Sept. 29 will also aim to deliver similar statements to shape cooperation on export controls, artificial intelligence and critical supply chains of goods like semiconductors, said the person, who asked not to be identified discussing sensitive matters.