At its July plenary, the EESC argued that the new Trade and Technology Council (TTC) can become an innovative tool for both the EU and USA to work together towards a safer and more prosperous world, based on the principles of sustainable development and democratic values. The Council is designed to be a participatory process and, as such, it needs to demonstrate its transparency and strong engagement with civil society and stakeholders.

In its own-initiative opinion on The new EU-US Trade and Technology Council in action: priorities for business, workers and consumers and necessary safeguards, the EESC highlights the priorities of the TTC.

Christa Schweng, EESC President, said "The Trade and Technology Council is a new form of cooperation. Its key objective must be to explore how trade and technology can work better for our societies. Organised civil society on both sides of the Atlantic needs to play an important role in the TTC".

Timo Vuori, EESC member and rapporteur for the opinion, stated "The EU-US TTC must, in the short and long term, deliver solutions to improve the bilateral and international trade environment. Otherwise, the TTC may lose its momentum".

The EU and the USA still have the most integrated, bilateral economic relationship in the world, equal to half of world GDP and one third of global trade flows.

The economist and writer Fredrik Erixon, who was invited to speak at the plenary, explained that this initiative was a new opportunity for both partners to command influence in the world's economy, by being united and seeking partnerships with like-minded countries that share their basic economic and political values (mt).